FINRA Fines Citigroup For RMBS Problems
The Financial Industry Regulatory Authority (FINRA) has fined Citigroup Global Markets Inc. $3.5 million for providing inaccurate mortgage performance information, supervisory failures and...
U.S. Census And HUD Data Show A Bump In New-Home Sales
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development have released data indicating that sales of new single-family homes...
Fitch: Residential Prices Nearing Bottom, Attracting Investment
Fitch Ratings says it expects real U.S. residential real estate prices to decline by 7.8%, down from last quarter's 9.1% expectation. With annual...
Refinance Activity Drives Mortgage Application Rates Higher Again
Mortgage applications increased 3.8% from a week ago, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the...
California Pending Home Sales Down Slightly In April
After posting a strong performance in March, California pending home sales slipped in April, but were higher than a year earlier for the...
Nominees Sought For Credit Union Lending Awards
CUNA Mutual Group and the CUNA Lending Council are now accepting nominations for the 13th annual Excellence in Lending Awards, which recognizes outstanding...
RBC Gets Permission For Covered Bond Sales In U.S.
The U.S. Securities and Exchange Commission (SEC) has granted permission for Royal Bank of Canada (RBC) to issue covered bonds as publicly registered...
NAR: Existing-Home Sales Up In April
Existing-home sales increased 3.4% in April to a seasonally adjusted annual rate of 4.62 million, up from the downwardly revised 4.47 million in...
GE Executive Named President Of PHH Mortgage
Mount Laurel, N.J.-based PHH Corp. has appointed David E. Tucker president of PHH Mortgage Corp., the company's mortgage origination and servicing subsidiary. Tucker...
Fitch Ratings: Mortgage-Fueled Debt Raises Canadian Lenders’ Risks
Household debt driven by mortgage credit expansion in the Canadian market is the main threat to the credit risk profiles of Canadian financial...
New Report: FHA Prioritizing High-Income Borrowers
The Federal Housing Administration (FHA) appears to be putting its historic mission of assisting lower-income borrowers on hold and is increasingly serving home...
Buffett Reportedly Rebuffed On ResCap Purchase
Ally Financial Inc. reportedly gave billionaire investor Warren Buffett the thumbs-down when he sought to buy the company's troubled Residential Capital (ResCap) mortgage...
Alabama Community Bank Is Shut Down
Alabama Trust Bank, based in Sylacauga, Ala., was closed by the Office of the Comptroller of the Currency, which appointed the Federal Deposit...
Irish Mortgage Market Takes 30% Drop During Q1
The value of new mortgage lending in Ireland plummeted 30% during the first quarter of this year and is now approximately one-third of...
Iraq Budgets $4 Billion For Housing Needs
The government of Iraq is planning to spend $4 billion on housing through 2016 in order to address the nation's severe housing shortage....
RE/MAX: Median Home Sale Prices Up In April
The U.S. median sales price of homes sold in April was $161,000, up 3.2% from March and 5.9% higher than the median price...
Bay Area Home Sales Continue To Show Strength
Home sales in the San Francisco Bay Area increased last month to their highest level for an April since 2006, according to new...
Senate Confirms Obama’s Nominees For Fed Board
The U.S. Senate has confirmed President Obama's nominations of Jeremy Stein and Jerome Powell as governors of the Federal Reserve System. Stein, who...
MGIC Files Lawsuit Against Freddie Mac And FHFA
Milwaukee-based MGIC Investment Corp. has announced that its Mortgage Guaranty Insurance Corp. subsidiary has filed a lawsuit in the Federal District Court of...
GAO Report Slams FHFA For Computer Security Failures
The Government Accountability Office (GAO) has issued a report that criticizes the Federal Housing Finance Agency (FHFA) for numerous problems in its information...