Housing

In an election year dominated by controversy and big personalities, political contributions from the mortgage industry have remained muted, reflecting apathy and uncertainty toward Hillary Clinton and Donald Trump.

Bank of America is expanding a program that provides 3% down payment home loans through a partnership with Freddie Mac and a North Carolina credit union.

In a move designed to help further calm lender fears about mortgage repurchase liability, Fannie Mae is preparing to offer immediate representation and warranty relief to lenders that use its suite of automated quality assurance technology.

To successfully respond to the most pressing challenges facing the mortgage industry right now, lenders and servicers must navigate issues of competition, governance, affordability and margins.

Independent mortgage bankers are concerned that if Congress votes to privatize the Common Securitization Platform, it could give large banks too much control over the real estate finance market.

Mortgage industry groups are frustrated by the lack of progress on real estate finance reform, and that spurred one group — the National Association of Home Builders — to endorse Congressional candidates for the first time.

New American Funding and Alterra Home Loans have selected Radian Group as the preferred private mortgage insurance providers for their Your Path loan program.

Regions Financial in Birmingham, Ala., has bought a business that manages low-income housing tax credits.

The housing industry has staunchly defended the mortgage interest tax deduction as an essential tool for promoting homeownership. But attitudes are softening, as data show the low- and moderate-income homebuyers who need the subsidy the most are getting the least benefit.

M&T Bank is offering mortgage subsidies through a new program to qualified consumers in New Jersey and nearby states.