Mortgages

Mortgage applications were up 2.9% from one week earlier, even as the rate for the 30-year conforming mortgage reached its highest point in over seven years, according to the Mortgage Bankers Association.

Purchases of new homes rebounded in August from the slowest pace in almost a year, a potential sign of stabilization in the market, according to government data Wednesday.

Tracy Ashfield, a veteran of the mortgage industry, will take over at American Credit Union Mortgage Association when Bob Dorsa retires in January 2020.

Cleveland-area house prices rose at a faster pace in July, even as price growth cooled in other major cities and across the nation.

When it comes to attracting millennials, mortgages could be the key to capturing this demographic for the long haul – provided CUs are willing to put in the work.

Teresa Blake, managing director of business optimization at KPMG, explains how top mortgage lenders phase in their digital mortgage capabilities and where new industry innovations are headed.

With hundreds of digital mortgage products on the market, lenders must focus on their core business objectives to avoid getting overwhelmed by all the bells and whistles, says Teresa Blake, managing director of business optimization at KPMG.

As the House Financial Services Committee prepares to hold a hearing Thursday on oversight of the Federal Housing Finance Agency, the exact focus of the hearing remains somewhat in flux.

Florence's flooding and wind destruction affected about 700,000 residential and commercial properties across North Carolina, South Carolina and Virginia, according to CoreLogic's latest estimates.

The senator’s bill to reform the 40-year-old law and expand housing investments could gain clout as Democrats look to pick up congressional seats and she eyes a presidential run.

Lower corporate tax rates weakened the incentive for developers to use the Low-Income Housing Tax Credit program, which could prompt affordable housing construction to fall by as much as 40% by 2022, according to data aggregator Reis.

Residential mortgage loan exchange provider Maxex has closed a new $38 million funding round it will use to improve and expand various aspects of its platform.

The supply of single-family homes on the market continued to shrink in August and prices rose, the Greater Capital Association of Realtors reported.

Home-price gains in 20 U.S. cities grew in July at the slowest pace in almost a year, a sign demand is increasingly bumping up against affordability constraints.

The housing market is stalling, and homebuilder stocks are feeling the pain.

Real estate crowdfund lender Sharestates introduced a new program to provide financing to investors to purchase nonperforming mortgage loans.

Mid America Mortgage CEO Jeff Bode is on a mission to show reluctant title agents and other business partners the value of embracing digital mortgages.

USAA will be eliminating 265 home sales and lending positions, but it already has offered nearly 100 of the affected workers different jobs within its mortgage unit.

Increased competition among non-qualified mortgage lenders leading to lower starting interest rates for borrowers should result in fewer of these loans prepaying within one year of origination, said Standard & Poor's.

A stronger economy, easing house price appreciation and slightly improving inventory conditions aren't enough to push up home sales this year, according to Freddie Mac.