Real estate

Signs of optimism are growing for acquisition, development and construction loans as banks hone strategies in a market transformed by the crisis.

The range of loan products offered by mortgage lenders and investors has been narrow since the housing crisis, but a few underserved niches are starting to make a comeback.

Housing markets are steadily improving nationwide, according to the latest Freddie Mac's Multi-Indicator Market Index.

Demand for home purchases rose in June although more slowly than in previous months, the online real estate brokerage Redfin said. The firm also projected a slowdown in the rise of home values.

Astoria Financial in Lake Success, N.Y., reported a 40% increase in second-quarter earnings as stronger fee income from mortgages helped it overcome a considerable shrinkage in loans.

Purchases of new homes unexpectedly retreated in June and prior readings were revised down, painting a picture of less robust improvement during the industry's busiest time of year.

Ares Management LP and Kayne Anderson Capital Advisors LP are merging to create Ares Kayne Management LP, an alternative investment group whose $113 billion in assets will rank it among the world's biggest private equity firms. Ares Management's real estate group provides debt and equity financing for commercial properties.

One of the biggest U.S. mortgage lenders is looking to disrupt the disruptors in the market for peer-to-peer loans.

National Penn Bancshares in Allentown, Pa., said its second-quarter profit improved as increased real estate lending offset higher expenses.

Old Republic International Corp. doubled its title insurance revenue during the second quarter, while First American Corp.'s commercial title business was a significant driver of growth.

Texas Capital Bancshares in Dallas has formed a mortgage correspondent aggregation business line, to complement its existing mortgage finance business.

Zillow Group in Seattle has agreed to buy DotLoop in Cincinnati, a provider of real estate document technology.

The West Coast continued to dominate the top housing markets across the country in terms of property values, according to the most recent Home Value Forecast offered by Pro Teck Valuation Services.

The Mortgage Bankers Association on Wednesday said the housing market recovery has shifted to "a higher gear," and it raised its forecasts for total originations and home purchases for this year and 2016.

Sales of previously owned U.S. homes climbed to an eight-year high in June as momentum in the residential real estate market accelerated.

Mortgage application volume rose 0.1% for the week ending July 17, a slight uptick from a week earlier, according to the Mortgage Bankers Association's weekly survey.

Consumer credit defaults increased during June, according to data from the S&P Dow Jones Indices and consumer credit reporting agency Experian.

Clients of commercial real estate crowdfunding platform Selequity can now get short-term financing from CRE lender Virtual Realty Enterprises.

Synovus Financial in Columbus, Ga., reported higher second-quarter income tied to a lower loan-loss provision.

The Federal Home Loan Bank of Dallas' Affordable Housing Program celebrated its 25th anniversary on July 16.