Technology

Purchases of previously owned homes unexpectedly declined in August for the first time in five months as investors retreated from the market.

The commitment by the two housing giants marks a win for upstart VantageScore Solutions in its quest to compete against industry leader Fair Isaac Corp. However, the outcome of the review is uncertain, and Fannie warned that the costs of adopting new credit scores might prove to be "substantial" for lenders and others.

The loosening of mortgage credit "hasn't been as significant as some have reported," and first-time buyers remain scarce, complains Stuart Miller of homebuilder Lennar.

Home values in the United States rose more slowly in August on a monthly basis than they have in a year, according to Zillow.

Home loans to lower-income Americans are dwindling as Washington regulators and major banks continue to haggle over who pays when riskier mortgages go bad.

Hope LoanPort has partnered with technology provider IndiSoft to launch the National Homeownership Solutions Platform.

Trulia, a San Francisco-based online marketplace, is offering mortgage lenders and agents the ability to coordinate their marketing efforts with real estate agents.

Housing starts slumped in August after reaching the highest level in almost seven years, pointing to an uneven pickup in the residential real estate market that will limit its contribution to economic growth.

Mortgage rates jumped to a four-month high, increasing home-loan costs as the economy shows signs of strengthening.

FormFree Holdings, an Atlanta-based provider of borrower asset verifications, is integrating its AccountChek software into Ellie Mae's Encompass mortgage management solution.