A look at HousingWire’s weekend desk, with more coverage to come on bigger issues: The mortgage finance industry was apt to share opinions about the U.S. Treasury‘s white paper that came out Feb. 11. The paper focused on the restructuring of the government-sponsored enterprises, Fannie Mae and Freddie Mac, and their eventual wind down out of the mortgage market. The Treasury proposed three different options to reform the GSEs. Amherst Securities Group said plans laid out in the white paper are not enough to make a substantial difference. According to a recent report, the firm believes the paper’s release is a “non-event for the mortgage market.” The Treasury failing to layout explicit guidelines and recommendations to wind down Fannie and Freddie’s predominance in the mortgage marketplace, Amherst said, proves how difficult a task it’s going to be. “We do not believe this proposal will significantly affect the refinance ability of the bulk of the conventional MBS market,” Amherst said, adding that the net effect would be to make some of the jumbo product less refinanceable. “It should be a mild positive for the MBS basis, both because GSE supply will be marginally lower and because some uncertainty has been removed.” According to Amherst, increasing the guarantee fee marginally decreases refinance ability. Additionally the firm said reducing the conforming loan limit and phasing in a 10% down payment on loans would decrease GSE issuance by about 10%. “This is clearly not enough to ‘wind down Freddie and Fannie,'” Amherst said. Wells Fargo Home Mortgage in St. Louis closed down the bank’s Home Affordable Refinance Program unit, resulting in more than 200 employee layoffs. According to an article by iStockAnalyst, most of the employees were short-term workers. The layoffs did not affect Wells Fargo Advisors. The National Foundation for Credit Counseling appointed Denis Russell as chief financial officer over the weekend. He comes to the organization from an 11-year tenure at American Podiatric Medical Association, where he served at director of finance and chief financial officer. In his new position, Russell is responsible for the NFCC’s financial operations including in the accounting, auditing, strategic planning, information technology and human resources divisions. “The NFCC is fortunate to have someone of Denis’ caliber bring his expertise to the organization,” said Susan Keating, president and CEO of the NFCC.  “Denis’ experience, talent and commitment made him the obvious choice for the critical position of CFO.” Regulators closed four banks over the weekend, for a total of 18 bank failures so far in 2011. The Federal Deposit Insurance Corp. estimates the total cost to its deposit insurance fund from last week’s failed banks at about $144.9 million. The Florida Office of Financial Regulation closed Sunshine State Community Bank of Port Orange, Fla., and the FDIC was appointed receiver. Premier American Bank of Miami agreed to assume all the deposits of the failed institution. As of Dec. 31, the branches of Sunshine State Community Bank had about $125.5 million in total assets and $116.7 million in total deposits. The Michigan Office of Financial and Insurance Regulation closed Peoples State Bank of Hamtramck, Mich., and the FDIC was appointed receiver. First Michigan Bank of Troy, Mich., agreed to assume 85% of the deposits of the failed institution. As of Dec. 31, the branches of Peoples State Bank had about $390.5 million in total assets and $389.9 million in total deposits. The Wisconsin Department of Financial Institutions closed Badger State Bank of Cassville, Wis., and the FDIC was appointed receiver. Royal Bank of Elroy, Wis., agreed to assume all the deposits of the failed institution. As of Dec. 31, the branches of Badger State Bank had about $83.8 million in total assets and $78.5 million in total deposits. The Office of the Comptroller of the Currency closed Canyon National Bank of Palm Springs, Calif., and the FDIC was appointed receiver. Pacific Premier Bank of Costa Mesa, Calif., agreed to assume all the deposits of the failed institution. As of Dec. 31, the branches of Canyon National Bank had about $210.9 million in total assets and $205.3 million in total deposits. The largest nonbank lender in Canada will begin using Long Beach, Calif.-based Applied Business Software‘s product, The Mortgage Office, to manage its commercial loan portfolio. Romspen Investment Corp. currently manages $500 million in commercial collateral. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.