The Federal Housing Finance Agency (FHFA) announced a new program Monday that will seek to educate homeowners on potential refinancing options under the Home Affordable Refinance Program (HARP). The program aims to inform underwater homeowners of expanded HARP eligibility requirements and encourage homeowners to discuss refinancing options with their lenders.

HUD proposed a new definition of qualified mortgage (QM) in a statement released Monday. To meet the new QM requirements, a mortgage will have to require periodic payments, have terms not exceeding 30 years, limit upfront points and fees to no more than three percent with adjustments to facilitate smaller loans, and be insured or guaranteed by FHA or HUD.

A federally funded mortgage assistance program in California has announced a monthly online Servicer Scorecard that will evaluate mortgage servicers on such points as the percentage of applications approved, how long it takes to respond to applications, and the total funding issued per program in that particular month.

San Francisco and Detroit led the housing market rebound according to the September Home Data Index released Tuesday by Clear Capital. San Francisco led metro price performance in September, with 4.4 percent quarterly growth and 28.3 percent yearly growth.

Stephen G. Fields, 49, of Chesapeke, Virginia, was sentenced Monday to 17 years in federal prison for conspiracy to commit bank fraud, false entries in bank records, misapplication of bank funds, and false statements to a financial institution. Fields was executive vice president and senior commercial loan officer at Bank of the Commonwealth.

The housing market has lost some of its momentum recently according to a new study by the Redfin Research Center. Pent-up demand and low mortgage rates contributed to a robust real estate market since the beginning of the year, but higher prices and higher rates have diminished demand in recent months. The company predicts mortgage rates will play a central role in determining housing prices moving forward.

Helmed by founder and CEO Jodi Gaines, Claims Recovery Financial Services, LLC (CRFS), is primed for a growth and expansion project in New York State that will also cement the claims processor as the largest private employer in Orleans County (NY). CRFS will expand its operations into the former JPMorgan Chase complex at 231 East Avenue in Albion.

Two men were sentenced to a combined 17 years in prison on Friday for their roles in a nationwide foreclosure rescue scam according to Christy Romero, the Special Inspector General of the Troubled Asset Relief Program (SIGTARP). The two admitted in their pleas that their business was a fraud, and that the scheme allowed them to take possession of hundreds of residential properties and rent them to unsuspecting tenants. The homes ended up in foreclosure, resulting in eviction of the tenants.

Desiree Patno, founder and CEO of the National Association of Women in Real Estate Businesses (NAWRB), has been added to the Executive Advisory Board of Directors of the Women in Public Policy (WIPP) organization. As CEO of NAWRB, Patno has served as an advocate for women-owned businesses in the the housing economy, where she has 22 years of experience in REO disposition.

Nationwide Title Clearing was honored at the Florida Business Journal's 2013 Florida's Fast 100 Awards Dinner on September 26, 2013, at the Gaylord Palms Resort in Orlando.