Economy

The Mortgage Partnership Finance Direct program will now accept larger jumbo mortgages and a wider variety of products including hybrid adjustable rate mortgages, the Federal Home Loan Bank of Chicago and Redwood Trust said Monday.The partners said that the program would accept jumbos of up to $2. 5 million, a boost from the previous $1.5 million limit.

Ellie Mae has released the latest version of its loan origination system, which includes an integration with Freddie Mac's Loan Advisor Suite.

Confidence among homebuilders declined in July from a five-month high, showing the construction industry remains in a slow, if unspectacular, recovery as the busiest part of the selling season comes to a close.

While all prospective homebuyers may face challenges to buying a home, the perception of what those obstacles are can take different forms based one's race or ethnicity.

The San Francisco bank reported a 17% drop in mortgage fee income during the second quarter as other lenders made inroads by refinancing its customers.

Carmen Inclan of Raymond James Bank recognizes customers are happiest, and business booms, when communication is prioritized.

Upcoming risk retention requirements may be the proverbial straw that breaks the back of the commercial mortgage-backed securities market.

Fannie Mae has selected affiliates of Lone Star Funds and Neuberger Berman as the winner of six pools of nonperforming loans.

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.