Earnings at Cendant Corp.'s real estate division surged 51%, to $197 million, in the third quarter.

Mortgage revenue at the Parsippany, N.J., travel services, real estate, and alliance marketing company jumped 55% from the year-earlier period, to $79.9 million.

The real estate franchise business, including Century 21, ERA, and Coldwell Banker, had revenues of $126.7 million, up 29%. Cendant's relocation business had revenues of $130.8 million, up 17%.

Cendant recently announced a management restructuring in its alliance marketing division, which was formerly part of CUC International.

The company's disclosure of accounting irregularities in former CUC businesses led to a sharp drop in Cendant's stock price this year.

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