Risk management

The credit quality of U.S. commercial mortgages being packaged into bonds slipped further in the third quarter as borrowers piled on more debt, according to Moody's Investors Service.

Mortgage executives who have long decried new regulations as excessive are increasingly becoming resigned to the fact that changes are here to stay.

The three-year-old U.S. consumer protection agency said it discovered that the largest mortgage servicers have been mishandling loan modifications and harming borrowers since new rules came into effect in January.

The CoreLogic Mortgage Fraud Report estimates that in the second quarter approximately $3.3 billion in mortgage debt contained elements of fraud or serious misrepresentations.