The furor continues to grow over recapitalizing and releasing Fannie Mae and Freddie Mac, and this week’s third quarter earnings report, along with recent comments by senior government officials, likely only intensified the debate. Several industry groups addressed letters to President Obama urging the White House to take a stand now instead of waiting for housing reform legislation in Congress and release the GSEs from conservatorship while allowing them to re-build capital. The most recent letter was from two mortgage trade groups that represent smaller nonbanks. This week, the Community Home Lenders Association and Community Mortgage Lenders of America addressed a letter to Obama arguing that the Federal Housing Finance Agency has the power under a...