Economy

Courting borrowers with past bankruptcies might not cross most loan officers' minds as the best strategy for building business, but Guaranteed Rate's Danielle Young doesn't let borrowers' past blemishes intimidate her.

Commercial mortgage originations increased 5% in the third quarter compared with the same period last year, driven by a huge increase in government-sponsored enterprise volume.

Blackstone Real Estate Partners is tapping the securitization market for a cash-out refinancing of The Cosmopolitan of Las Vegas hotel and casino.

The Federal Reserve has maintained historically low interest rates for too long, causing superficially high prices in housing and other assets. The outcome of the presidential election will likely decide whether the Fed maintains the status quo or embraces risk and raises rates.

Sun Bancorp’s third-quarter profit declined, as the Mount Laurel, N.J., company recorded almost $3 million of one-time gains a year ago.

Home prices grew by 5.3% year-over-year for August, which was the seventh out of the last eight months for an annual increase at this same level, according to Black Knight Financial Services.

The mortgage industry is welcoming the Obama administration's possibly final word on housing finance reform, hoping it will serve as guidepost for the future.

The Bancorp's stock fell nearly 15% Friday after the Wilmington, Del., company reported a large quarterly loss tied to a bad commercial real estate loan.

Mortgage brokers were among the companies that received the regulator's warning letters, but brokers are not required to report HMDA data — leading many to suspect mini-correspondents, which straddle the line between broker and lender, were the recipients.

Banc of California in Irvine has sold about $163 million of single-family residential mortgages to an unnamed buyer.

Both Fannie Mae and Freddie Mac failed to achieve their low-income and very low-income single-family home purchase goals for 2015, the Federal Housing Finance Agency annual housing report said.

Home prices in New York's Hamptons fell the most in almost three years as buyers in the beachfront towns sought out less-expensive properties and shunned the middle of the market, priced from $1 million to $5 million.

A market that some Ginnie Mae issuers tap to help finance their mortgage operations has a dwindling number of investors.

The CFPB sent letters Thursday to 44 mortgage lenders and brokers warning them of potential reporting violations related to their mortgage lending activities — infractions the bureau is increasingly pushing lenders to take seriously.

Mortgage rates slipped from last week's spike and the 30-year fixed-rate mortgage eased back to its summertime range below 3.5%, according to Freddie Mac.

Arch Capital Group's mortgage insurance business had underwriting income of $37.4 million in the third quarter, an increase of 119% compared with the $17.1 million one year prior.

The Freddie Mac Multi-Indicator Market Index for August was up 5.4% over the same month last year, driven by its purchase component, which had an 18.6% increase.

Walker & Dunlop has agreed to acquire George Elkins Mortgage Banking Co., which originates commercial real estate loans for life insurers, banks, trusts, pension funds and other private capital sources.

Higher mortgage banking revenue and commercial real estate lending offset merger costs at United Community Banks in Blairsville, Ga., leading to an improvement in third-quarter profit.

Purchases of new homes in September stayed close to an almost nine-year high, showing residential real estate was maintaining momentum heading into the quieter selling season.