Economy

Mortgage rates rose for the first time in six weeks, going back the above the 3% mark, as spreads to the 10-year Treasury yield widened again, according to Freddie Mac.

Many commercial property owners are locked out of existing coronavirus relief by financing terms that bar them from taking new loans. Under a House bill, they would receive government-backed equity investments.

Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.

The company lost $8.9 million in the second quarter, but its origination and servicing businesses were profitable.

Fannie Mae and Freddie Mac have imposed heavy price adjustments for loans that were granted relief under the pandemic relief law enacted in March.

The new normal created by the events so far in 2020 could make this the best year ever for lenders.

The Financial Stability Oversight Council’s plan to study the market explains very little about which activities or firms, like Fannie Mae and Freddie Mac, will be designated as systemically important. Here's some clearer guidance.

The Federal Housing Finance Agency will extend the same GSE benchmarks of the past three years into 2021.

Issuers approved for the program will receive written authority to use "digital collateral" for a limited number of securitizations.

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

It starts with understanding investor, insurer and regulatory requirements and how they're interpreted and applied.

The median price for detached homes in Marin County, Calif., rose 5.3% in June over the prior year, marking the first solid gain since the coronavirus arrested the market.

The surge of COVID-19 cases in much of the nation put a hold on reopening the economy, adding risk to the housing market, First American said.

The Detroit lender disclosed that the consumer bureau had sent a civil investigative demand to Rocket Homes Real Estate for potential violations of the Real Estate Settlement Procedures Act.

Mortgage rates slid further this week, as the conforming 30-year fixed loan fell below the 3% mark for the first time in the 50 years Freddie Mac has tracked this information.

The Rhode Island Association of Realtors said that the number of single-family houses sold in June was down 14.6% from the same month a year ago.

The consumer agency alleges Townstone Financial's CEO and president made statements on a radio show discouraging applicants living in Black neighborhoods from seeking home loans.

The company wants to provide financing to those who purchase its homes in Colorado, Georgia and Texas.

Any intention that Ginnie Mae may have had to slow prepayment rates by changing the rules on RPLs seems to be thwarted by the grim economic reality facing the big banks.

A top Federal Reserve official is issuing a warning about fast-growing and largely unregulated shadow lenders: They were a big factor in why central banks had to save markets earlier this year, and much more needs to be done to assess the risks posed by the sector.