Economy

New York Community Bancorp in Westbury and Astoria Financial in Lake Success, N.Y., have terminated their merger.

A legislative proposal would expand Fannie Mae and Freddie Mac's use of specially-created debt securities to share their risk with private investors, but such risk transfer deals are not a replacement for core capital.

Citigroup's global head of retail banking and mortgages, Jonathan Larsen, who has been known as an advocate of digital banking, resigned for personal reasons, the lender said.

Radius Financial Group worked for years to achieve an end-to-end digital closing process, finally doing so this fall. Here's how the Massachusetts lender got it done.

Higher mortgage rates are expected to put a damper on the housing market's potential along with home price appreciation next year, according to First American Financial Corp.

The transition team for President-elect Donald Trump is considering several candidates to fill key spots at the Department of Housing and Urban Development and Federal Housing Administration, including a homebuilder and former lender.

PHH Corp. plans to close a Buffalo, N.Y.-area office next year, which will result in the layoff of 80 employees, extending the staff reductions already taken in 2016.

While depository mortgage lenders should exercise some caution before welcoming trended data and alternative credit scoring into their process, they must become inclusive or face losing market share to newer industry players like SoFi.

The largest month-over-month decrease in foreclosure filings since November 2010 occurred last month, according to Attom Data Solutions.

Rising interest rates have turned mortgage lenders' post-election outlook on profit margins bearish, according to Fannie Mae.

New home construction fell more than forecast in November after surging a month earlier to a nine-year high, indicating fitful progress in residential real estate.

A regulatory 2017 scorecard for Fannie Mae and Freddie Mac calls on the firms to transfer a significant portion of credit risk to third-party private investors on at least 90% of unpaid principal balance of newly acquired single-family mortgages.

During the third quarter, the negative equity rate dropped to 10.9%, representing roughly 5.3 million homeowners, from 13.4% a year before, Zillow reported.

Confidence among homebuilders surged in December to an 11-year high on prospects the election of Donald Trump will translate into a smaller regulatory burden on the industry.

Mortgage rates moved higher for the seventh consecutive week, a sign that the markets are still in flux after the presidential election, Freddie Mac said.

When Barack Obama leaves office on Jan. 20, Democratic appointees across the government are expected to follow him out the door, to be replaced by officials chosen by Donald Trump. Not Mel Watt — he isn't planning to go anywhere.

The forecast for mortgage origination volume moved down for the first quarter of 2017 in the wake of the second interest rate hike by the Federal Reserve in a decade, according to the Mortgage Bankers Association.

BOK Financial will take a roughly $17 million earnings hit due to a change in the fair value of its mortgage servicing rights and a corresponding hedge.

Fannie Mae and Freddie Mac will replace the expiring Home Affordable Mortgage Program with a new loss mitigation option called the Flex Modification.

The surge in mortgage rates since the November election is expected to offset the increase to lenders' short-term funding costs following the Federal Open Markets Committee's 25-basis-point increase to the federal funds rate.