Economy

The Mortgage Bankers Association said Thursday that it expects commercial and multifamily mortgage originations will increase year-over-year in 2016 by 6% to $485 billion.

Arch MI U.S. did $3.2 billion in new insurance written, approximately 60% more than the nearly $2 billion done in the same quarter in 2014.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

Contract signings to purchase previously owned homes unexpectedly fell in September by the most since the end of 2013, indicating the residential real estate market is cooling from its recent brisk pace.

Interest rates on 30-year fixed-rate mortgages fell three basis points during the week ending Oct. 29, as the market increasingly expects the Federal Reserve to hold off on raising rates, according to Freddie Mac.

A major investor in insurance giant American International Group is calling on the company to break itself up into three companies to get out from under its designation as one of only four systemically risky nonbanks.

BOK Financial reported a small drop in third-quarter profit, as a decline in the value of mortgage servicing rights offset loan and fee income growth.

New York Community Bancorp has agreed to buy Astoria Financial for about $2 billion in cash and stock, combining two of the largest New York-area banks to create an institution with about $64 billion in total assets.

Consumer demand to purchase housing increased slightly in September, compared to a year earlier, according to Redfin.

Radian Group's private mortgage insurance subsidiary pulled back from certain pricing discounts that have driven competition in recent months in that business.

Freddie Mac is preparing its fourth offering of bonds offloading exposure to actual losses on mortgages that it ensures, according to Fitch Ratings.

Mortgage application volume fell 3.5% on a seasonally adjusted basis for the week ending Oct. 23, compared to the previous week.

Department of Housing and Urban Development staff are working on a revision to the agency's condo rule and "we anticipate a rulemaking process," HUD Secretary Julian Castro said this week.

Flagstar Bancorp reported a third-quarter profit, as it originated more residential mortgages and recorded higher fee income.

Rep. Paul Ryan’s expected election as House Speaker this week may ultimately prove a boon for the banking industry — especially for critics of the Dodd-Frank Act and the current mortgage finance system.

The commercial real estate loans that underlie commercial mortgage-backed securities posted a modest increase in price from August to September, according to DebtX.

Genworth Financial agreed to sell a European mortgage insurance operation to AmTrust Financial Services Inc. as CEO Tom McInerney divests assets to bolster capital amid tighter regulation on companies that back home loans in the U.S.

Home prices in 20 U.S. cities rose at a faster pace in the year ended August, a sign the industry continues to strengthen on improving demand.

The financial condition of the Federal Housing Administration’s mortgage insurance fund has improved “significantly” over the past year, Department of Housing and Urban Development Secretary Julian Castro predicted late Monday.

First Mortgage Corp. in Ontario, Calif., has stopped originating mortgages and plans to cease operations.