Big banks have drastically reduced their share of the Federal Housing Administration market, a massive shift that has big implications, according to new analysis by the American Enterprise Institute.
Suffolk Bancorp said increased oversight of commercial real estate contributed to and may have accelerated its decision to sell to People's United. Other banks could make a similar choice.
The deadline has arrived for mandatory submissions to the Federal Housing Administration's Electronic Appraisal Delivery portal, but as many as one-third of lenders that originate FHA-insured mortgages have yet to use the new system.
June 27, 2016
New York's landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums.
Home prices continued their upward climb, particularly in the Western part of the country, in April, according to Black Knight Financial Services.
Facebook's social media empire is rising, and as the tech firm pushes for more office space and a hotel, fears that the growth will drive up housing prices and clog the roads with traffic are climbing, too.
The Spokane, Wash., area housing market is the strongest it's been in years, with homes fetching higher prices amid an inventory crunch.
Berkshire Hills Bancorp in Pittsfield, Mass., has agreed to buy First Choice Bank in Lawrenceville, N.J.
It's no secret that home prices dipped considerably after the recession. But have they dipped too low?
Entry-level home values rose at double the rate of top-tier homes over the past year, according to Zillow.
The market gyrations following the United Kingdom's vote to leave the European Union have an upside for mortgage lenders, as already-falling interest rates are expected to boost home purchases and refinancing.
For the first time, Ginnie Mae has edged out Freddie Mac as the second largest securitization platform.
Ten banks have invested a total of $25 million in the fund, which buys up mortgage-backed securities tied to loans made for the development or rehabilitation of affordable single- and multi-family homes.
June 24, 2016
Steve Victor, a 33-year-old IT contractor from London, says he's pulling out of the purchase of a new four-bedroom home in the town of Bedford after Britain voted to leave the European Union.
The median price of a Marin County, Calif., home jumped to a record high $1.2 million last month, up 8% from the previous May.
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