Mortgages

KB Home reported a profit for its fiscal second quarter as selling prices and orders increased.

New York State has launched Mortgage Assistance Program, a loan modification alternative for borrowers at the brink of foreclosure.

Treasury Secretary Lew said he would direct senior staff to bring together MBS investors and issuers to develop guidelines to reassure both sides they won’t be saddled with unfair losses.

The number of home retention actions taken by the largest banks in the first quarter was more than three times the amount of completed foreclosures, short sales and deed-in-lieu-of-foreclosure, according to a regulatory report released Thursday.

Workers in the legacy asset servicing division were informed of the latest cuts Wednesday.

Unless the industry is content to be a boutique player with a hugely smaller pool of potential borrowers, it had better emulate the Fed and ease on down the road.

Mortgage rates fell for a second week, lowering borrowing costs as the housing recovery gets a second wind.

The apartment sector is still pretty strong. For single-family to challenge it, employment growth may need to strengthen, notwithstanding the burgeoning market for rental house securitizations and rebounding home prices.

Mortgages were more profitable to originate in the first quarter even though a lot fewer were made, according to the accounting firm Richey May. Secondary marketing gains came to the rescue.

The Senate Banking Committee approved Julian Castro, the mayor of San Antonio, on Wednesday to head the Department of Housing and Urban Development.

In light of new regulations, servicers need to take a fresh look at their servicing file tools, processes, policies and procedures.

It’s going to become important for mortgage originators to educate prospective homeowners on actions they can take to lower their student loan payments, and thereby move them closer to homeownership.

Mortgage applications took another dip last week despite interest rates across all loan categories decreasing.

The regulator of Fannie Mae and Freddie Mac will conduct a series of town-hall events to convince hundreds of thousands of U.S. borrowers with little or no equity in their homes to refinance.

Ocwen hopes to do more with a novel transaction structure that transfers the prepayment risk of mortgage servicing rights. Other companies are exploring ways to finance a notoriously hard-to-finance asset.

Fannie Mae and Freddie Mac suffered "significant financial harm" from "excessively-priced" force-placed insurance, an inspector general's report says, advising their regulator to assess whether to sue banks and insurers for damages.

Wholesale lenders are capping broker compensation at 2.75%, below the CFPB's 3%, adding another "overlay" above and beyond regulatory requirements. Some say borrowers are being shut out as a result.

When serving United Nations employees, knowing how to explain the ins and outs of housing finance in the U.S. is a must. Fortunately for Chip Allen, mortgages run in his blood.

Purchases of new homes in the U.S. rose in May by the most in 22 years, indicating the industry is rebounding from a winter-induced lull at the start of the year.

The Association of Mortgage Investors made the plea to Attorney General Eric Holder following reports that Bank of America and Citigroup were attempting to negotiate multibillion dollar accords that would grant credits for loan mods.