Outlook Improves for Nontraditional Loans
While lending officers at financial institutions reported little change in how well they expect prime mortgages and home-equity lines to perform this year, expectations improved significantly for nontraditional loan quality. On the commercial side, mortgage terms eased for the first time in several years.

Regions Residential Originations Better, Delinquency Worse
Home-loan fundings improved from the prior quarter at Regions Financial Corp., though there was deterioration in residential delinquency. But late payments on commercial mortgages have shown improved performance. Regions has been scaling back its staffing and assets.

WMC Probe Focuses on Fraud
Federal authorities have launched an investigation into defunct subprime lender WMC Mortgage Corp. to determine whether senior managers condoned mortgage fraud, sources said.

Serious Mortgage Delinquency Up 4th Consecutive Month
For four months in a row now, serious delinquency on first mortgages has increased. Among the nation's biggest cities, a Texas town has the lowest level of late loans.

Serious Mortgage Delinquency Up 4th Consecutive Month
For four months in a row now, serious delinquency on first mortgages has increased. Among the nation's biggest cities, a Texas town has the lowest level of late loans.

Jumbo RMBS Pose Greatest Risk
A ratings agency outlook for the private-label market in residential mortgage-backed securities indicates that securitized jumbo mortgages pose the greatest risk of strategic default. In fact, nonprime loans pose less of a risk than jumbo mortgages. The report indicated that the level of re-defaults on modified loans is tapering off.

Subprime MBS Trader Kills Self
A trader of subprime mortgage-backed securities who was on trial for allegedly deceiving small investors about the risks associated with the securities has been found dead of an apparent suicide.

HEL Delinquency Down, HELOC Lates Up
Fewer borrowers on closed-end home-equity loans missed their payments during the latest quarter. But delinquency on home-equity lines of credit took a turn for the worse.

Washington Responsible for Financial Crisis
Two lawsuits filed last week by the Securities and Exchange Commission against former senior executives at Fannie Mae and Freddie Mac put the spotlight on the government's role in the financial crisis, according to a newspaper editorial that puts the duo at the heart of the financial crisis.