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A summer resurgence of home buying stretched into August, defying the pandemic to set record home prices and drive sales to a near two-year high, new housing figures show.

Wholesale's technological capabilities and its scalability have been increasingly attractive to lenders given the recent surge in volume.

The company's software can now be used to handle personal loans, credit cards and specialty-vehicle loans.

The Charlotte, N.C., company recently closed on a sale of its Cohen Financial platform to SitusAMC.

Weeks after Rocket Cos. launched its own IPO, the wholesaler is merging with a special-purpose acquisition company in a deal that values it at over $16 billion.

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic.

Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, leading lenders to press landlords to pay up.

Chattanooga, Tenn., home sales continued last month to rebound from the coronavirus-spurred slump in the spring, boosting the median price of homes sold during August to an all-time high.

Mortgage applications increased 6.8% from one week earlier as this summer's surprise purchase demand has carried over to the fall, according to the Mortgage Bankers Association.

Under fire for saying that the potential pool of talent is "limited," CEO Charlie Scharf issued a memo to employees Wednesday acknowledging that his words reflected his own "unconscious bias" and vowing to improve diversity in the bank's leadership.

The company also found a buyer for its portfolio of equipment finance loans as it tries to clean up credit and refocus on middle-market lending.

Wells Fargo's top executive created a firestorm on social media over comments that the bank has had trouble meeting its diversity goals because there isn't enough minority talent.

Sales of new homes climbed in Houston and other large Texas markets in August, with September shaping up to be another strong month for sales for the homebuilding industry.

Some homeowners who sought relief as a result of COVID-19 may owe a lump sum when their forbearance period ends, according to a report from the Committee for Better Banks. The group is calling on banks to instead extend the repayment periods for affected customers.

FHA Commissioner Dana Wade offered a preview of ambitions she has for the Federal Housing Administration at a virtual event held by Women in Housing and Finance on Tuesday.

As part of the revamp, Rocket’s referral network, technology and marketing tools will now be available to QLMS users, EVP Austin Neimeic told NMN.

But the group is more conservative than Fannie Mae when it comes to interest rate movements over the next six quarters.

Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.

Outside the densely populated coastal hubs, annual home sales grew by leaps and bounds, as buying patterns shifted toward more space with less emphasis on proximity to urban centers, according to Redfin.