It's been five long years since Uncle Sam seized Fannie Mae and Freddie Mac. Is time to give them back to shareholders?

At an investor conference in New York this week, officials from Wells Fargo predicted that residential originations at the bank will fall 30 percent this quarter on a sequential basis.

Mortgage loan officers have been spared from lay-offs. But how long will it last? Brokers get dismissed again?

Publicly traded REITs like Redwood Trust would fill the void if Fannie Mae and Freddie Mac lower loan limits next year. But they will be competing against portfolio lenders.

It appears the House of Representatives is giving up on GSE reform this year. However, the Senate could move forward, even though passage is considered a long shot, at best.

Nonbanks are making progress in picking up market share, but it's uncertain how much more turf commercial banks might cede.

Nonbanks are stepping up to the plate on agency MBS. Meanwhile, a handful of large "term" loans are being put together, allowing investors to finance MSRs.

Some trade groups, including the California Mortgage Bankers Association and National Association of Realtors are not happy with the idea of lower loan limits.

Michigan Mutual is the latest mortgage lender to announce cut-backs in its processing staff.

Look for an update late Thursday on the sale of Cole Taylor Mortgage. Meanwhile, does anyone care that credit unions are holding 30-year jumbo mortgages in portfolio?