Financial institutions are continuing to invest in technology despite the unpredictable mortgage marketplace this year, and Home Federal Bank is adhering to the trend with the recent announcement that it will go live on the Common Origination module from Fiserv, Inc.

The Obama administration's latest appointment on Capitol Hill was announced recently, with the news that Thomas Hoenig would be nominated as vice chairman of the FDIC. The former chief of the Federal Reserve Bank of Kansas City would serve the FDIC until December 2015 if he is approved by the Senate.

On Capitol Hill, the Senate is making moves to help the U.S. housing market capitalize on foreign investors. Sen. Charles E. Schumer (D-New York) and Sen. Mike Lee (R-Utah) proposed legislation recently that would facilitate investments from abroad by easing the acquisition of visas for those participating. The bipartisan plan would give foreigners buying homes on American soil a residential visa for three-years with an investment of $500,000 or more, provided they live in the property for a minimum of 180 days per year.

FBR Capital Markets & Co. has released its third-quarter report on bank earnings, and the results, which showed loan growth among some asset divisions, also indicated that the underlying fundamentals may not be in sync with the full impact such mitigating factors had on valuations during the quarter. Showing sensitivity to debt issues abroad and the current yield curve, findings for 3Q were mixed but pointed in a potentially positive direction for the final quarter of the year. Lending was up and net interest down.

The Consumer Financial Protection Bureau has a new chief officer with the addition of Hubert H. Skip Humphrey III. Joining the CFPB as the head of its Office of Older Americans, Humphrey will now act as the bureau├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós lead advocate for the demographic.

Continuing its legal wrangling with American International Group, Inc., Bank of America Corp. has filed a motion to dismiss Quinn Emanuel Urquhart & Sullivan as the company's counsel for AIG's $10 billion lawsuit against the financial institution. In its move to disqualify the firm, BAC cited conflict of interest due to partner Marc Becker's previous involvement with the bank's chosen law firm, Munger, Tolles & Olson.

In California, home sales were down during September, but data from the month still represents upward movement year-over-year for the third consecutive month. The recent findings from the California Association of Realtors puts the state at what the organization calls a stable level. Closings for escrow sales of existing, single-family detached homes in California transitioned downward to a seasonally adjusted total of 487,940 for September, representing a loss of 2.1 percent from August.

RE/MAX has released the results of its most recent housing survey, and the company's evaluation of 53 metropolitan areas demonstrates a 7.6 percent rise in home sales year-over-year in September. The findings represent the third consecutive month in which an increase in sales was shown year-over-year for comparable months, and generally, sales have been on the uptick for four of nine months during 2011 based on RE/MAX's report. September's data extends trends seen from data recorded in July and August, during which sales rose by18 percent and 13.1 percent respectively.

Another mortgage fraud engineer has been brought to justice in New York, with Marleen Shillingford entering a guilty plea following her participation in a multimillion-dollar scheme. Appearing before U.S. Magistrate Judge Donna F. Martinez, the defendant waived her right to indictment on charges related to a scam that involved more than 40 properties. The fraudulent acts were primarily executed against properties held by banks receiving funding from the Troubled Asset Relief Program (TARP).

Financial institution Credit Suisse is set to shut down its commercial mortgage-backed securities division following rumblings of approaching layoffs. The overall impact of the global economy and dropping property values in the commercial sector this year are also believed to have played a role. According to numerous news outlets, Credit Suisse's executive of securitized products, Albert Sohn, held a meeting on Wednesday to announce the likely firing of 50 people working as part of the company's commercial real-estate team.