A look at stories across HousingWire's weekend desk, with more coverage to come on bigger issues:

UBS Group ($13.94 0%) CEO Oswald J. Grübel announced his resignation from the Swiss investment bank over the weekend.

Grübel took full responsibility for the recent rogue trading incident that cost the firm $2.3 billion. The board of directors appointed Sergio Ermotti as the interim Group CEO effective immediately.

"The board regrets Oswald Grübel's decision," said UBS Chairman Kaspar Villiger. "Oswald Grübel feels that it is his duty to assume responsibility for the recent unauthorized trading incident. It is testimony to his uncompromising principles and integrity."

As part of the announcement, the UBS board of directors said it would fully cooperate with the independent investigation and will accelerate the alignment of the investment bank with its wealth management businesses.

"In the future, the investment bank will be less complex, carry less risk and use less capital to produce reliable returns and contribute more optimally to UBS’s overall objectives," Villiger said.

Fannie Mae was given a report in 2005 detailing breakdowns in the foreclosure process but did not correct the problems, according to the Federal Housing Finance Agency Inspector General.

The FHFA IG released its report on Friday, finding the regulator lacked the staff to adequately monitor the government-sponsored enterprises. But it also found Fannie itself failed to head off signs of mishandled foreclosures that have sparked investigations, millions in costs and possibly billions in penalties since.

"In 2005, Fannie Mae hired an outside law firm to investigate a variety of allegations referred by one of its investors regarding purported foreclosure processing abuses and other matters," according to the FHFA IG.

The report continued, citing that in May 2006 the law firm issued a report finding certain law firms representing Fannie in foreclosure filed false documents in Florida. The report said the filings were unlawful, unauthorized by Fannie and advised the GSE to crack down on the attorneys.

"The report observed that Fannie Mae did not take steps to ensure the quality of its foreclosure attorneys’ conduct, the legal positions taken in the attorneys’ pleadings, or the manner in which the attorneys processed foreclosures on the Enterprise’s behalf," according to the FHFA IG.

Recent employment numbers eased concerns with Standard & Poor's analysts late Friday.

Jobless claims fell 2% for the week ended Sept. 17. S&P said the improvement combined with data from those receiving unemployment benefits through state-run programs was encouraging despite their recent volatility.

"Against a backdrop of healthier economic indicators such as retail sales, industrial production, and durable goods orders," S&P said. "U.S. unemployment insurance data may offer some additional hope that the U.S. could avoid recession."

Members of a White House initiative and the Department of Housing and Urban Development will hold a conference Tuesday to discuss access to fair housing opportunities for Asian Americans and Pacific Islanders.

An administration official said some affected remain silent on the potential discrimination they face when applying for a mortgage.

"The Act prohibits discrimination in housing, and is particularly important for AAPIs, whose population grew faster than any other group in this country over the last 10 years. One in five AAPIs face housing discrimination, but only one in a hundred fair housing complaints come from AAPIs," according to HUD.

Regulators closed two banks over the weekend, bringing the 2011 total to 73.

The Virginia State Corporation Commission closed the Bank of Commonwealth. North Carolina-based Southern Bank and Trust Company agreed to assume all $901.8 million in deposits and purchase $924.3 million of the $985.1 million in assets. The Federal Deposit Insurance Corp. will retain the rest.

The FDIC estimates the closing to cost the Deposit Insurance Fund $268.3 million.

The California Department of Financial Institutions closed Citizens Bank of Northern California. The Tri Counties Bank in Chico, Calif. agreed to assume all $253.1 million in deposits and purchase essentially all $288.8 million in assets.

The closing is estimated to cost the DIF $37.2 million.

Write to Jon Prior.

Follow him on Twitter @JonAPrior.