MORTGAGE

The former labor secretary described S&P?s downgrade maneuver as an ?ironic? intrusion into American politics.

These institutions process trades and are key to the daily operation of the U.S. financial markets.

Gold vaulted above $1,700 an ounce for the first time on Monday after pledges by the G7 and the European Central Bank to quell the turbulence in the financial markets did nothing to put investors at ease.

Eighth season on Wisteria Lane will be the last

Global investors flock to precious metal as safe haven.

BlackRock, the world's largest money manager, is looking for opportunities to buy U.S. mortgage agency debt in the wake of Standard & Poor's downgrade of the U.S. sovereign rating, said Rick Rieder, the firm's chief investment officer of fixed income, fundamental portfolios.

U.S. insurance giant American International Group is planning to sue Bank of America to recover more than $10 billion in losses on $28 billion of investment in mortgage-backed securities, the New York Times said citing three people with knowledge of the complaint.

The downgrade (while perhaps not a total surprise) arrived somewhat unexpectedly ? and during a period when markets are already in an extremely volatile and fragile state.

S&P?s stunning and controversial downgrade Friday in part reflected the firm?s assumptions about the U.S. political system?s ability to solve its problems. Others hold a more optimistic view, as Winston Churchill did. Churchill said, ?In the end, you can count on America to do the right thing - after she?s exhausted all other possibilities.?

The fact that U.S. Treasury bonds managed to cling to their coveted triple-A rating this week failed to impress several prominent bond fund managers, who say they are lightening up on Treasuries and stocking their portfolios with corporate bonds instead.

Federal criminal investigations into failed mortgage lenders IndyMac Bancorp and New Century Financial Corp have stalled, the Wall Street Journal reported on Saturday.

America's credit rating was downgraded for the first time in history. This will likely have dire consequences on mortgage and credit rates, not to mention the unemployment rate, which now stands at 9.1 percent.

In a stunning development, Standard & Poor?s Friday downgraded the U.S. Government's credit rating from AAA to AA+, arguing Washington has made inadequate progress cutting the budget deficit. The U.S. Treasury disagrees with S&P?s analysis and conclusion, but interest rates on U.S. home mortgages and car loans are likely to rise.

The U.S. lost its AAA credit rating from Standard and Poor's for the first time in history, dealing a symbolic blow to the world's economic superpower. The impact of this downgrade is a matter of speculation.

The United States wouldn't enjoy "risk-free" top AAA credit rating any longer. Standard & Poor's decision, being questioned by many including the White House, to downgrade AAA rating to AA+ was based on an analysis which blew up U.S. deficits by $2 trillion.

Around 20 years ago, Andrew Dice Clay was a major star on Hollywood's comedy radar with chart-topping CDs, large audiences on TV and sold-out venues as big as Madison Square Garden, but it all came crashing down.

Citigroup Inc said in a regulatory filing on Friday that the Justice Department is examining its mortgage business.

Wells Fargo & Co may have to buy back an additional $1.8 billion in toxic mortgages from outside investors on top of claims it already received, the fourth-largest U.S. bank by assets said in a securities filing on Friday.

Bailed-out insurer American International Group plans to hold on to its mortgage insurance business even as the rest of that industry struggles with rising claims, AIG's chief executive said on Friday.

There?s no getting around it: In much of the country, this is a terrible time to unload your home.

While refinancing is on the rise, many consumers are failing to see benefits from it, the MFAA has claimed.