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According to a study released Monday by the Service Contract Industry Council (SCIC), homes sold with a protection plan spend, on average, 11 fewer days on the market. SCIC's findings also show that homes on average sold for about $2,300 more when covered by a plan.

Consumers' attitudes about housing diminished somewhat last month as economic worries weighed on their minds, according to new survey results from Fannie Mae. "While recent housing activity suggests that the worst of the housing slump may be behind us, this caution among consumers supports our expectation that the rebound in home sales will likely be too modest to pull sales for all of 2014 ahead of last year," Doug Duncan, chief economist.

In a letter to clients, analysts at investment banking services firm FBR Capital Markets said they are lowering their 2014 origination outlook to $989 billion from an earlier forecast of nearly $1.1 trillion. "After an April where volumes had increased for the first time in a year, we had grown modestly more optimistic," the firm said. "Now, we believe May results could prove to be a leading indicator of what is shaping up to be the weakest ... year in recent memory."

An analysis by CoreLogic found that roughly 6.3 million properties, or 12.7 percent of all residential properties with a mortgage, had negative equity as of Q1 2014. The first quarter of 2014 saw a decline from the fourth quarter of 2013, when 6.6 million homes had negative equity, or 13.4 percent. Underwater homes have a national aggregate value of negative equity of $383.7 billion at the end of the quarter.

Among the millions of households who moved between 2012 and 2013, a study finds the most important reason was to find a new or better home. According to the Census Bureau, 11.7 percent of surveyed participants moved in the year, with 48 percent moving for housing reasons compared to family or employment. All told, 17.2 million gave a housing-related reason for moving.

According to Trulia, for the first time since July 2012, none of the 100 largest markets in May—anywhere in the United States—saw home prices rise more than 20 percent year-over-year. This is the first sign of sustainability in the housing market in years and is, according to Trulia' chief economist, Jed Kolko, a welcome change from the hyper-rebounding that occurred in some markets, particularly in the West.

Citing reports from "people familiar with the negotiations," the Wall Street Journal reported late Thursday that Bank of America has been working fervently over the week to come to an agreement with the Justice Department and put an end to speculation on the potential size of the settlement. Though the final numbers remain unconfirmed, if true, the settlement would rival last year's historic $13 billion paid by JPMorgan Chase to resolve similar allegations.

Credit unions continued to grow during the first quarter of 2014, although higher interest rates slowed mortgage originations, according to the National Credit Union Administration (NCUA). The group reported that the pace of mortgage originations slowed in the first quarter, down to $42.6 billion in Q1 2014 from $102.9 billion in the first quarter of 2013.

The Federal Reserve announced on Friday it has appointed Eric S. Belsky as director of the Division of Consumer and Community Affairs, starting in August.

After surpassing expectations in April, the labor market performed slightly better than anticipated in May, according to numbers released Friday by the Department of Labor. According to the government, the economy added 217,000 new jobs last month, beating out a consensus forecast of 213,000 among economists surveyed by Econoday. The gain—a retreat from April's downwardly revised estimate of 282,000 jobs added—left the national unemployment rate unchanged at 6.3 percent.