Results from Fannie Mae's November National Housing Survey revealed that consumer sentiment is not rising alongside recent positive economic news. Fannie's study showed that most borrowers are adopting a wait and see approach to 2012, despite accompanying findings that indicated consumers anticipate a future rise in home pricing for the first time in six months. Generally, Fannie's survey demonstrated that consumer sentiment is stabilizing.

In Michigan, low-to-moderate income families will get better housing opportunities thanks to a new tax credit initiative. The Michigan State Housing Development Authority recently announced that the $9.6 million in federal Low Income Housing Tax Credits will go toward renovating affordable rental housing for the state's lower income and at-risk residents. The tax credits are also giving Michigan's economy a boost by creating an estimated 1,600 new jobs in construction and similar trades.

Zillow, Inc., is welcoming a new member to its broker advisory board, with the addition of Bev Thorne. Currently the chief marketing officer for Century 21 Real Estate LLC, Thorne will take on the leadership position to provide counsel on Zillow's industry services.

Some professionals in the industry are forecasting a dollar amount nearly four times the government's estimates tallying the cost of penalties related to servicing operations at the country's big banks. Currently, the most popular figure in terms of a total settlement stands at $25 billion, but at least one portfolio manager feels that the actual number should be closer to $100 billion. Litigation among several state attorneys general and multiple U.S. financial institutions has turned the harsh spotlight on issues within the mortgage servicing divisions of the banks.

The joint task force created by the Office of the Inspector General for the Troubled Asset Relief Program (SIGTARP), the Consumer Financial Protection Bureau, and the U.S. Department of the Treasury is receiving praise from industry groups. The Homeownership Preservation Foundation recently spoke out on the fraud prevention initiative, announcing that the new task force would utilize the organization's HOPE Hotline to facilitate communication with borrowers.

Supreme Lending has ushered in a new senior vice president with the appointment of James E. Iley, Jr. Iley will now serve as the SVP and national production manager for the Dallas-based company. Iley's hiring is part of Supreme's strategic plan for expanding the company's reach, and he will apply more than 22 years of experience in the mortgage industry to his new role with the entity.

President Barack Obama is speaking out again against Republican senators who continue to oppose Richard Cordray as the administration's nominee for director of the Consumer Financial Protection Bureau. Cordray, a Democrat and former attorney general of Ohio, will be subject to a confirmation vote by the U.S. Senate on Thursday, and it seems likely that the move will be unsuccessful due to a filibuster-proof bloc by GOP lawmakers. The senators behind the refusal to confirm Cordray are targeting the restriction of the CFPB's reach.

Targeting job growth to boost the nation's economy and housing markets, a co-authored bill calls for the easing of mandates contained within the Dodd-Frank Act and the Sarbanes Oxley Act. U.S. Senators Mark R. Warner (D-Virginia), Mike Crapo (R-Idaho), Pat Toomey (R-Pennsylvania), and CHarles Schumer (D-New York) recently announced the Reopening American Capital Markets to Emerging Growth Companies Act of 2011; the senators hope to help small businesses seeking to go public by altering the pace required to meet expensive obligations in terms of investor protections.

Standard & Poor's recent Lookout Report showed a solid reduction in the amount of recession-related concerns those in the U.S. financial markets are feeling and acting upon. The biweekly survey, created by S&P Capital IQ's Global Market Intelligence division, demonstrated that the drop in anxiety over the state of the nation's overall economic conditions was somewhat mitigated by rising fears over the European debt crisis. S&P's outlook also showed that U.S. home pricing has returned to levels seen in 2002.

Opening up new industry jobs in Tempe, Arizona, BBVA Compass recently announced that it would launch a mortgage operations center in the Southwestern city. The branch will be BBVA Compass' fourth mortgage-focused complex, and the company noted its growth in the sector as the chief catalyst behind the development of a new location in Tempe.