Mortgages

Credit Suisse Group is seeking to sell almost $300 million of notes tied to mortgage-insurance policies written by an American International Group Inc. unit, offering investors a new way to profit from a reviving U.S. housing market.

Fannie Mae is selling three pools of nonperforming loans totaling $788 million in unpaid principal balance, the government-sponsored enterprise announced Thursday.

New-home construction climbed in June to the second-highest level since November 2007 as builders stepped up work on apartment projects.

Umpqua Holdings in Portland, Ore., reported higher second-quarter profit, citing lower merger costs and growth in residential real estate lending and equipment finance.

Webster Financial in Waterbury, Conn., reported second-quarter profit of $50.5 million, a 12% jump from a year ago, as mortgage banking revenue improved.

Citigroup's second-quarter profit got a modest boost from Citi Holdings, a unit set up six years ago as a dumping ground for toxic assets. After losing billions for years, Citi Holdings has now become a minor profit source for its parent.

Wintrust Financial in Rosemont, Ill. reported higher second-quarter profit due to loan portfolio growth and higher mortgage banking revenues.

Creditors of a Dallas-based special servicer and mortgage services firm that filed Chapter 7 bankruptcy this week include technology providers, financial institutions and property management companies.

Mortgage applications for new-home purchases rose 1% during June compared with the previous month as housing prices continue to recover, according to the Mortgage Bankers Association.

The Cleveland company, which this spring said it had decided to start originating its own mortgage loans again, shared more details on the start date of this new effort and the rationale behind it.

Foreclosure volume was down 3% for the first six months of 2015 compared with the same time span last year, a new report from analytics firm RealtyTrac found.

Citigroup's combined gain-on-sale and mortgage servicing revenue increased by 34% in the second quarter over the same period last year.

Incorporating bill and rental payment data into consumer credit scores would be a boon for underserved Americans. New legislation in Congress could help credit reporting agencies realize this goal.

Confidence among homebuilders held in July at the highest level since November 2005, indicating the residential real estate market may be picking up speed.

Mortgage rates for 30-year loans rose to the highest since October after Federal Reserve Chair Janet Yellen reiterated plans to increase borrowing costs this year and the likelihood of a Greek exit from the euro region faded.

M&T Bank reported a higher quarterly profit that reflected increased fees and higher net interest income.

June's home sales are up 12% over the same month in 2014, according to the Re/Max National Housing Report.

The housing market may get a bump from two groups — first-time homebuyers and Hispanic consumers, according to a TD Bank survey.

Federal Housing Administration endorsements continue to rise following the 50-basis point cut in January.

Residential mortgages for new-home purchases increased in June, according to an Ellie Mae report.