The Senate opted to leave town this week for its five-week August recess without calling a vote on President Obama’s nominee to head the Federal Housing Finance Agency. Two weeks ago, Rep. Mel Watt’s nomination cleared the Senate Banking, Housing and Urban Affairs Committee along a straight party-line vote, with some key Republicans vowing to block the North Carolina Democrat’s confirmation. Until the mid-week announcement by Senate Majority Leader Harry Reid, D-NV, that Watt’s nomination would not be taken up for debate before Congress returns from its recess on September 9, Capitol Hill watchers were wary of another potential nomination showdown between Dems and the GOP.

State and federal regulators appear to be close to getting more servicers to agree to a settlement similar to the $25 billion deal agreed to by five big banks.

After roiling markets with unclear signals about when it will begin to taper asset purchases, the Federal Reserve returned to boilerplate guidance.

Congress passed legislation allowing HUD to reform the Home-Equity Conversion Mortgage program.

Fannie Mae inked a risk-sharing deal with National MI.

Bank of America continues to drop servicing and dropped to third in the ranking of servicers as of the second quarter of 2013.

Richmond, CA, is set to become the first city to implement the highly controversial eminent domain plan offered by Mortgage Resolution Partners.

The Senate Committee on Banking, Housing and Urban Affairs approved S.1376, the FHA Solvency Act of 2013, on a vote of 20-to-1.

Credit Suisse issued a non-agency jumbo MBS with loans seasoned an average of three months that had interest rates well below current rates.

The Federal Housing Finance Agency withdrew a proposed rule it was forced to issue regarding Property Assessed Clean Energy programs after prevailing in court.