Technology

Recovery rates for liquidated commercial mortgage-backed security loans rose during the first half of this year after reaching historic lows the two previous quarters, according to Fitch Ratings.

Fannie Mae and Freddie Mac, which attracted investors such as hedge-fund manager Bill Ackman even as the mortgage giants hand over their profits to taxpayers, are tumbling again.

Contracts to purchase previously owned homes declined in August as tighter credit and limited wage growth weigh on potential buyers.

An improving economy and better execution of loan modifications have meant fewer redefaults on restructured mortgages, the Office of the Comptroller of the Currency said Thursday.

Black Knight Financial Services has added new features to its loan origination system designed to further automate mortgage lending and compliance.

The number of homes nationwide with negative equity dropped significantly in the second quarter, according to the financial information firm CoreLogic.

In August the nation's mortgage loan delinquency rate increased nearly 5% over the previous month to its highest level since February, according to Black Knight Financial Services.

Mortgage rates dropped from a four-month high, reducing borrowing costs as demand for housing improves.

Starwood Waypoint Residential Trust has purchased a pool of delinquent loans and bank-owned homes for a total price of $73.3 million.

KB Home, the Los Angeles-based homebuilder, fell the most in a year and a half after reporting lower-than-expected quarterly earnings as the transition to a new mortgage partner delayed some deliveries.