Economy

Freddie Mac has obtained another three new insurance policies under its Agency Credit Insurance Structure program, representing the largest aggregate transaction to date.

The scheme is used by borrowers who don't have enough income to qualify for a regular mortgage, so they apply for a higher rate non-owner-occupied loan.

The Federal Housing Finance Agency’s first report on the sales of nonperforming loans owned by Fannie Mae and Freddie Mac may seem discouraging at first.

Berkshire Hills Bancorp is buying a bank with a national mortgage platform. The company hopes the business will provide a much-needed lift in fee income.

While the housing market remains on solid ground, issues with affordability and inventory are causing the momentum of existing home sales to slow, online marketplace Ten-X reported.

Orlando, Fla., got a good dose of good news as Freddie Mac reported that the city's housing market posted the biggest year-over-year gains in April.

A previous career in the restaurant industry sparked an idea that helped Chong Yi nearly double his production dollar volume.

Nonperforming loan investors will have to consider principal reductions and offer more sustainable loan modifications.

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.