Economy

The $140 billion-asset company disclosed Thursday in a regulatory filing that the Federal Reserve Board downgraded its Community Reinvestment Act rating to "needs to improve."

When Congress lifted the conforming loan limit in certain high-cost housing markets, it provided some much-needed liquidity for homebuyers.

RealtyUSA has merged with Pittsburgh-based Howard Hanna Real Estate Services.

Mortgage applications for new home purchases dropped slightly in June, according to the Mortgage Bankers Association.

Rates for the 30-year fixed-rate mortgage held steady this week, remaining near their all-time record low, according to Freddie Mac.

Homes that were foreclosed on during the housing crisis have since gained nearly twice as much value when compared with other homes, according to Zillow.

Nonbanks continue to expand their share of lending volumes as depositories keep scaling back their business in the residential mortgage space.

While many depositories do just enough mortgage lending to low- to moderate-income borrowers to meet statutory requirements, The Federal Savings Bank has made it a backbone for growth.

Foreclosure inventory and the number of completed foreclosures both dropped in May compared with a year ago, according to CoreLogic.

The management team at Bank of the Ozarks knows it has a dependency on commercial real estate. But they assert that sound underwriting, and efforts to diversify, are what really matters when assessing risk.

Ginnie Mae has hired Nancy Corsiglia as its chief operating officer.

Just 2.8 million borrowers remain in negative equity, a 13% decrease year-over-year, according to Black Knight Financial Services.

Although the Consumer Financial Protection Bureau doesn't mandate doing so, lenders' best chance to stay compliant with future data initiatives and regulatory changes is to implement standards set by the Mortgage Industry Standards Maintenance Organization.

The House approved a spending bill Thursday that would change the structure of the Consumer Financial Protection Bureau and take away the Financial Stability Oversight Council's power to designate nonbanks as systemically important.

Late payments on securitized commercial mortgages moved noticeably higher in June, as several large loans failed to pay off at maturity.

Nonbank lenders and brokers added 500 new workers to their payrolls in May.

Refinance requests have skyrocketed due to falling mortgage rates after voters in the United Kingdom voted to leave the European Union, according to Zillow.

Manhattan renters left their apartments in search of better deals last month, pushing back against landlord price increases and taking advantage of a flood of new choices on the market.

Calling the crazy-idea department…a U.S. Bancorp-branded bus is more than halfway through a cross-country, social-media-tracked journey to promote community development and alter its profile. It's an example of the new style of reputation-oriented marketing being pursued by banks.

Freddie Mac is on track to issue mortgage-backed securities via a common securities platform by the end of this year, according to the Federal Housing Finance Agency.