RMBS

Bad: When a newspaper ridicules your CEO for wrongful foreclosures.

Information provider CoreLogic said that Anthony "Buddy" Piszel has resigned as the firm's CFO effective immediately.

In several different venues Friday morning, Treasury Secretary Tim Geithner defended the administration's decision not to offer a full-fledged plan for the future of the housing market, insisting that Congress had only asked for an array of options.Within minutes of the administration's release of a 31-page white paper on reform options, which did not endorse a single approach and left vague some key details on how to proceed, critics accused President Obama of shirking his responsibility on the issue. But Geithner said that the administration wants more Congressional input before it proceeds.

The loan modification offer was hard to turn down, in more ways than one. It was July 2008. IndyMac Bank was failing and Fannie Mae and Freddie Mac were in a death spiral.

HSBC Holdings is currently reviewing a first round of bids taken on its $60 billion residential servicing portfolio, but has yet to make a decision on the sale, according to industry advisors familiar with the matter.

The Obama administration proposal on GSE reform reiterated the importance of the securitization market in the future of housing finance.

The Obama administration is slated to release its GSE reform proposal on Friday as previously reported by StructuredFinanceNews.com.

BNP Paribas brought on Timothy Bitsberger, a former Treasury Department official and Freddie Mac treasurer, to create and lead an official institutions coverage team for the Americas.

The new chairman of the House GSE subcommittee is looking for "immediate steps" Congress can take to reign in Fannie Mae and Freddie Mae and reduce their role in the mortgage market.

The Obama administration appears to be trying to take a card from Republicans' playbook as it announces options this week for a new housing finance system.