Secondary Market

First-time claims for unemployment insurance fell to 339,000├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øthe lowest level since February 2008├â┬ó├óÔÇÜ┬¼├óÔé¼┬Øfor the week ended October 6, the Labor Department reported Thursday. The drop was far steeper than market expectations of 370,000 initial claims. In addition, the previous week's report of 367,000 initial claims was revised up to 369,000. The claims filings appeared to lend some credence to the report last week when the nation's unemployment rate had fallen to 7.8 percent, the lowest level since January 2009.

The legal proceedings between MBIA Insurance Corporation and Countrywide Home Loans turned into a blame game as the companies battled over liability.

The nation's economy generally expanded modestly from mid-August until the end of September, the Federal Reserve said in its periodic Beige Book report issued Wednesday. The report, the last Beige Book to be issued prior to Election Day, painted a mixed regional picture, with a leveling off of economic activity in New York and a slowing in the pace of growth in Kansas City. Meanwhile, the remaining 10 federal reserve districts reported that "growth continued at a modest pace."

The Federal Housing Finance Agency released a revised GSE Strategic Plan for the years 2013-2017 Tuesday.

Hayden Christensen, most famous for his role in the modern interpretation of the Star Wars films, is selling his Los Angeles abode. The actor's posh pad, located in the Studio City area, sits on three-quarters of an acre and is listed for $2.65 million.

The directorship of the Federal Agricultural Mortgage Corporation (Farmer Mac) has appointed a new leader for the company. Naming Timothy L. Buzby as as president and CEO, Farmer Mac's board announced that the industry veteran's term was effective immediately.

The National Association of Mortgage Field Services re-elected VP of White Van Real Estate Services, Kris Katoa, for a third term as a board member. Katoa has been a member of NAMFS for more than 13 years and previously served two terms on the organization's board and on the committee for its 2011 National Conference.

Consumer optimism about the housing market and homeownership improved substantially in September, Fannie Mae reported. According to the GSE's September 2012 National Housing Survey, upward trends in home prices and downward trends in mortgage rates throughout the summer reinforced positive attitudes about where the market is headed. Confidence about the economy also grew in September, marking a turnaround from a year of pessimism. Regarding the overall economy, 41 percent of consumers believe the country is on the right track.

John L. MacFarland is joining Stewart National Title Services as a national business development representative. In his new role, he will work to bring in new commercial business with particular focus on initiating business in the Midwest.

Another major bank took a hit as the National Credit Union Administration (NCUA) filed a lawsuit against Credit Suisse Securities.