Ben Bernanke was up at the National Bureau of Economic Research (NBER) to celebrate the Federal Reserve's 100th birthday. Despite being chairman of the Fed, instead of receiving a birthday gift, he gave a birthday gift--and Wall Street partied. Bernanke was generous in comments to the beleaguered housing sector when he listed his reasons for optimism about the economy. But Bernanke saved his biggest boost for stock investors when he made clear the Federal Reserve has no intention of abruptly raising interest rates or cutting back on its $85 billion a month bond purchase program.

Foreclosures and mortgage delinquencies may be declining, but that doesn't mean the industry should let its guard down. In the Obama Administration's latest housing scorecard, which provides an overview of the housing market based on private and public sector data, officials continued to warn of a ""fragile"" recovery despite improvements. ""[W]e remain cautious because although mortgage delinquencies are trending down, they still remain quite high compared to historic norms,"" said Kurt Usowski, assistant secretary for economic affairs at HUD.

The Office of the Comptroller of the Currency (OCC) scheduled two workshops specifically for directors of national community banks and federal savings associations supervised by the regulator.

With criticism for the Obama administration and the shortcomings of the Dodd Frank Act, the House of Representatives Financial Services Committee announced Thursday a new plan to fix housing finance and end the bailout for good. The Protecting American Taxpayers and Homeowners Act (PATH) aims to end the federal bailout of Fannie Mae and Freddie Mac within five years; increase competition in the housing finance market; and offer consumers more choices when shopping for mortgages.

Solidifi, one of the country's largest independent residential real estate appraisal providers, announced the launch of its EXTRAordinary Appraiser Program.

Wells Fargo reported record net income of $5.5 billion for the second quarter, up from $5.2 billion in Q1 and $4.6 billion in Q2 2012. For the first six months of the year, net income was a record $10.7 billion compared to $8.9 billion last year. Credit performance was also improved, according to chief risk officer Mike Loughlin. Credit losses were $1.2 billion in Q2 2013, a decline of $1 billion year-over-year. Meanwhile, JPMorgan reported net income of $6.5 billion for Q2, beating last year's $5.0 billion but falling just short of the first quarter.

Nancy Braun, owner and broker of Showcase Realty, ranked No. 12 on the Top 1,000 list for real estate professionals and teams in the United States. The list is compiled by the Wall Street Journal and Real Trends.

The Mortgage Bankers Association of Florida presented Wade Hamby, business development manager of StoneHill Group, with the Brown L. Whatley Award for 2012-2013.

To help mortgage servicers stay compliant while delivering exceptional customer service, Varolii Corporation offers the Varolii Interact Platform. The platform allows servicers to be more proactive in their communication efforts by initiating contact with distressed borrowers, soliciting feedback, and assessing borrower satisfaction.

A report released Thursday by the Federal Reserve Bank of Cleveland answers the question, ""Are underwater homeowners less likely to move for employment?"" The researchers find that mobility did decline during the housing crisis, particularly in states with high levels of underwater homeowners. However, high underwater rates occurring alongside declining mobility rates does not necessarily signify a cause and effect relationship. In fact, the opposite appears to be true. ""Our results show that individuals with low equity actually move more than those with high equity,"" the researchers said.