The decline can be attributed to a reduction of $757 in equity investment income and $211 million related to additional market-related adjustments on the bank's debt securities portfolio, due to long-term lower interest rates' impact.

Most Fed districts reported improvement in residential real estate, namely Cleveland, Richmond, Chicago, Minneapolis, Kansas City, Dallas, and San Francisco. The remaining districts reported steady residential real estate activity, except for New York, which said conditions were softening. Construction activity slowed in Philadelphia, Cleveland, Atlanta, and Dallas due to harsh winter weather conditions.

Wells Fargo's noninterest income for Q1, $10.3 billion, was an increase of $29 million from the previous quarter. The bank received higher income from trading activities, debt security gains, mortgage origination gains, and insurance, which were offset by lower other income, such as from mortgage servicing (which were $108 million for Q1, compared to $235 million for the previous quarter).

Fannie Mae has announced the launch of the HomePath Ready Buyer program, through which qualifying homebuyers can receive up to 3 percent of the home's purchase price in closing cost assistance toward the purchase of a HomePath property.

San Francisco-based national wholesale and correspondent lender Parkside Lending has added industry veterans to the positions of general counsel, chief compliance officer, and closing manager to its team in order to manage the rapidly growing business.

While the CAC will advise the Fed on a broad range of issues and offer diverse perspectives on economic circumstances of different consumers and communities, the council's particular focus will be on concerns of low- and moderate-income areas.

When asked what she was most proud of having accomplished with MHA, Lambert said, "There are so many things. If I had to pick one thing, I would say we're proud of the way we were able to put resources together to help homeowners and I’m proud I was able to participate in the direct assistance of homeowners in so many ways, including our PSA campaigns, online presence and outreach events.”

Nomura and the Royal Bank of Scotland, also a defendant in the case, are the first two financial institutions out of 18 sued by the FHFA in 2011 that failed to reach a settlement and took the case to trial. FHFA sued the 18 institutions to recoup U.S. taxpayer costs following the government's $188 billion bailout of Fannie Mae and Freddie Mac in 2008, after which the government seized control of both Enterprises.

New Jersey-based RedVision, an independent, nationwide provider of real property title data, search examination, and curative-ready solutions, has appointed Amy Holder to the new executive role of New Jersey sales director and James Sandifer as VP of regional operations for the southeast and mid-Atlantic regions.

Despite a brutal winter and a slowdown in economic activity in the first quarter, Freddie Mac is sticking to its previous prediction that 2015 will be the best year for home sales since 2007, according to Freddie Mac's U.S. Economic and Housing Report for April 2015 released Thursday.