Industries

New-home construction unexpectedly fell in September on a plunge in multifamily building while permits rose more than forecast, in signs of fitful progress in residential real estate.

MGIC Investment Corp. posted the biggest intraday gain in 11 weeks as third-quarter operating profit advanced on lower costs tied to soured home loans.

Confidence among homebuilders cooled in October from an 11-month high, reflecting a pause in the market for single-family houses.

Comerica is gaining momentum after a rough start to 2016.

Regions Financial reported a higher third-quarter profit, citing improved fee income from mortgage lending, capital markets and credit and debit cards.

Fluctuations in home price and wage gains have created a volatile outlook for housing affordability across the country. By better deciphering market data, mortgage companies can hone their strategies to respond to prevailing economic trends.

To successfully respond to the most pressing challenges facing the mortgage industry right now, lenders and servicers must navigate issues of competition, governance, affordability and margins.

Independent mortgage bankers are concerned that if Congress votes to privatize the Common Securitization Platform, it could give large banks too much control over the real estate finance market.

Mortgage industry groups are frustrated by the lack of progress on real estate finance reform, and that spurred one group — the National Association of Home Builders — to endorse Congressional candidates for the first time.

Shifting demographics are leading to a rise in the number of millennials and minorities, but homeownership rates among these groups remain depressed. One contributing factor is the lack of mortgage industry hiring and marketing focused on these demographics.

Bank of America's first-mortgage originations increased 23% over the third quarter of 2015, as rates remained near record lows throughout the summer.

New American Funding and Alterra Home Loans have selected Radian Group as the preferred private mortgage insurance providers for their Your Path loan program.

Fitch Ratings has identified more than 1,000 properties in commercial mortgage-backed securities transactions that had exposure to Hurricane Matthew.

Regions Financial in Birmingham, Ala., has bought a business that manages low-income housing tax credits.

A leader who surrounds herself with diverse thought and talent, Nikki Groff of Wallick & Volk Mortgage Bankers, formed a team that helped propel her to Top Producer status from a small Arizona town.

Wells Fargo & Co., the lender whose chief executive officer stepped down this week amid a scandal in its branch network, posted a third-quarter profit that beat analysts' estimates as loan-loss provisions improved and revenue from mortgage banking increased.

West Town Bancorp in Illinois has revved up its government-backed lending to small businesses, making it a good example of how community banks can outhustle big lenders in the quest for new sources of fee income.

Loan applications for new home purchases rose 3% in September over the previous year, but continued year-over-year growth could be subdued for the rest of 2016, according to the Mortgage Bankers Association.

Foreclosure filings dropped to the lowest level reported since December 2005, signaling the end of the country's foreclosure crisis, according to Attom Data Solutions.

NeighborWorks reported Wednesday that 56% of survey respondents said that rents are too high where they live for them to be able to save enough to buy a home.