Economy

Robert Broeksmit has a tough act to follow succeeding David Stevens, the CEO revered for navigating the Mortgage Bankers Association through one of its most tumultuous eras on record. But in doing so, Broeksmit has a distinct advantage over many of his predecessors: inheriting an organization on the upswing.

June 07--Prices for existing homes sold in Southern Nevada are approaching record levels, according to a monthly report from the Greater Las Vegas Association of Realtors.

More than half of the country's top housing markets are considered overvalued. Here's a look at the 12 cities where this trend is the most severe.

Continued optimism in the sell side of the real estate market outweighed the growing negative perception on the buy side, as consumer sentiment about purchasing a home reached a new high, according to Fannie Mae.

Despite gross home flipping profits hitting an all-time high in the first quarter, the average return on investment neared a three-year low, according to Attom Data Solutions.

Tucson's economy is expected to post healthy gains in jobs, population and income next year, but it's getting tougher to afford a home here.

June 04--DeLeon Realty used to shuttle Chinese investors on home tours around Silicon Valley in a 14-seat Mercedes van.

Declining mortgage origination volume and record-high costs drove production income for independent mortgage bankers into negative territory, according to the Mortgage Bankers Association.

The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.

Fannie Mae is lowering down payment requirements and lender fees on manufactured housing loans to improve affordable housing access.

Metro Denver experienced a nearly 25% surge in the number of homes and condos available for sale in May versus April, according to a monthly update from the Denver Metro Association of Realtors.

Since its inception, the qualified mortgage rule has been synonymous with loans purchased by Fannie Mae and Freddie Mac or guaranteed by government agencies. But a broader QM definition could change that by creating more competitive private-label options.

Angel Oak Commercial Lending has acquired a controlling interest in lender Cherrywood Mortgage in order to strengthen its focus on small-balance commercial lending.

Despite the Bay Area's natural beauty and booming job market, nearly half of its residents now want to get out, citing a creeping disillusionment with the high cost of housing.

At least 38 projects totaling 3,337 units were proposed in Massachusetts in 2017, which is far more than the five projects totaling 391 units proposed in 2010, the basement of the Great Recession.

Anticipated changes to the qualified mortgage rule will give lenders more options and force them to rethink their views on risk.

Home prices rose again in April for most of the Sacramento region's neighborhoods.

MountainView is brokering a $3.6 billion nonrecourse package of Fannie Mae mortgage servicing rights with a high refinance loan concentration.

The heart of the nation's tech sector, the astronomically expensive Santa Clara County, Calif., leads the state in residents looking to move out of town, a new report found.

Commercial mortgage bonds are getting stuffed with the lowest-quality loans since the financial crisis by one measure, according to Moody's Investors Service.