Michigan

The company will hold off on making loans under the Advantage Loan program as it conducts an audit and implements new policies and procedures.

Detroit and Wayne County officials want to wipe away portions of property tax debt for thousands of poor homeowners as part of a new proposal.

If the bonds are approved in March, the junk-rated city plans to issue $250 million of new money, unlimited tax general obligation bonds in 2020.

Those looking to purchase a home for the first time would be wise to consider Grand Rapids, Mich.

The number of property foreclosures in Monroe County, Michigan, continues to decline, continuing a trend for the past decade, county Treasurer Kay Sisung said.

While April saw an increase in condominium sales, May saw an increase in sales of family homes in Ann Arbor, Mich.

Michigan has an estimated 239,000 manufactured homes, which comprises about 5% of the state's housing stock, according to the U.S. Census Bureau.

Dan Gilbert, the billionaire founder of mortgage giant Quicken Loans Inc. and owner of the NBA's Cleveland Cavaliers, is "awake, responsive and resting comfortably," a day after suffering a stroke.

Dan Gilbert, the founder and chairman of Quicken Loans, was hospitalized on Sunday after suffering stroke-like symptoms, according to the Detroit News.

While regulation and nonbank competition are spooking some banks, others believe low funding costs and the right relationships can help them succeed.

The Michigan company said the loan — made to a borrower that plans to shut down its reverse mortgage business — has collateral.

Quicken Loans parent company Rock Holdings is strengthening its investments in the Canadian market by acquiring a majority stake in Lendesk, a Vancouver-based mortgage fintech.

This spring is shaping up to be another sellers' market in metro Detroit housing as would-be buyers continue to scramble over the slim number of for-sale houses, especially those with entry-level prices below $325,000.

A $54-million project to build upscale condominiums at the edge of downtown Detroit has been canceled, unable to get financing, and the Plan B is to put a hotel there.

University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.

Over the last 20 years, at least 145,000 Detroit properties have been put up for sale in the annual Wayne County Tax Auction, and, of that number, an estimated 50,000 properties were occupied at the time of foreclosure.

The extended boom in residential real estate sales in metro Detroit may be peaking if newly released September sales numbers are any indication, though experts say it remains a seller's market.

Nearly half of July's millennial homebuyers were single, a sign that they are not waiting for certain milestones like marriage before deciding to become homeowners, according to Ellie Mae.

The Michigan company had been operating under the supervisory agreement since 2010.

Home sale prices continue to shoot up across metro Detroit, delighting many sellers but causing nightmares for the would-be buyers who keep getting outbid for the few properties on the market.