Underwriting

Home prices will increase by more than 5% over the next year, after increasing by 6.3% on a year-over-year basis in September, according to CoreLogic.

Bethpage Federal Credit Union, Holston Methodist Federal Credit Union and United Heritage Credit Union have all selected the FirstClose Report for instant title search, flood certification, valuation and property information tied to mortgage and home equity loan products.

September's mortgage application defect risk declined 1.4% from August and 14.8% from one year ago, because of the continued improvement in loan manufacturing processes, said First American Financial Corp.

Mortgage brokers were among the companies that received the regulator's warning letters, but brokers are not required to report HMDA data — leading many to suspect mini-correspondents, which straddle the line between broker and lender, were the recipients.

The CFPB sent letters Thursday to 44 mortgage lenders and brokers warning them of potential reporting violations related to their mortgage lending activities — infractions the bureau is increasingly pushing lenders to take seriously.

Barclays is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high.

Mortgage rates slipped from last week's spike and the 30-year fixed-rate mortgage eased back to its summertime range below 3.5%, according to Freddie Mac.

Arch Capital Group's mortgage insurance business had underwriting income of $37.4 million in the third quarter, an increase of 119% compared with the $17.1 million one year prior.

The Freddie Mac Multi-Indicator Market Index for August was up 5.4% over the same month last year, driven by its purchase component, which had an 18.6% increase.

Home prices, when adjusted for income and interest rates, decreased in August by 2.6% on a year-over-year basis, making properties more affordable, according to First American Financial Corp.