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Sunset Beach, Missouri, was the site of this year's 51st bank collapse as the Missouri Division of Finance shut down the Community Bank of the Ozarks. According to a release from the FDIC, Community Bank of the Ozarks had approximately $42.8 million in total assets and about $41.9 million in deposits as of September 30. The Bank of Sullivan (Sullivan, Missouri) will be picking up all of the deposits and will purchase essentially all of the assets.

Consumer Financial Protection Bureau (CFPB) released a report revealing only one in five people actually obtain a copy of their credit report each year.

Home sales in California displayed a typical seasonal decline in November and fell month-over-month, but the median price posted both monthly and yearly gains, San Diego-based DataQuick reported. About 37,481 new and existing homes were sold in November, representing a 4.5 percent decline from October, but a 14.7 percent increase from November 2011, according to DataQuick.

Hurricane Sandy's impact on non-agency residential mortgage-backed securities (RMBS) may not be nearly as bad as originally expected.

A study from the American Enterprise Institute (AEI) asserts the Federal Housing Administration (FHA) is inadvertently setting the country up for another housing collapse. In a report titled How the FHA Hurts Working-Class Families and Communities, AEI resident fellow and former Fannie Mae EVP Edward Pinto says an analysis of FHA's books for fiscal years 2009 and 2010 show the agency's "lending practices are inconsistent with its mission and represent a disservice to American working-class families and communities."

Federal Housing Finance Agency (FHFA) deputy director Stephen Cross will retire from his post in March 2013, according to an announcement from acting director Edward DeMarco. Cross has served as FHFA's deputy director of the Division of Federal Home Loan Bank Regulation since the agency's creation in 2008.

A newly proposed policy from the Consumer Financial Protection Bureau (CFPB) would allow companies to test new consumer disclosures on a case-by-case basis. Under the proposed policy, the CFPB would allow limited-time exemptions from current federal disclosure laws for approved companies. Those companies would use that time to research and test informative, cost-effective disclosures and share the results of their trial with the bureau, which would use the information to improve its own rules and model forms.

Capsilon, a San Francisco-headquartered provider of cloud-based document sharing, imaging, and collaboration solutions for lenders, announced David Hanafee has joined its executive team as VP of worldwide sales.

The desire for homeownership is still strong in young renters, according to a survey released by Trulia.

A study commissioned by Ellie Mae shows lenders using Encompass360 can see vast improvements in compliance and productivity.