Economy

A community revitalization program in the City of Brotherly Love is connecting potential homebuyers to financial institutions, and some credit unions are among those reaping the benefits.

Despite policy changes that apply to new reverse mortgages, the rights for existing spouses of deceased borrowers remain unclear and subject to change until HUD and litigants agree on a final policy in line with court directives.

With the right products and markets, loan officers can be better compensated even as they close fewer loans.

While the government-sponsored enterprises' move to allow down payments as low as 3% comes with some inherent risks, Fannie Mae executives are confident they can responsibly administer the new guidelines to ensure they're an effective tool for increasing access to credit.

Hiring in the mortgage sector increased for the fifth straight month in September.

Borrowers must have other factors such as housing counseling, stronger credit histories, or lower debt to income ratios to qualify for new low-down-payment loans, said FHFA Director Mel Watt.

Impac Mortgage Holdings lost $1.2 million this past quarter as total revenue declined by $4.6 million from the same period in 2013.

TRI Pointe has launched a new platform that is meant to provide homebuyers with end-to-end support throughout the closing process.

Redwood Trust Inc., the specialist in jumbo mortgages, said it entered into a risk-sharing deal with government-backed Fannie Mae on smaller home loans.

Freddie Mac is growing its single-family business and taking market share from its fellow government-sponsored enterprise Fannie Mae.

PennyMac Mortgage Investment Trust and its sister company, PennyMac Financial Services, reported a rise in quarterly profits.

Lack of diversity in the sales force is one of several nagging issues underlying mortgage lenders' concerns about tepid home sales.

Mortgage rates increased for the second consecutive week, according to data released Thursday by Freddie Mac.

We can't really talk about the millennial buyer until we talk about the baby boomer seller.

The move comes as the FHFA seeks to curtail advances to mortgage REITs and tighten FHLB membership rules.

First Commonwealth Financial had avoided making home loans for roughly a decade before determining that it needed to add the products to compete more effectively against smaller banks. It added the product at a time when a number of other banks are scaling back.

Until Congress gets around to GSE reform, the FHFA could at least make Fannie and Freddie less expensive to run. Combining the companies would reduce the threat that they will need more support from the Treasury and perhaps lower the cost of obtaining a mortgage.

The recent dip in mortgage rates isn't likely to spur a refi boom, but with the industry now into the fourth quarter of a tough year, many lenders are looking for ways to boost business.

In order to make homeownership more affordable, the FHFA should make sure that GSE guarantee fees fully recognize private mortgage insurance and restore the longstanding tax-deductible treatment of mortgage insurance premiums.

A U.S. District Court decision this week that blocked the use of a controversial legal theory in a fair housing case on discrimination has ignited industry hopes that the Supreme Court will take a similar stance on a separate, larger case pending before the high court.