During the debate, Committee chairman Jeb Hensarling accused Democrats of protecting the status quo by defending the current Fannie and Freddie dominated regime.
NAR's oposition falls primarily in two areas: The PATH Act does not include an explicit federal guaranty and the bill dramatically restructures the FHA.
In general, mortgage-related earnings were strong at the nation's banks in the second quarter, but clearly earnings "leakage" is underway. And yes, gain-on-sale is starting to slip.