Secondary

New Penn Financial will change its name to NewRez at the start of 2019, reflecting its acquisition earlier this year by New Residential Investment Corp.

The gap between supply and demand in the housing market is contributing to affordability constraints that are likely to limit homeownership long-term, according to Freddie Mac.

Mortgage credit available to consumers increased in November by 1.1% from the previous month as lenders offered more conventional products with expanded underwriting criteria, the Mortgage Bankers Association said.

As home value appreciation slowed, gains in home equity for the third quarter fell to the lowest level in two years, according to CoreLogic's homeowner equity report.

The government-sponsored enterprises sold fewer nonperforming loans in the first half, but the drop-off in the number of sales year-to-year is less severe than it was in 2017 as a whole.

Reps. Lacy Clay and Emanuel Cleaver, both from Missouri, have shown interest in running the panel that could be a focal point in efforts to reform Fannie Mae and Freddie Mac.

Consolidation is coming in the mortgage industry, but a protracted timetable will continue to constrict industry profits.

Toll Brothers Inc. reported its first drop in orders since 2014, led by a big falloff in California demand, a sign that high-end property markets are cooling. Shares slumped.

The performance of loans included in commercial mortgage-backed securities improved for the fifth consecutive quarter, with delinquencies down 179 basis points over the time frame, according to the Mortgage Bankers Association.

The Democrat, who will likely head the Financial Services Committee, has signaled she'll make expanded housing opportunities for lower-income consumers a top priority.