Economy

American International Group Inc. is in talks to sell its mortgage insurer, United Guaranty Corp., to Arch Capital Group Ltd. as Chief Executive Officer Peter Hancock works to simplify his company and free up capital to return to shareholders, according to a person familiar with the matter.

Sterling Bancorp of Montebello, N.Y., has sold its mortgage business to Freedom Mortgage of Mount Laurel, N.J., for an undisclosed price.

The Federal Deposit Insurance Corp. has downgraded the Community Reinvestment Act rating for BancorpSouth in Tupelo, Miss.

Mortgage portfolio retention strategies typically focus on proactively approaching borrowers who can benefit from refinancing. But companies are increasingly using enhanced analytics to further segment their customer base and identify borrowers on the cusp of buying a new home.

Confidence among homebuilders climbed in August as steady job growth and low interest rates boosted prospects for the residential real estate market in the second half of the year, according to data from the National Association of Home Builders/Wells Fargo.

United Community and Wells Fargo are among the banks building platforms to lend to senior-care facilities. Demographics suggest the business should grow significantly in coming years.

Mayor Bill de Blasio on Thursday nominated Eric Enderlin to be president of the New York City Housing Development Corp., the city's housing finance arm and a major player in de Blasio's affordable housing initiative.

Starkey Mortgage's Eric Glick prides himself on the dedication he brings to educating borrowers about a broad spectrum of topics. His approach starts by making sure he stays current on the latest industry trends. Here's how.

New Residential Investment Corp. has priced a public common stock offering whose proceeds will be used to acquire mortgage servicing rights from Walter Investment Management Corp.

Fifth Third Bancorp, Ohio's largest lender, fired Chief Legal Officer Heather Russell last month after she disclosed a romantic relationship with the chief executive officer of Fannie Mae, Timothy Mayopoulos, The Wall Street Journal reported.

Application volume rose 2.4% from July 2015, which was the slowest year-over-year pace thus far in 2016.

Mortgage lenders can expand their businesses by catering to borrowers who aren't proficient in English, but doing so requires strategic recruiting and hiring and compliance with federal and state regulations.

The emergence of lenders that have no real connection to a geographic area prompts questions over how the Community Reinvestment Act’s “good neighbor” policy can continue.

Mortgage rates were little changed from the previous week as they rose two basis points on better-than-expected economic news, according to Freddie Mac.

Fannie Mae has released the details of its next nonperforming loan sale, which will include its fifth "community impact" pool.

Morgan Stanley has completed $10.5 million in consumer relief, according to the independent monitor of the company's mortgage-backed securities settlement with New York State.

Fewer housing markets are seeing double-digit gains in prices as affordability becomes more of a challenge in some areas.

The foreclosure inventory at the end of June was at its lowest level since August 2007, according to data released Tuesday by CoreLogic.

The biggest change in banking in the last 60 years is the shift in balance sheets from business lending to real estate finance and therefore more risk tied to volatile real estate prices.

Farmer Mac posted lower net income than during the second quarter of 2015 on a loss on financial derivatives and hedging activities.