Fitch Again Blasts S&P Grades on Credit Suisse Mortgage Bonds Bloomberg The AAA ratings assigned by Standard & Poor's in a mortgage-bond deal by Credit Suisse Group AG (CSGN) are too high, Fitch Ratings said for the second time this year. The amount of protection for a top-rated slice of the $330 million transaction "is not ... and more »

Mortgage rates have fallen to their lowest recorded levels, but the spread between banks' cost of funding mortgages and the rates being offered to borrowers has soared in recent months.The upshot, the thinking goes, is that mortgage rates would be even lower if banks were passing along their lower funding costs to borrowers.

(Reuters) - The Federal Reserve ought not replace on a one-for-one basis its expiring 'Operation Twist' program of $45 billion in purchases of longer-dated Treasuries a month because that may risk inflation, a senior U.S. central banker said on Monday. St. Louis Federal Reserve Bank President James Bullard said fresh outright bond purchases to replace Twist, in which the Fed sells shorter-dated securities for longer date bonds, would have more impact on inflation and inflation expectations. Operation Twist expires at the end of the year. "If the goal is to keep policy on its present course, the replacement rate should be less than one-for-one," Bullard said in remarks prepared for delivery to the Little Rock Chamber of Commerce. (Reporting By Alister Bull; Editing by Neil Stempleman)

The Treasury Department has ruled out the sale of assets to buy more time before hitting the federal debt limit, a senior official said.

Our mission at HUD is to "create strong, sustainable, inclusive communities and quality affordable homes for all" so as employees, we're familiar with the buzzwords associated with the concept of "sustainability." Livability. Walkability. Green design. Carbon footprint. Affordability. Retrofitting. Transit-oriented development. The list goes on. But one of our own employees, Jay Austin, is taking [...]

-CoreLogic National Mortgage Fraud Index Reaches Highest Levels since 2007- CoreLogic ® (NYSE: CLGX), a leading provider of information, analytics and business services, today released its 2012 Mortgage Fraud Trends Report which estimates the mortgage lending industry will originate $13 billion in loans containing fraudulent information, a $1-billion increase over the 2011 and 2010 figures. CoreLogic projects an increase in losses due to a greater number of mortgage fraud incidents, driven by higher 2012 mortgage origination volumes, as well as sharp increases in employment and identity fraud. The report highlights findings from the CoreLogic National Mortgage Fraud Index, which provides a relative basis of comparison over time for residential loan origination mortgage fraud risk in the United States and represents the collective level of mortgage fraud that is likely to occur. It includes risk indices across multiple fraud types including employment, identity, income, occupancy, property and undisclosed debt. CoreLogic evaluates approximately 80 percent of all mortgage applications in the U.S. for potential fraud and tracks suspected and confirmed fraudulent activity on existing loans. The CoreLogic National Mortgage Fraud Index rose 6.23 percent in the first quarter of 2012 to 85 from the first quarter of 2011 when the index stood at 80. Overall the CoreLogic National Fraud Index increased by 27.5 percent from 67 at the first quarter of 2009, which was the lowest level since CoreLogic first established the index. "Mortgage fraud is a multi-billion dollar criminal activity that continues to be a critical concern for the mortgage banking industry. Increased risk and financial loss associated with mortgage fraud has a direct negative impact on a lender's bottom line," said Susan Allen, vice president, Product Management for CoreLogic. "Heightened awareness and analysis of emerging mortgage fraud threats are vital as criminals continuously look...

News Release - Fannie Mae Announces Eviction Moratorium for the Holidays, Fannie Mae.

Remarks by President Dudley at The Spread between Primary and Secondary Mortgage Rates: Recent Trends and Prospects Workshop, New York City

Greece Makes Buyback Offer as Merkel Floats Writeoffs Bloomberg Greece offered 10 billion euros ($13 billion) to buy back bonds issued earlier this year as the bailed-out nation attempts to cut a debt load that may threaten future international aid. Greek bonds rallied after the so-called modified Dutch auction was announced ... and more »