Industries

Two Florida men have been sentenced for their roles in a mortgage fraud scheme that resulted in about $24 million of losses for several financial institutions, including M&T Bank in Buffalo, N.Y.

Fannie Mae is revamping its affordable mortgage program to make it easier for low- and moderate-income families to qualify for low-down-payment loans.

Toll Brothers Inc., the largest U.S. luxury homebuilder, said fiscal third-quarter earnings fell as lower prices and unit sales caused revenue to decline.

Purchases of new homes rebounded in July, bolstering signs the real estate market is picking up.

Home prices rose 0.9% from May to June, according to Black Knight Financial Services' Home Price Index. Prices rose 5.1% compared to a year ago.

A Virginia woman has pleaded guilty to leading a mortgage-fraud ring that victimized hundreds of Hispanic residents in the northern part of the state and caused millions of dollars in losses for lenders.

The inventory of loans in foreclosure fell 24% in July to a rate of 1.4%, compared to a year earlier, Black Knight reported.

Many Californians who earn the median household income for their area cannot afford to buy a house where they work, the California Association of Realtors said.

There's nothing like a natural disaster to make people realize how important insurance is to the banking industry.

Homebuyers may be missing out on a wide range of programs that can help them afford their purchases — programs their agents either don't know about or don't want to bother with.

Ocwen Financial has partnered with several local organizations to sponsor seminars to help homeowners stay in their homes.

Potential homebuyers were most worried about price in the second quarter, according to a new Redfin survey.

The number of homes that have recorded yearly declines in value of at least 2% has risen sharply, according to Weiss Residential Research.

Detroit property values have increased the most in percentage of value of any city in the U.S. over the last year, a mortgage consulting firm found in its monthly survey.

Bank repossessions of distressed homes hit a 30-month high in July, as financial institutions continue to work through the backlog of bubble-era loans.

Purchases of previously owned homes unexpectedly rose in July to the highest level since February 2007, consistent with further strength in the housing market.

The Federal Housing Finance Agency on Wednesday officially increased the target for loans purchased by Fannie Mae and Freddie Mac that benefit affordable housing, but the uptick is not satisfying housing advocates.

Mortgage Contracting Services will close the Utah office of its MCS Valuations subsidiary and consolidate its operations into three offices nationwide.

Home sales in July rose 11.3% from a year earlier, as lenders appear to be loosening access to credit, according to Re/Max.

Mortgage lending to low-income families could increase slightly under a plan by Federal Housing Finance Agency Director Mel Watt.