Dec 17, 2012 1:52PM

JP Morgan Sued Over $3.6B of Bear Stearns MBS

The National Credit Union Administration (NCUA) has brought suit against J.P. Morgan Securities and Bear, Stern and Company over the failure of four corporate credit unions. The suit, filed in Federal District Court in Kansas alleges violations of federal and state securities laws in the sale by Bear, Stearns of $3.6 billion in mortgage-backed securities (MBS) to the failed institutions. NCUA charges that Bear, Stearns made numerous misrepresentations and omissions of material facts in the offering...

Dec 17, 2012 9:22AM

Servicing Retained or Released?; The CFPB and Credit Reports; CFPB's Guidance on Policies and Procedures Manual

A successful mortgage CEO once told me, "Your ego isn't always your amigo. It's amazing what you can accomplish when you don't care who receives the credit." Speaking of credit, although a slightly different kind, ever wonder how the credit reporting agencies "manage" yours? The CFPB is here to explain it. [READ: Everything You Wanted to Know About Credit Bureaus, Reports, Files and Scores ] And occasionally someone asks about a Policies and Procedure Manual, especially in preparation for a CFPB...

Micro News

4:05 PM:

Sharpest Losses Of The Day. Reprices Most Likely

3:05 PM:

MBS Tick Down To Lows Of The Day Again

2:01 PM:

MBS Hit Lows, But Negative Reprice Risk Remains Uncertain

11:48 AM:

Treasuries Say "Sell," MBS A Bit Stubborn, But May Be Listening

9:59 AM:

Bond Markets Under Slight Pressure From Rising Stocks

9:21 AM:

ECON: Tic Data Shows Foreign Investment In Treasuries Increased in October

8:36 AM:

ECON: Empire State Manufacturing Weaker Than Expected

10:04 AM:

Bond Markets Holding Moderate Gains After Data

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Today's Comments

Marvin Von Renchler

"Think about what he said: "that we knew the borrower could not pay." The operative word is KNEW. Did they know without a doubt that any given..."


"Hi, if Countrywide was such a world class company, then why did they hurt borrowers with horrible mortgages? Aren't /weren't they smart enough..."

Jana Holmstrup

"This disparate impact stuff is gonna be the death of me! It's not a charge based on whether they’re married or not – the problem is when they’re not..."

Today's Q&A

"Is there a risk with private investors when purchasing a home"

"Can the appraisal fee be refunded?"

"Am I eligible for loan modification"