Toomey had originally requested a response by June 21 but none was made. A new demand came on Monday.

To be fair, Kaplan didn’t suddenly come to this conclusion. He’s been pushing the Fed to consider tapering since at least early spring.

Combined MBS issuance by the three agencies fell $38.26 billion during the second quarter. Sales of California loans to the agencies dropped $36.94 billion from the first quarter.

On a sequential basis, home lending revenue came in at $1.35 billion, a 7.4% decline from the first quarter.

Ginnie has been working on the change in requirements for well over a year...

The bank increased its mortgage originations by 26% quarter-over-quarter.

At the other end of the spectrum, deliveries of refi loans with credit scores of 740 or higher fell 20.1% from the first to the second quarter...

Some of the LOCs contained borrowing authority of up to $250,000.

One thing is clear: The verdict was a blow to Fannie Mae and Freddie Mac common and junior preferred shareholders.

The real estate industry was especially concerned and mounted an organized response...