Mortgages

Home Equity Conversion Mortgages have gotten a bad rap, but they're often a better alternative to home equity lines of credit for both borrowers and lenders.

The number of homes that are financially underwater decreased in the second quarter, as property values for the bottom third of the market saw faster rates of growth, according to Zillow.

Non-bank originators add 3,200 new employees in July.

Randolph Savings Bank in Massachusetts has agreed to buy First Eastern Bankshares in Andover, Mass.

Mortgage professional hiring and new job appointments for the week ending Sept. 4.

Two top Justice Department and CFPB officials said this week that they are seeing more instances of redlining and lenders steering minority borrowers into higher cost loans.

Wells Fargo has named Michael DeVito head of mortgage production, making him responsible for its retail and correspondent lending divisions.

The Hispanic Federation and New York Urban League have partnered to encourage homeownership among low-income and minority groups and to provide financial education.

Mortgage credit availability loosened in August as lenders have more jumbo loan products and added loans for borrowers with less-sterling credit, according to the Mortgage Bankers Association.

Interest rates on fixed-rate mortgages rose this week as the stock market remained volatile, according to Freddie Mac.

About a fifth of the $163 million in credit Citi has earned under terms of the 2014 settlement would be considered extra credit. Citi can earn extra credit by doing things such as completing loan modifications early or reducing loan-to-value ratios below certain levels.

Regulators are unsympathetic to lender losses created by loan officer mistakes, but even with a close reading of compensation rules, a compliant path is still unclear.

Almost half of single-family houses in the New York and Washington metropolitan areas are losing value, a sign that buyers' tolerance for high prices in many large U.S. cities may be reaching a limit.

If you have a modified mortgage made around the time of the U.S. housing market’s peak, Cerberus Capital Management probably wants to buy it.

Blackstone Group LP acquired a "significant equity stake" in mortgage insurer PMI Group Inc.

New Jersey Community Capital in New Brunswick won a Fannie Mae auction of nonperforming loans.

The price of loans that underlie commercial mortgage-backed securities rose in July on a monthly basis, according to DebtX.

American Homes 4 Rent is sticking with a feature that reduces refinancing risk in its upcoming single-family rental securitization.

The Home Mortgage Disclosure Act data set to be released in the next few weeks will offer new proof that mortgage lending activity was stronger than expected last year. That fresh data, the likely delay in Fed action on rates and other factors could prompt higher volume estimates for 2015.

After his son was born with a number of serious medical conditions, Atlantic Coast Mortgage's Thad Musser has made it a personal mission to show gratitude to the hospital responsible for his treatment. Little did he know these gestures would help him bond with customers who have faced similar experiences.