Economy

Borrowers who go through a sour mortgage experience often leave poor business reviews online and move on with their lives. Houtan Hormozian decided to become a loan officer and give his clients the service and experience that he didn't get to have.

Though they have a reputation for being precarious, Federal Housing Administration loans are leading the decline in mortgage application defect risk, according to First American Financial Corp.

An FHA lender was cited for violating Department of Housing and Urban Development rules by allowing repayment provisions in second mortgages.

Home sales in California are expected in increase in 2017 as price appreciation slows down, according to a forecast from the California Association of Realtors.

Mortgages jumped more than 20% to 7.4 million originations in 2015, reversing a more than 30% decrease a year earlier, according to housing finance data released Thursday. The data also found that nonbanks accounted for fully half of new mortgage originations — the largest proportion in over 20 years.

Department of Housing and Urban Development veteran Margaret Salazar will become the new director of Oregon Housing and Community Services Nov. 1.

Homes were less affordable than their historic averages in 24% of U.S. markets as prices rose and wage growth slowed, according to Attom Data Solutions.

Mortgage rates fell as investors purchased more 10-year Treasury bonds after the Federal Open Market Committee decided to leave short-term rates unchanged.

Contracts to purchase previously owned homes fell to a seven-month low in August, held back by a tight supply in the housing market.

The red-hot growth in home prices across the West is starting to slow in some cities as sticker shock and low inventory put off weary buyers.

The Rural Housing Service has quietly launched a new construction loan program designed to increase the availability of new homes in rural areas.

Eight years after high-risk, deceptive lending practices precipitated a near-meltdown of the global economy, we learned that at least 5,300 Wells Fargo employees created 2 million sham accounts that its customers apparently did not want, need or understand.

Low interest rates are keeping the housing market strong even as affordability keeps declining, according to Freddie Mac.

Mortgage application volume was down on lower refinance activity, even though rates declined from the previous week.

In some housing markets, the right combination of wages, home prices and rental market conditions makes owning a home a virtual no-brainer. Here's a look at the top markets with the largest affordability spread between owning and renting.

The jury is still out on whether new sports stadiums are economic engines for their communities. But when it comes to housing alone, new stadiums are a boon for local home sales, but don't always contribute to home price appreciation.

Fannie Mae has awarded its latest "community impact" pool of nonperforming loans to an affiliate of the nonprofit New Jersey Community Capital.

Home prices in 20 U.S. cities continued to gain at a solid pace in July, according to S&P CoreLogic Case-Shiller data.

Republican presidential nominee Donald Trump used the first debate to attack the Federal Reserve Board, reiterating accusations that it has purposely kept interest rates low to help President Obama.

Now that Fannie Mae requires trended data credit reports for its automated underwriting system, will other secondary market players follow suit? If so, how soon?