Delinquent Borrower

Financial Distress Is Rising Again, Report Shows

Americans' economic health appears to be edging closer to code red: The Consumer Distress Index fell sharply in the third quarter, indicating that more of us are falling behind financially.

Banks Resist Requests to Buy Back Failed Mortgage Loans

Fannie Mae and Freddie Mac are encountering growing opposition from banks as they try to make lenders including JPMorgan Chase & Co (JPM) and Bank of America Corp. (BAC) buy back failed mortgage loans. The two government-owned companies are trying to enforce contracts that require banks to take back loans that don%u2019t meet certain underwriting standards, Bloomberg News reported.

Home Mortgage Modifications Decline in July

Fewer Americans received home-loan modifications in July under the Obama administration's program to reduce foreclosures and delinquencies. A report released Friday showed that 36,695 households received long-term mortgage modifications, compared to more than 51,000 in June.