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Southwest Securities FSB, Dallas is cutting back the dollar amount of warehouse credit it lends to nonbanks, according to mortgage officials familiar with the situation.

Fortress Investment Group LLC and American International Group have agreed that some of the former's managed funds and affiliates will acquire 80% of AIG's American General Finance, a mortgage and consumer credit provider.

The benchmark 10-year Treasury as of late Tuesday afternoon has inched down again to a new low for the year between 2.75% and 2.80%, pressuring mortgage rates downward.

New industry research confirms what common sense has been indicating all along: Demand for short sales is on the rise.

How much damage can seller kickbacks do? A great deal, The Consumer Federation of America reports.The nonprofit says consumers across America "are buying overpriced and often unneeded insurance," including mortgage related insurance, habitually driven by seller kickbacks.

According to Karl L. Rubinstein, a retired business litigator whose experience includes dealing with troubled financial institutions, mortgage insurance insolvencies, in addition to drafting and litigating over new legislation there are certain "loopholes that may reduce the new law's effectiveness."

JPMorgan Chase & Co. acquired $3.5 billion of multifamily and commercial real estate loans from Citigroup Inc., saying that the "highly desirable" portfolio mirrors the Chase commercial term-lending group's focus on "excellent borrowers in stable markets."

The estimated financial impact of short sale fraud is $310 million annually with the risk of 'unnecessary losses' occurring in one in every 53 short sale transactions, according to a new study by CoreLogic.

The Federal Reserve will be reinvesting principal payments from agency debt and agency mortgage-backed securities into longer-term Treasury securities.

U.S. subprime prices may be hitting a plateau, according to Fitch Solutions' index.