Impac Mortgage Holdings recorded a year-over-year expansion of its mortgage lending in the first quarter, but other costs produced a consolidated net loss of $4.8 million during the period.

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.

A federal official told a group of third-party origination professionals angered by new proposed compensation and pricing restrictions that the Consumer Financial Protection Bureau would listen to their concerns and could still possibly change the proposals in line with them.

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

The Census Bureau reported that single-family starts rose to a 492,000 seasonally adjusted annual rate in April from a 481,000 rate in March.

Quicken Loans Mortgage Services is planning to hire more than 75 people by the end of the year.