Origination

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.

One-time Modesto City Council candidate Robert Farrace, an attorney and real estate broker, was sentenced to two years in federal prison for defrauding real estate lenders.

Despite the long, stratospheric rise of home prices in the U.S., the inflation-adjusted monthly payment on the median single-family home in 2017 was less than in 1987, when home prices were lower but interest rates were higher.

New-home construction rose more than projected in May to the fastest pace in more than a decade while permits cooled for a second month, indicating mixed progress in the supply-constrained housing market.