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Single-family housing starts fell 5% in July from June while multifamily starts held steady, according to a new government report.

Ellie Mae, Pleasanton, Calif., has acquired Del Mar DataTrac Inc., San Diego, for $17.2 million cash at closing, and future cash payments of $3 million, $3 million and $2 million to be paid over the next three years.

Nearly three-quarters of commercial banks surveyed by the Federal Reserve Board cited the lack of demand for single-family loans by creditworthy borrowers as the major factor for the slow pace of mortgage lending.

Home builder confidence in the market for newly built single-family homes remains poor, as the August index value for the National Association of Home Builders/Wells Fargo Housing Market Index was unchanged from July's 15.

California home sales fell by over 4% on a month-to-month seasonally adjusted basis for July, but when compared to July 2010, they were up 4.5%, the state's Realtor association reported.

More homeowners say they are under water on their mortgage and more Americans are pessimistic about house prices, according to a quarterly consumer survey by Fannie Mae.

U.S. subprime credit default swap prices recovered in July after being adversely affected in June by the so-called Maiden Lane auctions and the problem looks unlikely to recur, according to Fitch Solutions' index.

Oak Grove Capital has originated a $59.5 million Fannie Mae bond credit enhancement loan for the acquisition and renovation of 694 affordable housing units on the Southside of Chicago.

The CEO of Synergy One Federal Credit Union, whose branches are located in Prince William County, Va., said the institution's pending acquisition by Apple Federal Credit Union, Fairfax, Va., is being caused by how the economy is affecting the area's housing market.

Small community banks will have to pay for a compliance audit if they want to continue to originate FHA-insured single-family loans, according to the Department of Housing and Development.