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Investors snap up mortgages Assets of failed bank 0133 - 4 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 : Las Vegas Review Journal

South Korea says risk of recession has increased - 2 hours ago - SEOUL, South Korea South Korea is moving closer to recession, the government said Thursday, as key indicators worsen amid a shrinking global economy. Though the slowdown in inflation continues, declines in production, exports, domestic 0133 : Lexington Herald-Leader

PennyMac, Led by Ex-Countrywide Head, Sees Promise in Bad 0133 - 8 hours ago - Jan. 8 Bloomberg Stanford Kurland, the former Countrywide Financial Corp. president, says his new company s purchase of 558 million in home loans issued by a failed Nevada bank will be a springboard for further growth. Private 0133 : Bloomberg

American Bankers Association Reports 2.9 Percent Delinquency 0133 - 2 hours ago - Washington, D.C. AHN - The global economic crisis, which was felt initially in September, was reflected in late payment on consumer loans increasing by 2.9 percent during the third quarter of 2008, according to the American Bankers 0133 : All Headline News

Record consumer-loan delinquencies - 6 hours 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. The association said delinquencies rose to a seasonally adjusted 2.9 percent from 0133 : Chicago Tribune

Low mortgage rates tough to get - 40 minutes ago - Mortgage rates are at their lowest level in decades, but thousands of Bay Area residents are discovering that qualifying for a loan is tougher than it has been in years. Banks are reluctant to lend at favorable rates to all but the most 0133 : Contra Costa Times

Paulson Floats Idea Of Mortgage 'Utilities' - - In his final speech scheduled as Treasury secretary, Henry M. Paulson Jr. yesterday proposed replacing mortgage-finance companies Fannie Mae and Freddie Mac with highly regulated utilities that would play a more limited role in making money 0133 : Washington Post

U.S. Banks Offer Mortgage Rates Below 5 as Fed Buys 0133 - 3 hours ago - Jan. 8 Bloomberg The largest U.S. banks are starting to offer fixed home loans below 5 percent after the government began buying mortgage securities to bolster the housing market. JPMorgan Chase Co. is advertising 30-year mortgages 0133 : Bloomberg