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

Subprime lender Cattles cuts jobs and costs - 7 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

Obama's new presidential limo will be a Cadillac hybrid - 4 hours ago - Brenda Priddy and CO. DETROIT - President-elect Barack Obama 's new ride has arrived - and it's a hybrid, according to CNN . The Detroit News reports Tuesday that a new model of a presidential limousine made by General Motors Corp. has been 0133 : New York Daily News

Analysis Is Chrysler a lost cause? - 4 hours ago - DETROIT Even by the standards of battered automakers, Chrysler is in dire shape. Its sales in December were down a stunning 53 percent, far worse than Ford or General Motors, and analysts say it probably won't survive the year as an 0133 : Charleston Daily Mail

Obama hails 'extraordinary' moment with presidents - 2 hours ago - WASHINGTON Confronting a grim economy and a Middle East on fire, Barack Obama turned Wednesday to perhaps the only people on the planet who understand what he's in for the four living members of the U.S. presidents' club. In an image 0133 : International Herald Tribune

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

REIT plan gets set for finishing touches - 2 hours ago - China's central bank is drafting proposals to set up real estate investment trusts REITs , as part of the government's efforts to ease the cash constraints of property developers, officials said Tuesday. We are formulating a plan on REITs 0133 : China Economic Net