Mortgage

Housing is finally showing a blip on the heart monitor after years of devastation, but this map is a harsh reminder that the sector still has a long way to go before a full recovery.

As mortgage rates remain at historic lows, inventory remains tight for new purchases, and servicing rules are changing, causing a fluctuation in mortgage application volume over recent weeks.

Bank of America is in the process of sending out thousands of second lien mortgage forgiveness letters as part of this year's massive mortgage servicer settlement.

Housing continues to show signs of improvement, with the most recent S&P/Case-Shiller index reading improving, but the road to recovery remains a long one.

Mortgage application volume slid slightly this week, but it is important to note that most interest rates did as well.

Home prices and sales continue to rise, but are being held back by unreasonably tight lending standards and inventory shortages.

Trade group calls for tight regulation standards to be loosened, return to pre-boom and bust underwriting standards, in an effort to restore housing to "normal" levels.

Although improving with current changes in guidelines, HAMP hits a troubling milestone, and it is not projected the program will meet anywhere near the 3 to 4 million permanent modifications originally promised.