MCLEAN, Va. -- For the week ending Oct. 16, 30-year fixed-rate mortgages averaged 6.46% with an average 0.6 point, up from last week when it averaged 5.94%.

TAMPA BAY, Fla. -- NAFCU will be offering a seminar on how the mortgage crisis is affecting credit unions at its next hot topic meeting.

WASHINGTON -- Senate Banking Chairman Christopher Dodd (D-Conn.) has announced plans to put together a legislative package that will include a temporary moratorium on foreclosures and legislation to stop predatory lending.

WASHINGTON -- House Financial Services Committee Chairman Barney Frank (D-Mass.) has sent a letter to several of the nation's largest mortgage servicers urging them to "engage in an intense effort" to modify troubled mortgages.

How and why did Congress move so quickly on the bailout bill? Congress was able to pass this very complex, high-dollar legislation in a matter of days--nevermind the fact there had been signs of a subprime crisis that's at the root of all this--for months if not years. Relatively speaking,...

MADISON, Wis. -- A federal appeals court last week reversed a 2007 class certification involving a couple who claimed that the disclosures for their option ARM loan were confusing. A federal trial court agreed with the couple and ruled that the loan could be rescinded and granted class action status...

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WASHINGTON -- The good news is that 99% of the loans backed by Fannie Mae and Freddie Mac are performing well. The bad news is that 1% of the loans are 90 days or more past due, according to a report issued by the Federal Housing Finance Agency.