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Passing a bill aimed at reforming the agency, House lawmakers showed no sign of stopping in their attempts to reform the Consumer Financial Protection Bureau just one day after it officially opened its doors. On Thursday the lower chamber pushed through H.R. 1315, titled the Consumer Financial Protection Safety and Soundness Improvements Act, which ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô contingent on Senate action and a bicameral reconciliation process ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô would swap the director for a commission and strengthen the Financial Stability Oversight Council.

On Thursday Bankrate and Freddie Mac released reports with varying conclusions about mortgage rates for this week, with the former posting a slight dip in 30-year fixed-rate mortgages and the GSE reporting few changes from last week. Publishing its Primary Mortgage Market Survey, Freddie Mac yielded a 4.52 percent with an average 0.7 percent for 30-year fixed-rate mortgages, a nominal increase from last week when the same rates lingered at 4.51 percent.

With recent reports signaling a throwback for public officials involved in debt-ceiling negotiations, housing analysts and market watchers worry about the possible fallout for government-backed mortgages in a default scenario come August. If the federal government defaults on its debt, analysts say, still-brittle mortgage markets will splinter as mortgage rates follow spikes in Treasury yields. Concerns continue to grow after a series of breakdowns between Congress and the White House.

Despite today├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós report in the Wall Street Journal of continued layoffs in multiple professional sectors, not everyone is fearing for their job. Especially Michael D. Greenwood of PNC Mortgage who has just been promoted to senior executive of the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Miamisburg, Ohio branch of operations.

Following months of anticipation among critics and admirers alike, the Consumer Financial Protection Bureau formally opened its doors Thursday, taking over rule-writing and enforcement abilities for 18 consumer financial laws, preparing a host of new regulators, and assuming an array of powers provided by the Dodd-Frank Act. The launch notwithstanding, a tied-up confirmation process, scale-up difficulties, and stiff political opposition from the past year hold the CFPB back, making some wonder how the bureau will function.

On Wednesday the Mortgage Bankers Association released its weekly survey, showing jumps in mortgage applications by 15.5 percent and by 23.1 percent in refinances, respectively, from the previous week. According to the survey, mortgage loan application volume went up over 15 percent on a seasonally adjusted basis, with a steady increase by 43 percent. According to the survey, mortgage loan application volume went up over 15 percent on a seasonally adjusted basis, with a steady increase by 43.9 percent on an unadjusted basis from the week earlier.

On Tuesday the Government Accountability Office added to fears over rising mortgage rates by releasing a new report that casts concern on the role risk retention will play in the markets. A provision in the Dodd-Frank Act obligates the GAO to perform an economic impact analysis, making the report a timely one since it arrives on the heels of outcry from trade and industry associations. It added that mortgage-related provisions in Dodd-Frank would prescribe "tradeoffs" between additional consumer financial protection and a needed expansion in credit supply.

Texas company Guardian Mortgage Lenders has been honored in its home state for the second consecutive year. Four of Guardian├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós originators were recently named among top mortgage professionals in D Magazine├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós annual list. Loan officers Lynn Hood, Rick Hodges, Marcus McCue, and David Stout ranked in the publication├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós standings, which are nominated and judged by a panel comprised of D Magazine Top DFW Realtors and other residential real estate professionals in the region.

Despite a forward leap by prices, a surge in contract cancellations led to a sudden easing in existing-home sales over June, according to a National Association of Realtors report. Analysts at the trade association placed blame for the lax numbers at the feet of wary lenders and continuing economic uncertainties. According to the report, upward-bound sales across regions like the South and Midwest contrasted with dips in the Northwest and Northeast, alongside a steadily slacking condo sector.

Following his nomination Monday, lawmakers and trade associations continue to greet Consumer Financial Protection Bureau director-nominee Richard Cordray stiffly, with spokespeople accepting his new role lukewarmly.