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The firm says the product can save companies in excess of 30% of their existing cost structure.

The Ohio-based lender has been a party in at least four such complaints and has settled two, including a larger claim against it from Caliber Home Loans.

The former investment type added to net earnings, but a tough market hurt some sectors of it during a quarter in which the company experienced mixed success with M&A attempts.

The Federal Housing Finance Agency says it wants to more closely tether Federal Home Loan bank advances to housing and community development. Doing so will first involve clearly defining the banks' mission through regulation.

Earnings benefited from low delinquencies and slow prepayment speeds, but high rates will limit growth opportunities.

Some of the lender's servicing systems continue to be shutdown as of Wednesday.

The company posted net income of under $301 million in the third quarter, including a $93 million positive mortgage servicing mark.

As the leading player in a specialized niche within the consolidating mortgage market, Finance of America is being watched closely.

A significant fallback in rates brought some borrowers back to the table but cooled interest in adjustable-rate loans, which had surged throughout October, the Mortgage Bankers Association said.

The lender and servicer is still planning for another $120 million in annualized expense reductions in the next few quarters.