Origination

A mortgage industry laden with government enticements has no choice but to honor a duty to serve its benefactor's affordable housing goals, claim the contributing authors of a new book.

Mortgage Bankers Association chairman David Stevens picked the perfect locale for his latest message about the diversity challenges lenders are going to be facing over the next 10 years.

The benefits of homeownership are often cited in policy debates, though it has some downsides. Following are the advantages and costs of homeownership for neighborhoods and communities, as summarized in a recent research paper by Jason Fichtner and Jacob Feldman at George Mason University.

Bank of America Corp. will pay $16.65 billion to end federal and state probes into mortgage bond sales, the harshest penalty yet related to loans that fueled the 2008 financial crisis, the Justice Department said.

Purchases of previously owned homes unexpectedly rose in July to a 10-month high as low borrowing costs and an increase in inventory drew buyers.

Mortgage rates in the U.S. dropped for a second week, sending 30-year borrowing costs to the lowest point for 2014.

Millennials may be the first group of homebuyer-aged Americans that don't buy into the American dream — at least not the homeownership part of it.

The CFPB's definition does not tell the full story, so real estate agents need to move with caution, no matter what kind of letter a consumer brings from a mortgage loan officer.

Bank of America has agreed to pay $17 billion to settle federal investigators' allegations that it sold shoddy mortgage-backed securities ahead of the financial crisis.

Countrywide Financial Corp. co-founder Angelo Mozilo hasn't escaped the wrath of prosecutors for his company's role in inflating the housing bubble that preceded the financial crisis.