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  • DOJ planning to sue Moody's over crisis-era mortgage bond ratings

    In the fallout from the financial crisis, many argued that the credit ratings agencies’ competition for business led to ratings shopping among bond issuers and relaxed ratings standards for the ratings agencies themselves. Last year, Standard & Poor's reached a $1.375 billion settlement over just such claims. And now the Department of Justice is taking aim at Moody's Investors Service. Click the headline to read more.

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Underwater homeowners accept lower wages

People who are underwater on their home mortgages probably will accept "significantly" lower wages than other homeowners, according to a study published this month by the Federal Reserve Bank of Atlanta, Bloomberg reported.

The recent U.S. housing bust left many homeowners with mortgage debt larger than the equity value of their homes, says Fed Bank of Atlanta economist Chris Cunningham and Robert R. Reed of the University of Alabama.


Source: Bloomberg

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