Loan applications jumped 50% last week, led by homeowners looking to refinance. U.S. mortgage applications jumped by nearly 50% last week as home loan rates fell after the Federal Reserve cut interest rates and took steps to restore bond-market confidence, an industry trade group said Wednesday.

NEW YORK (Reuters) - MBIA Inc (MBI.N) ousted Chief Executive Gary Dunton and replaced him with former CEO Joseph "Jay" Brown as the bond insurer scrambles to overcome mortgage-related losses, maintain a top credit rating and restore market confidence.