Testimony from four government agencies regarding a proposed government-sponsored enterprise regulation overhaul has sent the mortgage market into a tailspin, with the Fannie Mae 10-year benchmark widening to its highest level ever recorded.

While much of the hoopla in the market was in reference to the testimony of Gary Gensler, undersecretary of the Department of Treasury for domestic markets, the testimonies of three other prominent players in the market generally went overlooked.

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