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U.S. auto sales drop in 2008, recovery unclear - 6 hours ago - DETROIT After a year in which U.S. auto sales tumbled 18 percent and GM had its worst year in nearly a half-century amid slack demand fueled by a terrible economic outlook and growing job worries, automakers are reluctant to predict when 0133 : Edmond Sun

Subprime lender Cattles cuts jobs and costs - 2 hours ago - 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 who cannot get 0133 : Columbia Missourian

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

Late Loan Payments Hit Record High - 1 hour ago - Late payments on consumer loans in last year's third quarter hit the highest level since record-keeping began in 1980, the American Bankers Association said Wednesday. The association said delinquencies rose to a seasonally adjusted 2.9 0133 : CBS 3 Philadelphia

Late loan payments hit a record high - 3 hours ago - BOSTON - Late payments on consumer loans in last year s third quarter hit the highest level since record-keeping began in 1980, the American Bankers Association ABA said Wednesday. The association said delinquencies rose to a seasonally 0133 : MSNBC

Homebuilders push housing aid plan - 56 minutes ago - Jan 7th, 2009 WASHINGTON With lawmakers angling to pass an economic recovery package by the middle of next month, desperate homebuilders from around the country flew to Washington to spend Wednesday pushing a 150 billion plan to 0133 : Salon

Arrowhead Credit Union closes four branches, trying to avoid 0133 - 2 hours ago - The San Bernardino-based financial institution announced Tuesday it's closing four branches and plans to lay off 20 employees, unless it can find other positions for them. We don't know how long this thing is going to go, so we're trying 0133 : Inland Valley Daily Bulletin

FDIC Makes A Deal - 1 hour ago - America has been burned by fancy mortgages , but that isn't stopping the U.S. government from doing some financial engineering with the ruins of the home finance business. On Wednesday, Uncle Sam got a bunch of bad loans off his books in a 0133 : Forbes