Economy

Mortgage application volume rose 0.1% for the week ending July 17, a slight uptick from a week earlier, according to the Mortgage Bankers Association's weekly survey.

Genworth Financial Inc. is in exclusive talks to sell a European unit to France's Axa SA as Chief Executive Officer Tom McInerney works to fill a capital gap at its private mortgage insurance subsidiary.

Consumer credit defaults increased during June, according to data from the S&P Dow Jones Indices and consumer credit reporting agency Experian.

The new MBS program gives FHLB members direct access to the secondary market.

From CFPB and TRID to QM and ATR, the barrage of new abbreviations emanating from the Dodd-Frank Act has only been matched by the enormity of the changes it made to the mortgage industry. Here are 10 ways that the landmark financial reform legislation has reshaped the mortgage industry since becoming law five years ago.

Clients of commercial real estate crowdfunding platform Selequity can now get short-term financing from CRE lender Virtual Realty Enterprises.

Wellington Denahan is stepping down as chief executive officer of Annaly Capital Management Inc., the largest real estate investment trust that buys mortgage debt.

Synovus Financial in Columbus, Ga., reported higher second-quarter income tied to a lower loan-loss provision.

Treasury Secretary Jack Lew said Monday that the Obama Administration will continue to defend the Dodd-Frank Act amid Republican efforts to water down the law, even as one of its namesakes suggested changes to it may be necessary.

The Federal Home Loan Bank of Dallas' Affordable Housing Program celebrated its 25th anniversary on July 16.

Angel Oak Home Loans in Atlanta has opened multiple branches across the state of Florida as part of its nationwide expansion.

Federal judges have dismissed two lawsuits that accused Wells Fargo of reverse-redlining in Los Angeles and Cook County, Ill., Reuters reported.

United Wholesale Mortgage has begun offering interest-only mortgages through its third party origination channels.

Community Housing Capital in Decatur, Ga., has received a $100 million line of credit dedicated for the development and preservation of affordable housing from a syndicate organized by Morgan Stanley.

Richard Green, director of the University of Southern California's Lusk Center for Real Estate, will serve as a senior FHA advisor on housing finance policy for one year.

Homes in the San Francisco Bay area sold last month at the fastest pace in almost nine years and prices approached a record as growing consumer confidence, historically low mortgage rates and job growth propelled sales.

As new foreign bank regulations push financial institutions to shed risk-weighted assets, companies like Barclays and RBS are reducing their roles in the mortgage-backed securities market. But reduced competition in this sector is bad for liquidity.

Fannie Mae has priced what it expects will be its final fixed severity deal.

Freddie Mac is expanding its risk-sharing efforts meant to protect taxpayers and potentially prepare the $9.4 trillion U.S. home-loan market for its future.

MGIC has discounted single-premium lender-paid mortgage insurance by 11% during the second quarter in order to get market share in this highly competitive product.