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Average prices were up 15% compared to the same month in 2020.

Despite that year-over-year decline, the company beat analysts' expectations with fourth-quarter net income of $5.8 billion. Stronger commercial lending and lower expenses cushioned the blow in consumer credit.

The company's fourth-quarter trading revenue declined notably more than analysts had expected, while its business and consumer lending each dropped 1% year over year.

In a Senate confirmation hearing, the acting Federal Housing Finance Agency director echoed her predecessor’s view that restructuring of Fannie Mae and Freddie Mac should fall to Congress, and pointed to measures aimed at mitigating risk for the agencies.

The company reached an agreement with 39 states to pay $1.85 billion to resolve claims that it had used predatory lending practices.

Chief Operating and Growth Officer Pat Dodd becomes interim president and CEO following Frank Martell’s move to non-executive chairman of the company’s board.

The SEC claims Morningstar put investors at a risk when rating $30 billion in CMBS deals from 2015-2016. Morningstar defends its integrity and independence.

But the online real estate company is eliminating nearly half of the positions in its existing mortgage business as a result of the deal.

The tech industry’s attempts to simplify the process of selling a house depend on flipping properties to some of the biggest names in global finance.

The government-sponsored enterprise also unveiled two new tranche slices for investors to purchase.

While some in the industry support the change, mortgage broker trade group AIME called on the agency to reconsider it.

Federal Reserve officials said a strengthening economy and higher inflation could lead to earlier and faster interest-rate increases than previously expected, with some policy makers also favoring starting to shrink the balance sheet soon after.

The Trump-appointed head of the Federal Deposit Insurance Corp., Jelena McWilliams, said she plans to leave the agency in early February. The announcement comes weeks after Democratic appointees making up a majority of the board had threatened her leadership by acting on policy related to bank mergers without her consent.

Blackstone Inc. has agreed to acquire Bluerock Residential Growth REIT Inc. in a deal valued at $3.6 billion, extending its push into U.S. rental housing.

However, the unusual profitability residential finance firms have previously enjoyed, and a strong housing market, could help to sustain their bottom lines.

HUD official Alanna McCargo takes over the top job at the government corporation, which has had a series of acting leaders since 2017.

Consumer Financial Protection Bureau Director Rohit Chopra has helped assert the authority of the three Democrats — including himself — who serve on the governing body of the Federal Deposit Insurance Corp. GOP lawmakers responded with a bill to strip the consumer agency's head of voting powers on the FDIC board.

Younger home buyers accounted for more than half of Veterans Affairs purchase mortgages, with Virginia Beach and Washington seeing the greatest number of applications.

There is no room to unfairly criticize the determination of the Consumer Financial Protection Bureau to properly fulfill its regulatory roll in mortgage servicing, writes the founder of the Maine Attorney Saving Homes program.

Founded in the wake of the global financial crisis, KBRA has issued more than 51,000 ratings representing almost $3 trillion in rated issuance since 2010.