Economy

Macy's decision to shutter another 100 of its department stores could impair some $3.64 billion of securitized commercial mortgages, according to Morningstar Credit Ratings.

The impressive loan growth in the second quarter is surprising in an economy that grew by 1.2% in the second quarter and by only 0.8% in the first quarter.

Online lender LoanDepot has raised $150 million in term debt financing as part of its capital strategy.

Existing home sales and median home prices dipped in July, reflecting the impact of declining affordability, according to the California Association of Realtors.

Appraisal management company Accurate Group is looking to expand its nationwide appraiser network.

Fannie Mae is prepping servicers to handle the issues homeowners may face in the wake of severe flooding across Louisiana.

Home construction unexpectedly accelerated in July to the fastest pace in five months, indicating the housing industry remains an area of support for the economy.

American International Group. agreed to sell mortgage insurer United Guaranty Corp. to Arch Capital Group as Chief Executive Officer Peter Hancock works to simplify his company and free up capital to return to shareholders.

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.