Mortgage foreclosures declined in the first quarter from a record high as U.S. employment and personal income rose, a sign the economic recovery may be helping to limit defaults (via Bloomberg.com): http://bloom.bg/mb8781

Mortgage Forms to get More Consumer-Friendly (via REALTORMag): http://bit.ly/iMvqEp

A Ventura County, California home owned by former New York Mets and Philadelphia Phillies outfielder Lenny Dykstra is facing foreclosure and could be sold (via sacbee.com): http://bit.ly/jl2m0k

The mortgage industry faces a "tsunami" of regulations that could dramatically alter the business in the coming years, a top U.S. regulator said Thursday (via online.WSJ.com): http://on.wsj.com/m3bt7c

House of Representatives Republicans issued seven more bills that set out to reform Fannie Mae and Freddie Mac. That brings the total up to 15 bills since March (via REALTORMag): http://bit.ly/mHSh0I

Foreign Buyers Getting Firesale Prices on U.S. Housing (via blogs.WSJ.com): http://on.wsj.com/iuqTdU