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Sales of previously owned homes unexpectedly fell in May for a second month as a lack of inventory and elevated asking prices weighed on demand, National Association of Realtors data showed.

Walker & Dunlop has been approved as a seller and servicer under Freddie Mac's Affordable Single-Family Rental pilot program, allowing the company to focus on middle markets.

House listings in the Twin Cities posted a rare increase last month, a slight shift in the long-running sellers' market.

The Buffalo Niagara, N.Y., housing market is getting even tighter.

Mortgage application activity increased 5.1%, rising for the second time in the past three weeks, according to the Mortgage Bankers Association.

Higher interest rates on home mortgages drove the share of loans used to purchase houses rather than refinance to new heights in May.

Paycheck information gleaned from bank accounts is emerging as an alternative to verifying a mortgage applicant's income and employment with a 4506-T tax transcript request to the IRS.

Long-time mortgage industry veteran A.W. Pickel III is the new president of Waterstone Mortgage as Eric Egenhoefer has elected to concentrate on the chief executive position.

Resale inventory is at its lowest level in 18 years and new construction supply continues being outpaced by high demand, according to CoreLogic.

The groups applauded a proposal to establish minimum GSE capital requirements, but called for more immediate steps to release the companies from conservatorship.