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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

UK loses further 1,400 jobs as Barclays and Cattles cut staff - 1 hour ago - Barclays is to slash 408 IT jobs across the country, the banking group said in a statement as it seeks a more efficient operation amid a deepening economic slowdown. All the roles affected - 158 permanent staff and 250 contractors - are 0133 : Daily Telegraph

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

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 - 31 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

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

Late Loan Payments Hit Record High - 3 hours ago - Boston CBS AP 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 0133 : WWJ Newsradio 950