Mortgages

The Federal Housing Administration reported better than expected financial results on Monday, with the ratio of reserves to guaranteed loans soaring past its minimum threshold to reach 2.07%.

FHA loosens condo owner-occupancy rules and pledges to make further changes to facilitate condo financing.

WASHINGTON — Four Federal Home Loan Banks have recruited 74 members to participate in their new Mortgage Partnership Finance jumbo loan program.

The added clarity provided by the Federal Housing Administration's revised single-family handbook comes at the expense of lender flexibility to get loans qualified, including a popular workaround for borrowers with deferred student loan debt.

The Consumer Financial Protection Bureau is pushing back against a lawsuit from PHH Corp. that claims the agency erred in overturning an administrative law judge's recommendation to limit the amount of penalties it could face.

Fannie Mae was affected by the same derivatives accounting mismatch that led to Freddie Mac's first quarterly loss in four years. But its bulk and balance sheet provided enough cushion for the larger of the two government-sponsored enterprises to post a profit for the third quarter.

Wells Fargo has agreed to pay $81.6 million to settle a federal investigation into its alleged failure to properly notify homeowners of increases in their mortgage payments.

Nationstar will provide servicing-released option for fledging Chicago's MPF Government MPF program.

Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.

While Texas has been among the strongest housing markets in the country over the past few years, the recent decline in oil and gas prices is affecting its housing market at a time when an overall sluggish economy can't pick up the slack.