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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

Fewer apply for home loans credit line delinquencies increase - 7 hours ago - Fewer Americans applied for mortgages last week and more have been missing payments on their home equity lines of credit, according to surveys released Wednesday. The Mortgage Bankers Assn. said applications for home loans fell 8.2 last 0133 : Los Angeles Times

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

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

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

Pasco receives 400K help from feds - 3 hours ago - A new federal program designed to help cities and counties struggling with home foreclosures will provide Pasco with about 400,000. The Neighborhood Stabilization Program was passed as part of the Housing and Economic Recovery Act of 2008 0133 : Tri-City Herald