Economy

Mixed views of the economy drove consumers' overall trust in the housing market down in October, according to Fannie Mae's Home Purchase Sentiment Index.

RCS Capital Corp. plunged after Apollo Global Management scaled back plans to invest in the company and another entity associated with Nicholas Schorsch.

While regulatory pressures remain top of mind for the mortgage industry, lenders surveyed by National Mortgage News are shifting their attention from defensive-minded compliance initiatives to ones that improve companies' ability to compete.

Clayton Homes reported a higher third-quarter profit on increased sales of its manufactured homes.

Shares of real estate investment trusts fell the most since August after an upbeat reading on U.S. jobs increased the odds the Federal Reserve will raise interest rates this year.

Profits on home sales reached their highest point in eight years in the third quarter despite a slowing-down of appreciation rates, according to RealtyTrac's U.S. Home Sales Report.

LendingTree stands to earn as much as $91.4 million based on its pricing for a common stock offering that is expected to close Nov. 12.

Nonbank mortgage lenders added 1,600 employees to their payrolls in September, which combined with revised August figures brought industry employment to its highest point in more than two years.

Fannie Mae was affected by the same derivatives accounting mismatch that led to Freddie Mac's first quarterly loss in four years. But its bulk and balance sheet provided enough cushion for the larger of the two government-sponsored enterprises to post a profit for the third quarter.

Mortgage credit availability improved in October as a result of new affordable housing programs, according to the Mortgage Bankers Association.

Interest rates on 30-year fixed-rate mortgages increased during the week ending Nov. 5, as the market gained greater confidence that the Federal Reserve will raise interest rates, according to Freddie Mac.

WASHINGTON — The House passed a massive $340 billion transportation bill on Thursday, striking two key provisions hated by the banking industry while adding several other measures that could affect financial institutions.

The portion of homebuyers making their first residential purchase fell for a third straight year, and is now at the lowest level since 1987.

Fannie Mae will pay the U.S. Treasury Department $2.2 billion after reporting a net income of $2 billion for the third quarter.

Many millennials lack knowledge about credit, despite their own concerns with their financial futures, according to a study by Experian.

After years of plowing resources into compliance projects, mortgage lenders surveyed by National Mortgage News are foregrounding core business initiatives in their plans for the coming year. High on to-do lists are projects aimed at improving the customer experience and seizing new business opportunities.

The commercial mortgage-backed securities delinquency rate continued its year-long improvement in October, with another big improvement predicted for November, according to Trepp.

Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.

Nationstar will provide servicing-released option for fledging Chicago's MPF Government MPF program.

New rules proposed by international banking regulators would severely reduce, and possibly eliminate, banks' profitability in trading bonds that finance everything from home loans and apartment mortgages to auto loans and student debt, according to JPMorgan Chase & Co.