Economy

Altisource Portfolio Solutions has upgraded its sell-it-yourself real estate platform, Owners.com, and will offer a rebate to buyers who purchase a home through the site.

In a huge win for housing advocates and a setback for the banking industry, the Supreme Court on Thursday upheld the use of "disparate impact" in a Texas case alleging housing-related discrimination.

Homeownership rates have dropped to historic lows, while at the same time the cost to rent homes has risen sharply, according to a new report from Harvard University's Joint Center for Housing Studies.

Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.

Home prices rose 1.2% in April, from the previous month, in the largest seasonal gain since 2005, according to FNC.

Bankers and commercial real estate developers are protesting new restrictions on construction lending, arguing they are poised to hurt credit availability and drive loans into risky, unregulated sectors.

Freddie Mac's latest monthly Multi-Indicator Market Index shows a weak but improving housing sector.

Lennar Corp., the second-largest U.S. homebuilder, reported fiscal second-quarter earnings that beat estimates as the revived economy spurs new housing demand.

Mortgage applications rose 1.6% on a seasonally adjusted basis from a week earlier, according to the Mortgage Bankers Association's weekly survey.

Ocwen Financial Corp. has priced $225 million of asset-backed notes being offered as part of a debt refinancing.

Some argue that nonbank mortgage lenders' rising market share poses a risk to the financial system. But this belief arises from an inaccurate understanding of what is in fact a well-regulated sector.

Wells Fargo has hired two executives to expand its lending for manufactured housing, following the San Francisco company's purchase of a multibillion-dollar loan portfolio from GE Capital.

The price of homes rose 0.3% in April from the previous month, according to the Federal Housing Finance Agency.

Fannie Mae will no longer charge mortgage lenders to submit loans to its Desktop Underwriter automated underwriting system, a decision that follows a similar move by Freddie Mac earlier this month.

Purchases of new homes rose in May to the highest level in seven years, signaling the industry is gaining momentum heading toward the second half of the year.

Nonbank lender HomeBridge Financial Services has lifted the curtain on a new mortgage platform aimed at community banks and credit unions.

Wells Fargo Bank is marketing $914 million of commercial mortgage bonds, according to a presale report released by Kroll Bond Rating Agency.

Royal Financial in Chicago has agreed to sell $29.1 million in distressed assets, a deal mandated by a bankruptcy judge as part of the company's acquisition of PNA Bank.

Fewer consumers today believe it's difficult to get a mortgage than a year ago. However, the majority of survey respondents still think the origination process is too tough and that there are too few homes on the market.

Previously owned homes sold in May at the fastest pace since November 2009, driven by first-time buyers and indicating budding momentum in the residential real estate market.