Economy

December home prices in Cuyahoga County were up over December a year ago in both the Cuyahoga County suburbs and the city of Cleveland.

A former Fannie Mae employee is facing more than six years in federal prison for participating in a scam involving discount sales of properties owned by the government-sponsored enterprise.

A rejuvenated housing market will help keep the economy chugging along despite the threat posed by a derailment in corporate spending.

A bankruptcy court judge denied a lender's motion to foreclose on properties controlled by an Austin real estate investor. But the judge then issued a warning, saying an exit plan better be ready by Feb. 2.

A lender that provided more than $388 million to finance one of Plano's biggest real estate developments has filed to foreclose on the project.

There was less credit available for the first time in four months in December, when lenders offered fewer conventional and government products, particularly Veterans Affairs-guaranteed loans, the Mortgage Bankers Association said.

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.

The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.

Bolstered by a high demand by both lenders and borrowers, 2020's commercial and multifamily loan volume is anticipated to shoot well past last year's record total but adapting to the LIBOR and CECL shifts will provide challenges, according to the Mortgage Bankers Association.

The estimated number of mortgage professionals employed by nondepository institutions inched down in November 2019 following a surge in the previous month.

If Amazon.com's botched expansion in New York City offers a cautionary tale, Google is showing there's another way.

The U.S. Supreme Court may soon decide if it will intervene in a high-stakes fight over the government-sponsored enterprise net worth sweep.

The developer of three adjacent lots said one of the reasons for the sale was her time was up with her mortgage holders.

California Gov. Gavin Newsom plans to ask the legislature to revamp the current Department of Business Oversight and rename it the Department of Financial Protection and Innovation, modeled after the federal CFPB.

Massachusetts cities and towns would have new options for funding local affordable housing under a proposal rolled out on Jan. 8: a fee of up to 2% on real estate sales above the statewide median sales price, and a higher fee on certain "speculative" property sales.

Mortgage rates fell to their lowest level since October as the financial markets reacted to rising tensions caused by the U.S. government's killing of an Iranian general, Freddie Mac said.

A Conference of State Bank Supervisors subsidiary settled a lawsuit with defendants who allegedly misused and reproduced copyrighted questions from a national exam mortgage loan officers take to obtain licenses.

Federal Housing Finance Agency Director Mark Calabria discussed the possibility of having Fannie Mae and Freddie Mac operate under a consent order to allow the government-sponsored enterprises to be able to raise capital.

The owners of the former 3M corporate campus filed under Chapter 11 of the Bankruptcy Code, which cancelled a scheduled foreclosure auction of the Austin property.

The nomination deadline for the 2020 Top Producers program is coming up soon.