Now that the industry has its long-awaited ""qualified mortgage"" (QM) definition, Fitch Ratings believes jumbo prime securities are poised to see a jump start. While many analysts anticipate a kick start in lending and securitization now that the rules are clear, Fitch asserts most of the underwriting guidelines suggested have already been put into practice since the financial crisis. However, the ratings agency sees the QM definition as a boon for the jumbo prime market.

The housing market finished 2012 strong with year-over-year gains in home sales and prices, according to RE/MAX's December National Housing Report. The report, which covers 52 metro markets, shows a broad recovery all across the country, with both sales and prices rising almost every month in 2012. The biggest issue leftover from 2012 is inventory, which in December saw its 30th straight monthly decline.

Starting in January 2014, mortgage lenders will work under new rules governing the handling of appraisals and other home value estimates. The Consumer Financial Protection Bureau (CFPB) announced Friday the adoption of a new rule intended to improve consumer access to appraisal reports. The new rule implements requirements under the Dodd-Frank Act that state that lenders must give consumers a copy of each appraisal free of charge. A lender generally may still charge a reasonable fee for the cost of conducting the appraisal.

Navy Federal Credit Union, headquartered in Vienna, Virginia, earned a spot in Fortune Magazine's 2013 list of the ""100 Best Companies to Work For,"" the company announced Wednesday. This year marks Navy Federal's third appearance on the list, having first been recognized in 2008 and again in 2012. The company ranked No. 56 on the 2013 list, which is based on an extensive survey of employees for companies across the country.

Freddie Mac's Primary Mortgage Market Survey registered little motion among rates for the week ending January 17. The average 30-year fixed rate slipped to 3.38 percent (0.7 point), down from 3.40 percent last week. The 15-year fixed rate averaged 2.66 percent (0.7 point), the same as in the previous week's survey. Bankrate.com, on the other hand, reported more extreme shifts as markets grow increasingly nervous about the country's continued financial uncertainties.

Bank of America and Citigroup both released their fourth-quarter earnings Thursday, revealing the scars their legacy mortgage issues have left. BofA reported net income of $732 million, a significant decline from $2 billion in Q4 2011. The bank did better on a year-long scale, coming in at $4.2 billion (well above its $1.4 billion income in 2011). While Citi pulled ahead compared to last year, its earnings still fell well short of forecasts.

The housing market in California's Southland region closed out 2012 with the highest number of December home sales in three years, real estate information company DataQuick reports. According to DataQuick, a total of 20,274 new and resale homes and condos were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino, and Orange counties in December. The month's total was 5.1 percent up from November and 5.3 percent up from December 2011.

Less than a week after turning away from a lawsuit against the government over the terms of its bailout, American International Group (AIG) Inc. filed a suit against the Federal Reserve Bank of New York over its right to sue other institutions. AIG's suit seeks no money for damages. Rather, it revolves around an asset purchase agreement (APA) made in 2008 between itself and Maiden Lane II, a vehicle specially made by the New York Fed to purchase RMBS and take off some of AIG's financial burden.

S&P Dow Jones Indices, the largest provider of financial market indices in the world, announced the launch of the Dow Jones U.S. Select Equal Weight Real Estate Investment Trust (REIT) Index. The new index is designed to measure the performance of publicly traded REITs and REIT-like securities, serving as a proxy for direct real estate investment.

Washington's Westside Community Bank has the dubious honor of being the first to fall in 2013. The FDIC announced that the Washington State Department of Financial Institutions shuttered Westside on Friday.