Economy

Cornerstone Real Estate Advisers, an asset manager owned by Massachusetts Mutual Life Insurance, agreed to buy ACRE Capital Holdings in a bet on multifamily loans.

As the mortgage industry swings more toward purchase loans and away from refinancings, its risk from material misrepresentations increases.

Loan application defect risk continued to decline in May, according to First American Financial Corp.

The Little Rock, Ark., bank got the final regulatory approval it needed to buy C&S and C1, but not before agreeing to address some community reinvestment concerns in the Atlanta market and elsewhere.

Rates for 30-year mortgages dropped to the lowest level in more than three years as U.K. voters' decision to leave the European Union drove investors to the safety of American government bonds that guide home loans.

BancorpSouth Bank agreed Wednesday to a $10.6 million settlement with the Consumer Financial Protection Bureau and the Justice Department for allegedly discriminatory mortgage lending practices that harmed minorities.

The Federal Housing Finance Agency is soliciting industry input on how to improve Fannie Mae and Freddie Mac's credit risk transfer transactions, for the first time considering front-end transactions rather than back-end deals.

The Supreme Court agreed Tuesday to hear a case regarding a clause in Fannie Mae's corporate charter that awards jurisdiction over every case involving the government-sponsored enterprise to federal courts.

The Federal Housing Finance Agency wants mortgage servicers reaching out to delinquent borrowers to be exempt from tough restrictions on robo-calling. But the idea is being panned by consumer groups, who say it would give a free pass to mortgage servicers that have a record of consumer-protection violations.

Contracts to purchase previously owned homes fell more than projected in May, a sign demand cooled after a robust start to the busiest selling season of the year.

The Consumer Financial Protection Bureau is keeping lenders in the dark about how it will ensure borrower data is secure and private under the expanded Home Mortgage Disclosure Act reporting requirements.

Fannie Mae and Freddie Mac would be put through receivership and turned into lender-owned insurers under a housing-finance overhaul plan co-authored by the companies' former regulator.

The Connecticut Housing Finance Authority intends to offer up to $63 million in fixed-rate bonds on Tuesday and $23 million as variable rate on July 13.

Freddie Mac investors will now have access to loan-level disclosures with FICO credit scores calculated from Experian consumer credit data.

Home prices are more likely to go down in states with economies driven by the energy industry than across the country overall, according to Arch Mortgage Insurance.

Home prices in 20 cities rose at a steady pace in April from a year earlier, a sign demand for residential real estate remains solid enough to support both buyers and sellers, data from S&P/Case-Shiller showed Tuesday.

Big banks have drastically reduced their share of the Federal Housing Administration market, a massive shift that has big implications, according to new analysis by the American Enterprise Institute.

New York City broke ground on a $67 million reconstruction project at the Ocean Bay-Oceanside development in the Rockaways.

Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.

The deadline has arrived for mandatory submissions to the Federal Housing Administration's Electronic Appraisal Delivery portal, but as many as one-third of lenders that originate FHA-insured mortgages have yet to use the new system.