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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

Windhorst Beat Blog Cavs vs. Bobcats - 4 hours ago - Pregame Starting lineups Bobcats Raymond Felton, Matt Carroll, Gerald Wallace, Boris Diaw, Emeka Okafor Cavs Mo Williams, Delonte West, LeBron James, Ben Wallace, Anderson Varejao Officials Eddie F. Rush, Jack Nies, Michael Smith The 0133 : Cleveland Plain Dealer

LeBron has easy night, Cavaliers rout Bobcats - 1 hour ago - CLEVELAND The Celtics are coming. The Cavaliers are ready. LeBron James scored 21 points before grabbing an early seat on the bench, Mo Williams added 15 points and Cleveland warmed up for its highly anticipated matchup with Boston by 0133 : International Herald Tribune

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

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

Treasury's 'guidelines' hint at more bank rescues - 2 hours ago - The Treasury has quietly opened the door to more bailouts of major banks like Citigroup that the department deems too big to fail, exposing taxpayers to potentially large losses on the banks' souring loan portfolios. In a little-noticed 0133 : The Washington Times