Economy

President Obama called for Fannie Mae and Freddie Mac to be eliminated, but Democratic policymakers attending the convention in Philadelphia appear resigned to the fact that Congress is unable to act on housing finance reform.

Hedgeable sees the peer-to-peer business and personal loans as an alternative to fixed-income investments that are traditionally offered through exchange-traded funds.

As if high default costs haven't been challenging enough for mortgage servicers, a growing number of seriously delinquent loans are Federal Housing Administration products, which require significant upfront investment to resolve.

Suffolk Bancorp in New York, which recently agreed to be sold to People's United Financial, discouraged several suitors from bidding due to concerns about concentrations of commercial real estate loans at those banks. The disclosures highlight the challenges that banks with heavy CRE exposure could face — as buyers or sellers — if they want to do deals.

WASHINGTON — Fannie Mae is making its housing counseling requirements more flexible so additional borrowers can qualify for its low-down-payment, affordable loan program called HomeReady.

Virgin Money Holdings, the bank backed by billionaire Richard Branson, postponed plans to start lending to small businesses as Britain faces a potential economic slowdown after voting to leave the European Union.

Sens. Bernie Sanders, D-Vt., and Elizabeth Warren, D-Mass., said presumptive Democratic presidential nominee Hillary Clinton will ensure big banks do not again threaten the financial system.

Despite fears that increased compliance costs from new Consumer Financial Protection Bureau rules could drive community lenders out of the mortgage business, a watchdog report found that smaller companies remain active.

Now that Verizon has nailed down a deal to buy Yahoo's search and advertising business, it's starting to look a lot more like Google — and it might even have the tools to take a second stab at the payments industry.

Regulators sought to limit improper contact between lenders and appraisers, but policies of the two mortgage giants encourage the kind of practices that contributed to the housing crisis.

Federal regulators warned mortgage servicers Monday that they will still expect them to offer loan modifications to distressed homeowners even after the Home Affordable Modification Program expires at yearend.

Multifamily family construction is reaching the point where some markets can't absorb the new supply of units.

Visa and Mastercard both face the prospect of becoming "dumb pipes" as other companies innovate on top of their networks. To combat this trend, both are taking steps to be major players in the digital economy.

The Consumer Financial Protection Bureau's plan to rein in payday and other lenders has some noticeable benefits for consumers, but much of the proposal should be revised.

Of the 10 fintech startups that pitched their wares at startupbootcamp FinTech New York on Wednesday, half plan to sell their software to banks. Only a few vie to take on established players.

N26, a Berlin startup that offers financial services directly to consumers, said Thursday it's received a German banking license that will let it offer a fuller range of products across Europe.

In markets where consumers spend a substantial amount of income on housing, it's often cheaper to rent than buy. But in these expensive markets, owning a home is more affordable.

HUD reverses course and decides to investigate findings by Inspector General that some DPA programs don't comply with FHA rules.

In an acknowledgement that many U.S. small businesses cannot qualify for a bank loan, a federal agency that assists minority-owned firms is now partnering with a pair of online lenders.