Sterling National Bank Acquires Brooklyn Brokerage
New York-based Sterling National Bank has acquired the business of Universal Mortgage Inc., a residential mortgage broker based in Brooklyn. Universal's principals and...
New Asset Management Firm Targets Single-Family Rental Market
Oliver Chang, a former head of U.S. housing strategy at Morgan Stanley, has launched Sylvan Road Capital, an Atlanta-based asset management firm that...
Former Citigroup Manager Acquitted In Fraud Trial
The U.S. Securities and Exchange Commission (SEC) suffered a legal defeat when its fraud case against a former Citigroup manager ended in a...
Freddie Mac: Fixed-Rate Mortgages Up This Week
Well, it was bound to happen sooner or later: Freddie Mac reports that fixed-rate mortgages (FRMs) broke their streak of record-breaking lows and...
New eBook Offers Advice On Selecting Mortgage Software
A new eBook claims that mortgage lenders often fail to perform proper due diligence when selecting loan origination systems. 'For years, lenders have...
Study: Energy-Efficient Manufactured Homes Generate Economic Stability
Energy-efficient manufactured homes can save consumers $4.6 billion in energy costs over the next 20 years, according to a new study by the...
S&P/Case-Shiller: Home Prices Up 2.2% In May
Average home prices increased by 2.2% in May over April for both the 10- and 20-city composites covered by the S&P/Case-Shiller Home Price...
NCSHA: 41% Rise In HFA-Financed Single-Family Housing
The National Council of State Housing Agencies (NCSHA) is reporting a 41% increase in the number of single-family homes financed by housing finance...
Georgia Bank Closed; Colorado Credit Union In Conservatorship
A community bank in Georgia has been shut down while a credit union in Colorado was placed into conservatorship. Jasper Banking Co., based...
Justice Department Settles California Discrimination Lawsuit
The U.S. Department of Justice (DOJ) has announced an agreement with a California municipality and a homeowners association (HOA) to resolve allegations of...
21 Banks Sued Over LIBOR Manipulation
New York-based Berkshire Bank has filed a lawsuit against 21 banks for damages from the alleged manipulation of the London Interbank Offered Rate...
No Gold Medal For U.K. Mortgage Market
Mortgage approvals in the U.K. fell last month to an 18-month low, according to a report from Bloomberg News. U.K. lenders granted 44,192...
U.S. Homeownership Rate At 65.5% In Q2
The national homeownership rate was 65.5% in the second quarter of this year, slightly lower than the second quarter 2011 rate of 65.9%...
San Francisco To Vote On Affordable Housing Funding Proposal
San Francisco residents will have a chance this November to determine whether their taxes will be diverted to support a new funding stream...
AnnieMac Acquires Louviers Home Mortgage
Mount Laurel, N.J.-based AnnieMac Home Mortgage has acquired Wilmington, Del.-based Louviers Home Mortgage. Terms of the agreement were not made public. Founded in...
NAR: Pending Home Sales Down In June
Pending home sales declined in June, according to new data from the National Association of Realtors (NAR). NAR's Pending Home Sales Index (PHSI)...
Ex-Citigroup CEO Weill: Break Up The Big Banks
Former Citigroup Chairman and CEO Sanford I. Weill has come out in favor of breaking up the nation's largest financial institutions by separating...
Freddie Mac’s Mortgage Portfolio Down 2.5% In June
Freddie Mac's total mortgage portfolio decreased at an annualized rate of 2.5% in June, according to monthly volume data released by the government-sponsored...
FHFA Revealed To Hire Consultant For GSE Receivership Strategies
The Federal Housing Finance Agency (FHFA) has quietly hired New York-based PricewaterhouseCoopers LLP to create contingency plans for taking the government-sponsored enterprises (GSEs)...
Single-Family House Sales Down 8.4% In June
Sales of new single-family houses in June were at a seasonally adjusted annual rate of 350,000, according to estimates released jointly by...