The Senate Banking Committee, as expected, approved the nomination of Richard Cordray to head the CFPB, but Republicans are not happy about the structure of the young agency.

FHFA chief Edward DeMarco on Tuesday criticized Congress for doing nothing in regard to GSE reform.

HUD may be forced to cut some of its vendors due to the federal sequester. Meanwhile, Two Harbors raises $673 million.

Historically, many banks have deducted expenses associated with REO, but all that may soon change thanks to a new IRS ruling.

Nine Attorneys General, unhappy with the pace of loan modifications, are calling for the immediate dismissal of acting FHFA director Edward DeMarco.

Fannie Mae could be in line to book $60 billion in assets, money that could be counted as net worth and change its immediate financial outlook.

On Tuesday the Senate Banking Committee will hold a vote on the nomination of Richard Cordray to head the CFPB. Does this mean the GOP is warming up to him or is something else afoot?

Improving loan quality is sparking a major shake-out in the due diligence sector. Can jumbo production and MBS save the day? Meanwhile, the supply of MBS expanded slightly in the fourth quarter.

Legislation introduced this week by a bipartisan group of senators would seek to “jumpstart” the stalled effort in Congress to implement legislative reform of Fannie Mae and Freddie Mac, but industry observers say the measure may also act to hinder cash grabs by government officials when the Treasury Department begins its “sweep” of the GSEs’ profits. The Jumpstart GSE Reform Act – sponsored by Sen. Bob Corker, R-TN, with co-sponsors Sens. Mark Warner, D-VA, David Vitter, R-LA, and Elizabeth Warren, D-MA – would prohibit any increase in Fannie’s and Freddie’s guaranty fee from offsetting other government spending. “The reality is that if Congress were to spend g-fee revenue from the GSEs on other programs, reforming these mortgage behemoths would become nearly impossible,” said Corker.

The Treasury Department is on board with a risk-sharing mandate from the Federal Housing Finance Agency that sets a $30 billion goal this year for Fannie Mae and Freddie Mac. That’s the word from FHFA officials who discussed the matter with Inside The GSEs, but who did not want to be identified by name. “Treasury has taken a great interest in these things,” said one FHFA official. “They’re not ignoring what we’re doing.” The Treasury Department did not return telephone calls about the matter.