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Investors buy 558 million in mortgages from FDIC - 3 hours ago - WASHINGTON A group of private investors including former executives of Countrywide Financial Corp. has purchased 558 million in home mortgages from the government in a deal involving assets of the failed First National Bank of Nevada, 0133 : Miami Herald

U.K. Services Shrink, House Prices Drop by the Most Since 1991 - 1 day ago - Jan. 6 Bloomberg U.K. services from restaurants to airlines shrank at close to the fastest pace in at least a dozen years and house prices fell by the most since 1991, suggesting that the recession is intensifying. An index based on a 0133 : Bloomberg

Subprime lender Cattles cuts jobs and costs - 8 hours ago - LONDON AP - Subprime lender Cattles PLC said Wednesday it plans to cut 20 percent of its work force and reduce costs to preserve capital as uncertainty over its funding situation continues. Cattles, which specializes in lending to people 0133 : PR Inside

Story, photos 'Extraordinary gathering' for Obama, Bush, 3 0133 - 2 hours ago - WASHINGTON Confronting a grim economy and a Middle East on fire, Barack Obama turned today to perhaps the only people on the planet who understand what he s in for the four living members of the U.S. presidents club. In an image bound 0133 : Green Bay Press-Gazette

PennyMac, Led by Ex-Countrywide Head, Buys FDIC Loans 0133 - 1 hour ago - Jan. 7 Bloomberg Private National Mortgage Acceptance Company LLC , an investor in troubled mortgages run by a former president of Countrywide Financial Corp., bought 558 million of home loans that the Federal Deposit Insurance Corp. 0133 : Bloomberg

Columbia profs Incentivize servicers to modify mortgages - 1 hour ago - Three Columbia University professors today tackled one of the thorniest problems of the housing debacle how to increase modifications to soured home loans that have been bundled into mortgage bonds. Troubled mortgages that back securities 0133 : Los Angeles Times Blogs

Home-equity loan delinquencies are highest level ever - 7 hours ago - ate payments on home equity loans rose to a record in the third quarter, as consumers remain under stress as unemployment rises and the credit crisis persists, the American Bankers Association reported. Home-equity delinquencies rose to 0133 : Daily Business Review

GM May Not Require Further U.S. Loans to Survive Update2 - 4 hours ago - Jan. 7 Bloomberg General Motors Corp. said it has enough government loans to cover its worst-case forecast for U.S. auto sales and won t need more if the economy holds up. Pledges from the U.S. Treasury for as much as 13.4 billion to 0133 : Bloomberg