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In another positive sign for the housing sector, the Pending Home Sales Index rose 2.4 percent in July to 101.7, its highest level since April 2010, the National Association of Realtors reported Wednesday. Economists had expected a 1.0 percent increase to 100.3. The July increase more than reversed an unexpected 1.4 percent drop to 99.3 in June. The only negatives in recent reports were a slight drop in housing starts in July and drops in the median price for existing and new homes in July.

Just when you thought they were on a rebound, mortgage rates once again fell precipitously this week, with the 30-year fixed-rate home loan slamming into 3.39 percent. Zillow reported the latest numbers on Tuesday. The real estate website found the 30-year fixed-rate mortgage slipping from 3.5 percent to 3.4 percent earlier this week. Interest rates for the 15-year home loan averaged 2.76 percent, while those for 5-year and 1-year adjustable-rate mortgages hovered at 2.38 percent.

As bank failures dwindle, FDIC-backed institutions continue to see their own coffers swell, with an agency report finding that banks with government guarantees earned $34.5 billion over the second quarter. And banks seemed to sweat a little less over the last quarter. The FDIC reported that banks with its seal of approval saw their year-over-year increases for the 12th straight quarter. Loan balances meanwhile ticked up by $102 billion, increasing for the fourth time in the last five quarters.

New York-based GFI Mortgage Bankers Inc. reached a $3.5 million settlement with the Justice Department regarding discriminatory lending practices Tuesday. The lawsuit, filed in a Manhattan federal court, alleged GFI priced ├â┬ó├óÔÇÜ┬¼├àÔÇ£residential mortgage loans for qualified African-American and Hispanic borrowers higher than for similarly qualified non-Hispanic white borrowers between 2005 and 2009. GFI admitted there were ├â┬ó├óÔÇÜ┬¼├àÔÇ£significant disparities├â┬ó├óÔÇÜ┬¼├é┬Ø between loans offered to minority borrowers.

Michael Strahan, one of the most memorable players to ever wear a New York Giants uniform, has listed his California estate for $1.849 million. The former defensive end and current football analyst for Fox is set to take a loss on the Hermosa Beach property, which he purchased for $2.2 million in 2005.

Fairway Independent Mortgage Corporation is expanding its footprint, recently announcing the opening of a new office in the Southeast. The lender's latest location will be based in Pooler, Georgia, and Fairway's nationwide presence now encompasses 129 branches around the country.

Reality television star Camille Grammer, best known for her high-profile marriage and divorce with actor Kelsey Grammer, has put her Malibu, California, estate on the market for $17.9 million. The large home, which Realestalker.com dubs a family compound, sits on 4.77 acres, and the gated property includes equestrian facilities, a tennis court, swimming pool, lily pond, and two spas.

A developer and restaurateur from Virginia pled guilty Friday for his role in a massive bank fraud scheme that contributed to the collapse of Bank of the Commonwealth, SIGTARP and federal officials announced Monday in a statement. Thomas E. Arney, 56, of Chesapeake, Virginia pled guilty to conspiracy to commit bank fraud, unlawful monetary transactions, and making false statements, according to the statement. Arney faces sentencing on December 3, 2012 and could receive a maximum penalty of 20 years ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô five years each for the conspiracy and false statement counts.

The Federal Reserve said Monday that it may delay rules under Dodd-Frank related to stress tests for big banks until next year. According to a release, the change would hold off on implementation until September 2013, giving some elbow room to banks, state member banks, and savings and loans institutions with anywhere between $10 billion and $50 billion in total assets. The move follows a December 2011 rulemaking proposal to green-light rules and procedures for stress tests under Dodd-Frank.

Five new faces joined the board of directors at the Office of Mortgage Settlement Oversight on Monday. The five include former banking commissioners, politicians, attorneys, and academics, with Mississippi banking commissioner John Allison and former North Carolina Gov. James Holshouser notably joining the board. Although board members, the five will serve only in functional roles for the mortgage settlement office. None will bring any decision-making power to bear on the national settlement.