Economy

MGIC Investment Corp. had third-quarter net earnings of $823 million, largely driven by a $698 million reversal of its deferred tax asset valuation allowance.

The Consumer Financial Protection Bureau backed off some of its initial plans in its final rule requiring lenders to collect more data from mortgage borrowers, but industry representatives warned the agency had not gone far enough.

Average fixed mortgage rates perked up the week ending Oct. 15, but remained under the 4% level for the 12th consecutive week.

WASHINGTON — The Consumer Financial Protection Bureau finalized a rule Thursday that requires lenders to collect more information from borrowers as part of mortgage disclosures.

Ditech Financial, a nonbank lender in Fort Washington, Pa., is the latest lender to bring back the piggyback mortgage by offering a closed-end home equity loan product.

A majority of consumers still think it’s a good financial decision to buy a home and most think they could sell their home for at least its initial purchase price, according to the National Association of Realtors.

Executives in the mortgage industry must "take a page from the real estate community" and be more active in Washington and their state capitals, said outgoing Mortgage Bankers Association Chairman Bill Cosgrove.

Ellie Mae has agreed to purchase St. Louis-based Mortgage Returns, which provides customer-relationship management services.

Mortgage banking represented one weak spot in Wells Fargo's third-quarter results and company officials said that would likely be the case in the fourth quarter.

Altisource has set its sights on the real estate services market with two acquisitions that will dramatically grow its business in this area.

Bank of America originated $13.7 billion of first-mortgage loans and $3.1 billion of home equity loans during the third quarter, the company said in its quarterly earnings release.

The outlook for originations, and regulators' priorities for 2016, will dominate discussions throughout the Mortgage Bankers Association's Annual Convention in San Diego next week. Earmark these eight hot topics and features to seek out at the show.

LendingTree already offers a Yelp-like community where consumers can rate loan officers. Now it has created a question-and-answer forum within its loan officer directory platform.

The nonprofit behind McGruff the Crime Dog has designated mortgage fraudsters as its next target.

Mortgage application volume fell 27.6% on an adjusted basis for the week ending Oct. 9, reversing the rush of the previous week caused by the TILA-RESPA Integrated Disclosure rule becoming effective, according to the Mortgage Bankers Association.

PNC Financial Services Group reported third-quarter profit that beat analysts' estimates as the lender cut costs to counter a decline in revenue.

Homeowners continue to give their properties a higher valuation than appraisers would, according to Quicken Loans.

California priced $446 million in veterans' general obligation bonds last week in a combined refunding/new money sale.

National foreclosure inventory fell to 470,000, or 1.2% of all mortgaged homes in August, compared with 629,000, or 1.6% of all mortgaged homes in August 2014, CoreLogic reported Tuesday.

"How's TRID going with you?" is sure to be the most-asked question at the Mortgage Bankers Association's Annual Convention, but fair lending compliance and the Qualified Residential Mortgage rule are among the key market developments that will dominate conversations.