The Fannie-BofA squabble was tied to repurchase claims surrounding the bank’s legacy book of business, largely involving loans produced by Countrywide Financial and Merrill Lynch.

According to research from the Consumer Financial Protection Bureau, all financial service companies spend $17 billion each year trying to reach consumers.

“I don’t see how New York can’t ultimately approve Wells’ sale of servicing to Ocwen,” said one analyst. “I think it’s more a matter of when.”

A formal recorded vote has been requested and at press time was pending before the committee.

Surprise: Two Harbors is preparing a new jumbo MBS deal. It looks like the bond will be issued in early August...

Although only one of the 21 banks (BB&T) posted a net loss on mortgage banking during the second quarter, seven others reported lower profits than they had in the first quarter.

In mid-July senior White House staff, Treasury officials and the staffers from the Council of Economic Advisers met with representatives from a number of industry trade groups to discuss housing finance reform.

"There are plenty of small deals out there," said one mortgage analyst, "but no big ones."

One stock analyst told IMFnews: “He hasn’t charged them [Nationstar] because he [Lawksy] doesn’t have anything.”

The CFPB also is proposing that financial institutions provide more information about underwriting and pricing.