Economy

Lennar Corp., the second-largest U.S. homebuilder, reported a higher-than-expected profit for its fiscal first quarter as the nation's job gains bolstered demand for real estate purchases.

Home values in 20 U.S. cities kept climbing in January, a sign the limited supply of available properties may push prices out of reach for some buyers.

A jury awarded Mount Olympus Mortgage Co. more than $25 million in a lawsuit alleging "corporate espionage" by former employee Benjamin Anderson and his new employer, Guaranteed Rate.

Appellate courts are officially playing pingpong with underwriters' employment status, leaving lenders to decide whether or not they qualify as employees exempt from minimum wage and overtime pay — and open to regulatory scrutiny.

Contracts to purchase previously owned homes rebounded more than forecast in February as sales picked up in most of the U.S., a good sign as the spring-selling season approaches.

Home prices rose 5.3% in January compared to the previous year, according to Black Knight Financial Services.

Royal Financial in Chicago has agreed to sell $26 million of distressed assets associated with its pending purchase of Park Bancorp in Chicago.

Fewer lenders eased their credit standards over the previous three months, according to Fannie Mae's Mortgage Lender Sentiment Survey for the first quarter.

Five policy heavy-hitters issued a proposal this week to merge Fannie Mae and Freddie Mac into a single government corporation as a way to move beyond the conservatorships of the two government-sponsored enterprises.

Freddie Mac has sold $1.4 billion in deeply delinquent, nonperforming loans.

Two senior GOP lawmakers are warning regulators against preferential treatment for housing advocates and nonprofits in sales of nonperforming, government-guaranteed mortgages.

Interest rates on fixed-rate mortgages lowered for the first time in four weeks, Freddie Mac reported.

While the absolute number of housing markets that are less affordable than their historic norms remains small, there is concern over rising home prices forcing consumers out of the market, according to RealtyTrac.

The Federal Housing Finance Agency appears poised finally to allow principal reductions, but it's been nearly a decade since the mortgage crisis and underwater borrowers are much fewer thanks to higher home values.

Total mortgage applications declined last week, as volume was once again impacted by the drop-off in refinancings, according to the Mortgage Bankers Association.

Purchases of new homes climbed in February for the fourth time in the last five months as demand snapped back in the western U.S.

The Securities and Exchange Commission is looking at whether mortgage servicers are boosting profits by prematurely unleashing debt collectors on delinquent borrowers, a person with direct knowledge of the matter said.

The agency may finally be reaching resolution on whether Fannie Mae and Freddie Mac will allow principal reductions, two years into Director Mel Watt's tenure as agency director and nearly a decade after the mortgage bubble burst.

Fannie Mae is marketing its second offering of the year of Connecticut Avenue Securities transferring the credit risk on mortgages that it insures.

The House passed a bill late Monday to extend foreclosure relief for military service members through the end of next year.