Banking

Luxury-condo builder Extell Development Co. said it obtained a construction loan for a lower Manhattan project after months of delays, and bought more time to get financing for a planned tower on Billionaires' Row in Midtown.

The slow start to Fifth Third's 3%-down mortgage illustrates some of the logistical challenges with such programs, which are on the rise across the industry.

Ben Franklin famously said the only things certain in life are death and taxes. One Wisconsin loan officer has found one more.

Many lenders are still reluctant to give mortgages to borrowers with less-than-pristine credit, yet such loans are far more likely than prime jumbo loans to be bundled into collateral bonds. Sreeni Prabhu of Angel Oak Capital credits banks' behavior and higher interest rates for that reality.

U.S. acquisitions have buoyed profits at Canada’s biggest banks, whose domestic economy is sluggish and possibly on the verge of a housing crisis. The banks are expected to pursue more M&A in the U.S. if that problem persists.

Mid America Mortgage will begin purchasing electronically closed loans through its correspondent lending channel.

The national credit union trade associations have joined with unlikely partners as co-signers on a letter that calls out the Department of Housing and Urban Development over lending issues.

Gateway Mortgage Group has partnered with National Homebuyers Fund to create a grant and down payment assistance program.

"Graceful" may not be the first word that comes to mind when thinking about last year's "Know Before You Owe" disclosure implementation, but one Texas loan officer has a different perspective.

MountainView Servicing Group is the exclusive adviser for the sale of a nonrecourse servicing portfolio of Fannie Mae and Freddie Mac loans.

The latest lending figures show just how prodigious banks' shift from construction to C&I loans has been since the crisis. Yet a hard look at C&I credits, especially their loss rates, raises questions about whether they are safer.

Daniel Mudd ended a five-year fight with the U.S. government Monday after the former head of Fannie Mae agreed to pay $100,000 to settle allegations that he misled investors about the mortgage backer’s exposure to subprime loans during the run-up to the financial crisis.

Nationwide, new home construction isn't keeping up with rising prices and demand. But in certain areas of the Southwest and Southeast, builders are bucking this trend, creating housing supply that is more flexible to market fluctuations.

Donald Trump had heard all the chatter, the idle talk about how the U.S. housing market was overheating and trouble was looming. He was unfazed. It was the spring of 2006 and he was pushing a new mortgage business, Trump Mortgage LLC.

Clara, a new online mortgage lender, has launched with $27 million in equity financing.

The first commercial mortgage-backed security to comply with "skin in the game" requirements was extremely well received. Market participants credit the way the large banks sponsoring the deal retained the risk – a strategy unavailable to nonbank lenders.

It's time to move past the fear that digital mortgages will make loan officers obsolete.

United Bankshares in Charleston, W.Va., has agreed to buy Cardinal Financial in Tysons Corner, Va.

Online lender LoanDepot has raised $150 million in term debt financing as part of its capital strategy.

United Bankshares is in talks to acquire Cardinal Financial Corp., according to people familiar with the matter, as regional banks seek to pair up to counter low interest rates and mounting regulatory costs.