Bank failures continue to mount, even as the U.S. economy is beginning to show signs of improvement.

Nine of the 10 major financial institutions deemed to be under-capitalized by regulators earlier this year following the infamous stress tests have now sufficiently raised their capital levels to meet or exceed officials' buffer requirements, the Federal Reserve said Monday.

The U.S. Treasury has blocked a deal struck between Fannie Mae and third-party investors that would have allowed the GSE to sell off half of its $5.2 billion in low-income housing tax credits.

The Appraisal Foundation, a congressionally authorized non-profit organization working to institute industry-wide appraisal standards and appraiser qualifications, has established the Appraisal Practices Board (APB).

Mortgage industry leaders have continually lamented rising unemployment as the principal issue driving delinquencies going forward. The U.S. Department of Labor reported Friday that the national unemployment rate has risen to 10.2 percent.

Ocwen Financial Corporation, the West Palm Beach, Florida-based mortgage servicer known for its work in bringing highly distressed loans back to performing status, has fallen into the red.

President Barack Obama inked his approval of the bill extending and expanding the homebuyer tax credit incentive Friday morning.

The Federal Housing Administration (FHA) was scheduled to disclose a highly anticipated independent annual audit of its finances on Wednesday, but at the last minute, the agency announced that the release of the findings would be postponed. The examination, compiled by Integrated Financial Engineering: http://www.

The government-run mortgage financing giant, Fannie Mae lost $18.9 billion during the third quarter.

Some mortgage brokers and mortgage banking correspondents looking to do business with CitiMortgage, Inc. may have the door slammed in their face.