Housing

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.

The scheme is used by borrowers who don't have enough income to qualify for a regular mortgage, so they apply for a higher-rate non-owner-occupied loan.

The Federal Housing Finance Agency has opened the door to experimenting with front-end credit risk transfer transactions, but it is not wide enough for some market players.

Fannie and Freddie regulator's first report on NPL sales shows more borrowers avoid foreclosures when their loans are sold to investors.

NPL investors will have to consider principal reductions and offer more sustainable loan modifications.

WASHINGTON — The Federal Home Loan banks of Topeka and San Francisco have signed up to participate in a Mortgage Partnership Finance program that pools and securitizes government-backed loans via Ginnie Mae.

WASHINGTON — Big banks have drastically reduced their share of the Federal Housing Administration market, a massive shift that has big implications, according to new analysis by the American Enterprise Institute.

The market gyrations following the United Kingdom's vote to leave the European Union have an upside for mortgage lenders, as already-falling interest rates are expected to boost home purchases and refinancing.

For the first time, Ginnie Mae has edged out Freddie Mac as the second largest securitization platform.