Michigan

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.