Housing

A proposed 50% expansion to the Low Income Housing Tax Credit program would yield new opportunities for banks to finance development projects and meet their Community Reinvestment Act obligations.

Benefiting from higher loan guarantee income and lower derivative losses, Freddie Mac said Tuesday it had made $993 million in the second quarter, a dramatic reversal from its $354 million loss a quarter earlier.

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.

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.

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.

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.

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.

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

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.

Mortgage originators aren't lending enough to people of color or the poor in the St. Louis, Milwaukee and Minneapolis metropolitan areas, the National Community Reinvestment Coalition said.

A private flood insurance bill passed by the House is making Fannie Mae and Freddie Mac uneasy because they fear it could lead to greater losses, according to a recent report by the Government Accountability Office.

A California man was sentenced to more than nine years in federal prison for his role in leading a mortgage loan modification scheme that defrauded more than 1,000 homeowners nationwide.

Federal Housing Administration borrowers have been refinancing faster than expected, creating a drag on efforts to build up the capital reserves of the agency's mortgage insurance fund.

Synovus Financial in Columbus, Ga., reported higher second-quarter earnings on solid growth in revenue and loans for investment properties.

The Mortgage Partnership Finance Direct program will now accept larger jumbo mortgages and a wider variety of products including hybrid adjustable rate mortgages, the Federal Home Loan Bank of Chicago and Redwood Trust said Monday.

The Senate approved a bill Thursday by unanimous consent that includes major reforms to the Federal Housing Administration condominium loan program and the Rural Housing Service loan program.

The selection of Indiana Gov. Mike Pence as Donald Trump's running mate could clarify the presumptive Republican nominee's banking policy views, adding a policymaker to the ticket who has been outspoken about the Dodd-Frank Act, "too big to fail" and the CFPB.

WASHINGTON — Republican lawmakers put Department of Housing and Urban Development Secretary Julian Castro on the hot seat Wednesday, criticizing his decision to allow nonprofit community groups to bid on more nonperforming Federal Housing Administration loans.

Freddie Mac is on track to issue mortgage-backed securities via a common securities platform by the end of this year, according to the Federal Housing Finance Agency.