Origination

Two reports this week are singing harmony about the metro Atlanta housing market: there are fewer homes sold, while the ones that are selling are going for higher prices.

MGIC Investment Corp. reported second-quarter net income of $118.6 million, an improvement from the $109.2 million for the same period last year.

The marketplace lender's application for an industrial bank charter is under fire from small banks and progressives, who say it could violate the barrier between banking and commerce and shut out middle-class and lower-income consumers.

Colony American Finance has been rebranded as Corvest American Lender in the wake of equity and asset acquisitions by funds affiliated with Fortress Investment Group.

The share of closed purchase loans remained flat in June, affected by the lack of homes for sale, according to Ellie Mae's Origination Insight report.

Mortgage loan application volume increased 6.3% last week as interest rates remained flat after a sharp gain during the previous 14-day period, according to the Mortgage Bankers Association.

California Gov. Jerry Brown and legislative leaders announced that the state's housing crisis will be at the top of their agenda when lawmakers return in August from a month-long break.

The Buffalo, N.Y., bank also said commercial and consumer lending ticked up, while residential real estate fell during the second quarter.

Home sales — and prices — reached a new high in the Twin Cities area last month, but the dearth of listings continued and may soon put a brake on deals.

Residential construction ended the second quarter on a stronger note as groundbreaking on new homes rebounded in June to the fastest annualized pace in four months.