Origination

In an unwelcome turn for a city suffering from a homelessness crisis, federal housing officials said they have denied Los Angeles $80 million in funds, citing long-standing failures by local leaders to ensure that properties built with government money are accessible to those who use wheelchairs or have other disabilities.

With retaining and maintaining customers being a perpetual challenge for independent mortgage brokers, Home Point Financial launched a technology platform to bolster recapture rates.

The incentives are stronger than ever to work toward standardizing the documentation, language and process for loans in commercial mortgage-backed securities to be combined with PACE financing.

While seasonal factors were attributed to the monthly rise in mortgage delinquencies for June, the jump was still much higher than last year's fairly steady increase, according to Black Knight.

New York Attorney General Letitia James is monitoring how the bankrupt Ditech Holding Corp. handles borrower-sensitive issues like foreclosure proceedings, and is backing the involvement of a consumer creditors' committee.

The bank is siding with a growing list of groups, including the U.S. trustee, attorneys general from several states and consumers, who object to Ditech's plan to sell its reverse mortgage business.

MGIC reported higher-than-expected earnings, seen as a positive for the other mortgage insurers, plus Flagstar and KeyCorp had strong quarters for their mortgage businesses.

Southwest Florida apparently escaped the free fall in foreign investment in residential real estate that hit much of the country. And the Sunshine State remains the most appealing to those property buyers, besting California and Texas.

Sales of previously owned homes declined in June, missing estimates in the latest sign of weakness for the housing market.

High demand, low inventory and multiple offers on homes are common in Spokane, Wash., which has become one of the hottest real estate markets in the nation.