Government

FHFA reported Tuesday that U.S. house prices, based on home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac, rose 0.9 percent in the third quarter. While that does show a continuation of the growth the U.S. market has enjoyed for the past three years, the rate of growth is down from 4.5 percent compared to the third quarter of 2013.

FDIC-insured institutions earned $38.7 billion in the third quarter of 2014, a 7.3 percent increase from a year ago, according to FDIC's latest Quarterly Banking Profile. Mortgage loans, still hampered by regulations designed to prevent a recession relapse, dropped by nearly $7 billion.

The Commerce Department reported Wednesday that sales of new single-family houses were at a seasonally adjusted annual rate of 458,000 in October, up 0.7 percent from September's revised rate of 455,000 and 1.8 percent over last year's pace of 450,000 sales.

According to a second estimate from the Commerce Department, GDP grew at an annualized rate of 3.9 percent in July, August, and September, down slightly from the second quarter's growth rate of 4.6 percent and up from the first quarter's 2.1 percent downturn.

In an release, FHFA announced that the maximum limit for mortgages acquired by Fannie Mae and Freddie Mac will stay at $417,000 for single-unit properties in most of the country, with a maximum of $625,500 for certain high-cost areas. Forty-six counties will see an increase based on their own local conditions.

The strategic plan outlines three goals for FHFA for the forthcoming fiscal years: ensure safe and sound regulated entities; ensure liquidity, stability, and access in housing finance; and manage the enterprises' ongoing conservatorship.

The U.S. Securities and Exchange Commission (SEC) agreed to partially waive the additional sanctions that could have been imposed on Bank of America following a record settlement in August over the sale of residential mortgage-backed securities, according to sources familiar with the case in a report from Bloomberg News.

The Consumer Financial Protection Bureau (CFPB) proposed on Thursday an additional set of measures designed to expand foreclosure protections for mortgage borrowers.

According to a report from Bloomberg, lawyers for both sides told a judge on Tuesday they’re doubtful about the chances of reaching an agreement on a suit alleging the bank fraudulently submitted loans for insurance through the Federal Housing Administration (FHA).

In an announcement Wednesday, FDIC introduced the first in what the agency says will be a series of technical assistance videos developed in the wake of this year's mortgage regulations handed down from the Consumer Financial Protection Bureau (CFPB).