Housing

The Justice Department has widened its investigation of Fulton Financial’s mortgage lending practices to include four new units.

San Francisco has completed the transfer of ownership of its public housing sites from the San Francisco Housing Authority to community-based affordable housing teams, part of a long-term bond-financed initiative begun in 2013.

The Mortgage Bankers Association's Opens Doors Foundation has raised more than $59,000 as a charity partner of the New York City Marathon.

Fannie Mae's new representation and warranty relief offers lenders a long-awaited incentive to use its automated loan validation technology. But is it enough for lenders to make the necessary technology updates and process changes to implement the tools?

If Democrats succeed in winning control of the Senate after next week's election, the gavel of the Senate Banking Committee is likely to fall to Sen. Sherrod Brown, a progressive from Ohio who has called on the biggest banks to hold significantly more capital.

Pennsylvania Treasurer Timothy Reese launched a $100 million initiative that he said would provide a competitive rate of return while supporting affordable housing.

The Federal Reserve has maintained historically low interest rates for too long, causing superficially high prices in housing and other assets. The outcome of the presidential election will likely decide whether the Fed maintains the status quo or embraces risk and raises rates.

The mortgage industry is welcoming the Obama administration's possibly final word on housing finance reform, hoping it will serve as guidepost for the future.

Mortgage brokers were among the companies that received the regulator's warning letters, but brokers are not required to report HMDA data — leading many to suspect mini-correspondents, which straddle the line between broker and lender, were the recipients.

Both Fannie Mae and Freddie Mac failed to achieve their low-income and very low-income single-family home purchase goals for 2015, the Federal Housing Finance Agency annual housing report said.