Most Federal Reserve officials foresee a continued slow recovery in the housing market and some are optimistic the improvement may pleasantly surprise their fellow members on the Federal Open Market Committee.

Capital Trust, a real estate investment trust that invests in commercial real estate loans and securities, said it is exploring "strategic alternatives."

Protracted negotiations generally revolve around the sales price and the formula used to determine if the borrower has the financial assets to offset some of the losses, according to FHFA acting director Edward DeMarco.

Mortgage delinquencies continued on their downward path in the first quarter with 7.4% of all loans considered past due, the lowest reading since the third quarter of 2008.

When Residential Capital Corp. filed for bankruptcy protection it left behind a trail of unsecured creditors with claims totaling well over $1 billion.

Bank of America is taking its small Florida pilot short-sale incentive program national.