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Investors buy 558 million in mortgages from FDIC - 6 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

Wells Fargo chief unsure how many jobs will be cut - 4 hours ago - Wells Fargo Co. chief executive John Stumpf said Wednesday he does not know how many jobs will be cut as his bank absorbs Wachovia Corp., but he said it was a priority to keep losses at a minimum. Stumpf said in an interview with The 0133 : Forbes

PennyMac, Led by Ex-Countrywide Head, Buys FDIC Loans 0133 - 6 hours 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 - 4 hours 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

In tight market, government still has Rural Development loans 0133 - 1/1/2009 - Although the national credit market is roiling, the U.S. Department of Agriculture still has home loans with affordable monthly payments available to residents. The agency's Rural Development arm is one of the few lenders still offering 100 0133 : MLive.com

ICICI cuts home, auto loan rates 50 bps - 1/1/2009 - The bank s decision came after rate cuts by public sector banks and some of its major private sector rivals like HDFC and HDFC Bank earlier this month. ICICI Bank said it has reduced its floating reference rate FRR for home loans and auto 0133 : Business Standard

Late Loan Payments Hit Record High - 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 Wednesday. The association said delinquencies rose to a seasonally adjusted 2.9 0133 : KPIX-TV5

Homebuilders push housing aid plan - 4 hours ago - 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 today pushing a 150 billion plan to revive the housing market. 0133 : Santa Cruz Sentinel