The Securities and Exchange Commission);/*1216927063730*/ announced on Friday that Freddie Mac);/*1216927086233*/ has become an SEC registrant under the Securities Exchange Act of 1934 and is now subject to the Act’s periodic and current reporting requirements.

The Mortgage Banker’s Association);/*1216933526248*/ announced earlier this week that Jonathan L. Kemper, current President and CEO, will be stepping down on December 31, 2008. According to the same MBA statement, during Kempner’s seven years with the MBA, the association doubled its revenues and operating reserve fund.

Treasury Secretary Paulson spoke about reinforcing market stability and confidence at the New York Public Library today. During his speech he remarked on the failures of Bear Stearns);/*1216924957453*/ and IndyMac Bank);/*1216925006393*/ as well as devoted time to reaffirm his views on his new plan to provide capital for government-sponsored enterprises (GSEs) Fannie Mae);/*1216925037390*/ and Freddie Mac);/*1216925021878*/.

As influential members of both the Republican and Democratic parties continue to issue statements responding to Treasury Secretary Henry Paulson’s Sunday announcement);/*1216312741880*/ to implement a new plan to provide financial support to Fannie Mae and Freddie Mac, presidential candidates Sen.

According to a story the Associated Press);/*1216322563419*/ that ran yesterday IndyMac Bancorp Inc., now IndyMac Federal Bank);/*1216322618720*/, is being investigated by the Federal Bureau of Investigation (FBI) for possible fraud in connection with home loans made to risky borrowers.

According to the Mortgage Bankers Association’s (MBA));/*1216308594057*/latest Weekly Mortgage Applications survey for the week ending July 11, 2008, the Market Composite Index, which measures the total volume of mortgage loan applications, rose 1.

President Bush held a press conference yesterday and two of the main topics of discussion were declining housing values across the nation and Secretary Paulson’s recently proposed rescue plan for Fannie Mae and Freddie Mac);/*1216219962681*/which, among other things, would supply a temporary increase in the line of credit the two government-sponsored enterprises can have with the Treasury.

Despite the assurances of Federal Deposit Insurance Corporation (FDIC) chairperson Sheila C. Bair);/*1216244951121*/ on Monday that for most insured depositors, IndyMac’s conversion has been largely a nonevent and the more than 200,000 customers of IndyMac with deposits of $18 billion are fully protected, the Los Angeles Times:javascript:void(0);/*1216245063035*/ reported that problems at multiple branches of IndyMac’s total 33 branches today resulted in customers waiting in line for multiple hours to clear up issues with significant sums of money missing from their accounts.

The Securities and Exchange Commission (SEC) announced today an emergency order that will halt naked short selling of the securities of Fannie Mae);/*1216238454051*/, Freddie Mac);/*1216238482054*/, and 17 other companies);/*1216238420774*/.

In response to the fact that WaMu shares dropped 35 percent yesterday, to their lowest level in more than 17 years, the Seattle-based  lender released a statement assuring the public that the company currently exceeds all regulatory well capitalized minimums and still has strength in its liquidity.