Secondary

Former Jefferies & Co. managing director Jesse Litvak was convicted in the only criminal case against an individual in connection with a U.S. program that used bailout funds to spur investment in mortgage-backed securities.

The housing sector is increasingly a drag on consumption and job creation. The fault lies not with the market but with ill-considered regulations and bank capital rules.

JPMorgan Chase & Co. agreed to give mortgage-bond trustees evaluating a proposed $4.5 billion settlement over bad loans an extra three months to consider signing onto the deal.

A recent deal drew more than 65 buyers, addressing what initially had been a key concern about the new securities. Policymakers had originally questioned whether they would draw enough investors.

Private-label mortgage securities issuers should act now to make their industry more standardized and transparent, the senior adviser to the U.S. Treasury on housing policy said.

A jump in lender-paid policies would come at an inopportune time for the industry, which faces new regulatory requirements for such insurance, underscoring the need to educate borrowers why it is necessary.

HomeStreet plans to sell two pools of delinquent residential loans that it will continue to service.

Mortgage brokers have the strongest ties with referral sources like real estate agents. But they lack the control over closing, funding and underwriting that's critical in a home purchase transaction.

Improving housing markets continued to push down the overall delinquency rate of commercial and multifamily mortgages in the fourth quarter of 2013, according to the Mortgage Bankers Association.

President Obama's fiscal-year 2015 budget projects the Federal Housing Administration won't require a taxpayer subsidy this year as the agency's efforts to shore up its finances have offset losses from defaulted loans.