Economy

Suffolk Bancorp in New York, which recently agreed to sell to People's United Financial, discouraged several suitors from bidding due to concerns about concentrations of commercial real estate loans at those banks. The disclosures highlight the challenges that banks with heavy CRE exposure could face — as buyers or sellers — if they want to do deals.

FNF Group, a division of Fidelity National Financial, has agreed to acquire real estate software company Commissions Inc.

Contracts to purchase previously owned homes rose less than forecast in June as a lack of supply and rising prices offset the benefits from historically low mortgage rates.

CoreLogic has made its mark on the Case-Shiller Home Price indices — in more ways than one.

As if high default costs haven't been challenging enough for mortgage servicers, a growing number of seriously delinquent loans are Federal Housing Administration products, which require significant upfront investment to resolve.

Prepayment speeds were lifted to a 12-month high in June thanks to historically low interest rates, according to Black Knight Financial Services.

Deutsche Bank is nearing an agreement with the U.S. Department of Justice to settle a long-running investigation into its mortgage-backed securities business.

Fannie Mae is making its housing counseling requirements more flexible so additional borrowers can qualify for its low down payment, affordable loan program called HomeReady.

Sentiment regarding the need for disruption in the mortgage tech space remains divided, though a majority of lenders agree that the industry is working to innovate for better efficiency.

The Democratic and Republican platforms adopted at this year's party conventions take a more forward-looking approach to housing issues than they did four years ago. But they have distinctly different views on the government's role in maintaining a robust mortgage industry.

A drop in mortgage banking cut into Trustmark's second-quarter profit, as did the costs to extend buyouts to employees.

Freddie Mac has reached a binding commitment with Chimera Investment Corp. in its pilot structured sale of seasoned loans.

Home prices in 20 U.S. cities rose less than projected in May from a year earlier, signaling both buyers and sellers had the potential to benefit during the busy selling season.

Purchases of new single-family homes rose in June to the highest level in more than eight years, indicating a firm and resilient housing market.

EverBank Financial in Jacksonville, Fla., confirmed that it is in talks to sell itself.

Despite fears that increased compliance costs from new Consumer Financial Protection Bureau rules could drive community lenders out of the mortgage business, a watchdog report found that smaller companies remain active.

Mountain states are leading the way as home prices edge closer to their 2006 peak, according to Black Knight Financial Services.

Democrats will adopt a party platform this week that omits most references to a need for continued post-housing crisis reforms, and instead focuses on expanding access to mortgage credit and support for industry regulation.

Regulators sought to limit improper contact between lenders and appraisers, but policies of the two mortgage giants encourage the kind of practices that contributed to the housing crisis.

First South Bank has purchased a mortgage servicing rights portfolio of 452 Freddie Mac and Fannie Mae loans.