S&P settles with SEC for $58 million over bond ratings fraud

The ratings agency Standard & Poor’s will have to pay over $77 million and is to be barred for one year from grading certain bond deals for loosening its rating criteria in order to win business.. The SEC says that S&P will have to pay $58 million to settle three matters with the agency.

MBA: New home purchase apps fall 8% MBA released on Thursday its builder applications survey for October, revealing an 8 percent monthly pickup in new home purchase applications after a flat September. The increase doesn’t factor in.