| Aug 29, 2012 4:46PM First lien mortgage debt decreased substantially during the second quarter of 2012, bringing overall household indebtedness down by $53 billion compared to the first quarter of 2012. According to its Quarterly Report on Household Debt and Credit , the Federal Reserve Bank of New York said that first mortgage debt declined from $8.2 trillion in the first quarter to $8.1 trillion in the second. At the same time, mortgage originations , measured by the appearance of new mortgages on consumer credit... Aug 29, 2012 4:06PM Joseph A. Smith, Monitor of the National Mortgage Servicing Settlement issued a progress report on Wednesday. Smith, former North Carolina Banking Commissioner, said the interim report was published to inform the public about the nature of the settlement, the steps that have been taken to implement it, and the results to date. Smith is not required to issue his first report to the Federal Court until the second quarter of 2013. The report includes a summary of the material terms of the various judgment...
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