The delay over raising the U.S. statutory debt limit could cause the country's 'Aaa' bond rating to be downgraded, which would lead to a default on U.S. Treasury debt obligations, said Moody's Investors Service.

Dexia SA has filed a lawsuit yesterday against Deutsche Bank. The suit cited fraud in connection with more than $1 billion in RMBS it purchased.

Mortgage rates dropped in the week ending July 14 in response to the sharp decline in yields following the much-weaker-than-expected jobs report, said Freddie Mac Chief Economist Frank Nothaft.

JPMorgan Chase & Co. Chief Executive Jamie Dimon talked up the housing market's prospects, downplayed his bank's exposure to Europe and urged parties in Washington to resolve the standoff over the debt ceiling Thursday.

As housing prices continue to slide, the loan-to-value ratios of always-performing loans have in many cases crept higher than those on defaulted loans, according to a new report from Moody's Investors Service.

Foreclosure related filings fell by almost 30% in the first-half to 1.17 million actions, but it appears much of the drop is attributable to processing and procedural delays, according to new figures compiled by RealtyTrac.

It's 5,159 miles from Athens to McLean, Va., but for Capital One, the Greek capital — and its debt crisis — is much much closer to home.

As potential buyers kick the tires of a few big credit card portfolios on the block, the issuers' private-label card operations for the first time in years could be an advantage, instead of a drag, thanks to changes in the economy and in industry regulations.

Federal Reserve Chairman Ben Bernanke suggested that the Fed might continue its asset purchase program. This is only if economic developments indicate that an adjustment in the stance of monetary policy would be appropriate.

A federal judge yesterday dismissed key charges in National Credit Union Administration (NCUA)’s suit against officers and directors of WesCorp Federal Credit Union, but allowed several other charges to remain, making it increasingly likely there will be a trial in the failure of the one-time $34 billion corporate credit union.

When it comes to the securitization market for residential loans, hope springs eternal that some day the private sector will take a large bite out of the government-controlled MBS market.

Steve Curry, a six-year veteran of Impac Mortgage Holdings, has left the lender to accept an executive vice president job with ClearVision Funding (CVF), a fast growing wholesaler based in Santa Ana, Calif.