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Fed starts program of purchases of mortgage securities (AFP via Yahoo! News)
The Federal Reserve said Monday it began buying troubled mortgage securities through investment managers, kicking off a program expected to spend up to 500 billion dollars to ease a credit crisis.

Mortgage lender pledges to stay (BBC News)
One of Jersey's biggest mortgage lenders says it will not be pulling out of the island, despite not being allowed to expand.

Fed Didn't Arrange Mortgage Repos For First Time Since March (Bloomberg)
Jan. 6 (Bloomberg) -- The Federal Reserve didn't add temporary 28-day reserves in exchange for mortgage-backed securities for the first time since it began a weekly lending program in March.

Fed to Begin Buying Mortgage-Backed Securities (New York Times)
The Federal Reserve Bank of New York said Monday that it had begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.

Q: Why have mortgage rates been down lately? (Louisville Courier-Journal)
A: Rates have been lower since late November, when the Fed announced it would buy mortgage-backed securities. The Fed started making purchases yesterday.

Non-Agency Mortgage Bonds Rallied as Rates Declined (Update2) (Bloomberg)
Jan. 5 (Bloomberg) -- U.S. mortgage bonds without government support rose last month, as efforts by the Federal Reserve and Treasury Department to lower home-loan rates boosted investor demand.

DOJ Expands Corp Fraud Task Force To Examine Mortgage Fraud (Nasdaq)
WASHINGTON -(Dow Jones)- The U.S. Department of Justice said Tuesday that it is retooling its Corporate Fraud Task Force to focus on mortgage fraud related to the ongoing housing crisis.

Report: Ga. mortgage rates among lowest (BizJournals)
Georgia had the second-lowest 30-year fixed mortgage rates last week, according to real estate Web site Zillow.com

Conyers introduces mortgage legislation (Detroit Free Press)
One of the first bills to drop in the 111th Congress comes from Detroit Democrat John Conyers, who with some other members of the House Judiciary Committee wants to loosen bankruptcy rules so that judges can modify mortgage terms to help people keep their homes.

Lawmakers set new mortgage bankruptcy bill (Washington Post)
WASHINGTON (Reuters) - Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year.