Economy

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.

The homebuilder says his mortgage shop was ready for the new mortgage disclosures. No problems so far.

Home prices increased 0.3% from July and 5.5% year-over-year in August, putting them just below their precrisis peak, according to Black Knight Financial Services.

Quicken Loans CEO Bill Emerson's term as chairman of the MBA underscores how the consumer-direct mortgage channel has grown from a quirky novelty to the force leading a technology revolution.

Purchases of new homes slumped in September to a 10-month low, disrupting a trend of steady improvement this year in the industry.

Legislation would require GAO to study the impact the FHFA membership rule would have on the FHLB System and its members.

Housing markets across the U.S. continue to gradually improve, according to Freddie Mac.

Consumer demand for apartments continued to rise in the third quarter, according to the National Multifamily Housing Council.

Astoria Financial, a New York City-area thrift under pressure from activist investor Basswood Capital Management to boost the share price, is exploring a sale, according to people familiar with the matter. The stock climbed as much as 6.2%.

Lawmakers and industry groups are urging FHA to update condo rules to provide more homeownership opportunities for first-time buyers.

Mortgage rates fell this week as investors acted on Federal Reserve Gov. Daniel Tarullo's doubts on an interest rate increase occurring before the end of the year.

The CFPB’s expanded data requirements for the Home Mortgage Disclosure Act will create a powerful tool for analyzing fair lending compliance. But some say the initiative is a massive overreach that could compromise borrower privacy.

CoreLogic reported a sharp decline in third-quarter profit, on higher expenses and unfavorable currency translations.