Economy

Fannie Mae has selected Corona Asset Management XVIII as the winner of its fourth and latest "community impact" pool of nonperforming loans.

By investing time early on with clients who may not be immediately ready for a mortgage, loan officer Becky Sandiland establishes relationships that generate future business.

Ocwen Financial Corp. posted yet another net loss during the second quarter, this time reflecting the impact of legal and settlement costs among other factors.

Arch Capital had underwriting income of $37.8 million in its mortgage insurance segment, which includes its U.S. subsidiary and an international reinsurance business.

Mortgage servicers should concentrate on providing a better experience for borrowers because customer retention benefits outweigh the costs, a J.D. Power survey found.

Mortgage rates increased slightly this week, but remain near historic lows, according to Freddie Mac.

President Obama called for Fannie Mae and Freddie Mac to be eliminated, but Democratic policymakers attending the convention here appear resigned to the fact that Congress is unable to act on housing finance reform.

Two Harbors Investment Corp., one of the few regular sponsors of private-label mortgage securitization post-financial crisis, is pulling out of the market.

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.