from default, jumped 246 basis points to 792, according to prices for one-year ... this month's options expire at the end of next week, more than tripled to $5.50.Bloomberg - Bear Stearns, the second-biggest underwriter of mortgage- backed bonds, declined $5.73 ... Does the lender make privately or federally insured or guaranteed loans? Some mortgage loans may be backed by a federal agency, such as the Federal Housing Administration (FHA loans) or the Department of Veterans Affairs (VA loans).