Economy

Although he has since walked-back his original pledge to deport 11 million people, if President-elect Donald Trump attempts to fulfill his campaign promise, the damage to the housing industry would be substantial.

While the designation of retired neurosurgeon Ben Carson to run the Department of Housing and Urban Development appears like an unusual choice, lenders are hoping he can bring a fresh perspective to the industry.

Mortgage credit availability expanded for the third consecutive month in November, according to the Mortgage Bankers Association.

PlainsCapital Corp. subsidiary PrimeLending is expanding its closing cost assistance program to all 50 states and the District of Columbia.

Ben Carson accepted Donald Trump's offer to lead the U.S. Department of Housing and Urban Development, according to a statement from the president-elect's transition office Monday.

Employment in the nondepository mortgage lenders and brokers sector grew for the fifth straight month, according to the Bureau of Labor of Statistics.

NAHREP Consulting Services, a consulting firm that specializes in housing and the Latino market, has created a new program to help lenders looking to ramp up their market efforts in diverse communities.

The mortgage interest deduction will be limited in reforms designed to provide tax cuts for middle-class borrowers, but not those with higher incomes, according to Treasury Secretary-designate Steve Mnuchin.

The debate over housing finance reform appears to have new life as both Democrats and the next administration appear ready to take up the issue.

The Federal Housing Administration will increase loan limits across most areas in the United States in 2017 to reflect rising home prices.

Privatizing the government-sponsored enterprises is a priority for Treasury Secretary-designate Steven Mnuchin. Here's a look at what it will take to pull off and the potential implications for the mortgage industry of unwinding the conservatorship.

The multifamily construction boom may finally be coming to an end as leasing of new units has slowed and lenders are becoming more cautious.

Conforming mortgage rates are at their highest level this year after increasing 51 basis points since Election Day, according to Freddie Mac.

Treasury Secretary-designate Steven Mnuchin's plan to remove Fannie Mae and Freddie Mac from government control could mean increased competition for lenders' loans. But it could also prompt a rise in mortgage rates.

Even before taking office, Treasury Secretary-designate Steven Mnuchin has said he wants to return Fannie Mae and Freddie Mac to the private sector, a radically different vision of housing finance reform than that pushed by other Republicans.

Some banks are set to get a fourth-quarter earnings boost from their MSR portfolios, thanks to a sudden spike in yields on Treasury bonds. Add to that the prospect of further rate hikes and the potential dismantling of Basel III, and more banks could be encouraged to re-enter the servicing business.

President-elect Donald Trump has named Quicken Loans Executive Vice President Shawn Krause to the team that will direct the transition at the Department of Housing and Urban Development.

Treasury Secretary-designate Steven Mnuchin wasted no time Wednesday wading into one of the thorniest debates in the financial services arena, saying the Trump administration would seek to end government control of Fannie Mae and Freddie Mac.

While President-elect Donald Trump already faces numerous potential conflicts-of-interest between his businesses and the presidency, his real estate ties and campaign promises raise serious questions about his approach to the housing industry.

Foreclosure starts dropped to the lowest level recorded since January 2005, according to Black Knight Financial Services.