Underwriting

Three of the four largest title insurers were profitable in the third quarter; First American's loss should set it up for future gains, its execs said.

Even as home equity withdrawals hit a two-year high, utilization rate remained less than half of normal, ICE Mortgage Technology said.

Flueid, which provides verification of title services, has raised $8.3 million of new capital, with lead investor LiveOak Ventures along with Gilbert's Detroit Venture Partners.

The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.

As it gets ready for more competition from VantageScore, the company also did not comment on reports of yet another impending price hike.

The capital markets platform will allow its investor clients to compare non-qualified mortgage rate sheets to their competitors for free.

Backflip, a fix-and-flip and residential transition loan originator, added $184 million in new capital from equity and debt transactions, its second raise of the year.

While rate-and-term refinance locks boomed, the rise in purchases also was telling as it was the first since the Fed started raising rates, Optimal Blue said.

Jay Venkateswaran, business unit head of banking and financial services at WNS Global Services, said the best lenders are preparing now for expectations of increased business at least two quarters in the future.

Activist John Hope Bryant has suggested the 40-year mortgage as a solution to affordability issues for first-time buyers. While it has some support, industry players also note questions about practicality remain.