Housing

In 1979, mortgage bankers worried that they could be undercut by "sleeping giants" like Merrill Lynch, Sears Roebuck and what was then called Master Charge.

Just 8% of U.S. mortgage origination volume in the second quarter went to borrowers with subprime credit scores, according to new research by the New York Fed. The findings suggest that mortgage standards have loosened only slightly, if at all.

The Federal Housing Finance Agency is expected to issue a proposal soon that would require Fannie Mae and Freddie Mac to purchase manufactured housing loans from lenders.

Homeownership is out of reach for too many Americans. The next president could change that with a few simple policies aimed at encouraging private capital to invest in residential mortgages.

Consumers' growing confidence about their ability to qualify for a mortgage is generating more foot traffic, sales orders and loan volume for some of the nation's largest homebuilders.

Ocwen Financial's internal review group is "independent," and the Atlanta servicer is in compliance with the national mortgage settlement, settlement monitor Joseph A. Smith said Tuesday.

A federal judge has overturned a New York City law that would have required banks to make new disclosures regarding their investments in local communities.

The New York Bankers Association is challenging the legality of a local law that is designed to cajole banks into making larger investments in poorer communities. The outcome could be an important precedent in relation to similar laws in other cities.

Despite being introduced to the market with great fanfare, Fannie Mae's 3% down payment mortgage offering has yet to gain much traction with lenders and consumers.

M&T Bank said it's in discussions with U.S. officials to settle an investigation into the lender's origination and sale of federally insured home loans.