The Obama administration announced plans Thursday to give unemployed homeowners struggling to make mortgage payments more time to avoid foreclosure.

Portugal and Greece won't lose access to European Central Bank (ECB) liquidity, said the ECB in separate announcements.

Moody’s Investors Service downgraded Portugal by four notches to 'Ba2' from 'Baa1' with a negative outlook yesterday.

ABN AMRO appointed Patrick Keleher managing director and head of loan syndication in North America, a new role at the Dutch firm.

Two separate MBS-related regulatory settlements involving hundreds of millions of dollars restitution to investors were seen late last month and the Securities and Exchange Commission (SEC) indicated similar cases would remain a priority for it in the future.

Moody’s Investors Services has downgraded the servicer quality (SQ) ratings of JPMorgan Chase and Chase Home Finance. The collective ratings in question are as primary servicer of prime residential mortgage loans from ' SQ1 ' to ' SQ2 ’, and as primary servicer of subprime residential mortgage loans from SQ1 to SQ2. Both will remain on review for possible further downgrade.

As federal agencies work on creating a new servicing fee structure, the Mortgage Bankers Association (MBA) is recommending they consider a reserve account that would be used to pay the higher costs of servicing delinquent loans.

FG Solutions International has formed a new ABS trading desk in North America to expand service offerings for investors and traders.

In a report released today, Moody’s Investors Service analysts discuss their methodology for the rating of consumer loan ABS transactions and provide their outlook on the securitization markets around the globe.

Not surprisingly mortgage rates were higher in Freddie Mac's latest survey due to last week's sharp sell-off as risk taking was favored. The 30-year fixed mortgage rates averaged 4.60% with an average 0.7 point in the week ending July 7, up nine basis points from last week.

In a few weeks the Consumer Financial Protection Bureau (CFPB) officially will open its doors, but it will be “months” before the agency promulgates any new servicing regulations, according to a top official there.

Federal housing regulators on Wednesday said they are lowering the conforming loan limit for Jumbo loans – the maximum loan they will buy from lenders – by almost 17%.