Mortgages

JPMorgan Chase has agreed to sell its U.S. Department of Agriculture Rural Development mortgage origination business to Freedom Mortgage of Mount Laurel, N.J.

The government agency that guarantees securitizations of Federal Housing Administration-insured loans is testing a pool type that consists only of modified and reperforming loans.

Scammers pocketed $3.8 million from troubled homeowners nationwide and did nothing to modify their loans, according to the special inspector general for the Troubled Asset Relief Program.

Fannie Mae has unveiled a mortgage for borrowers who want to finance energy and water efficiency improvements to their homes.

Huntington Bancshares has partnered with the owner of the NBA's Detroit Pistons to provide $25 million in financial support in Flint, Mich., in response to the city's drinking water crisis.

Bankers are fighting back against a plan that would allow Fannie Mae and Freddie Mac to invest in low-income housing tax credits, arguing they are critical for meeting Community Reinvestment Act requirements.

Five policy heavy-hitters issued a proposal this week to merge Fannie Mae and Freddie Mac into a single government corporation as a way to move beyond the conservatorships of the two government-sponsored enterprises.

The Federal Housing Finance Agency appears poised finally to allow principal reductions, but it's been nearly a decade since the mortgage crisis and underwater borrowers are much fewer thanks to higher home values.