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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

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

Home-equity loan delinquencies are highest level ever - 10 hours ago - ate payments on home equity loans rose to a record in the third quarter, as consumers remain under stress as unemployment rises and the credit crisis persists, the American Bankers Association reported. Home-equity delinquencies rose to 0133 : Daily Business Review

Arizona MLS Takes Steps to Solve the Financial Crisis - 7 hours ago - PHOENIX - Business Wire The Arizona Regional Multiple Listing Service ARMLS is taking steps to reverse the downturn in the metropolitan Phoenix real estate market. ARMLS is piloting a collateral risk scoring program for residential 0133 : Earthtimes

GM May Not Require Further U.S. Loans to Survive Update2 - 7 hours ago - Jan. 7 Bloomberg General Motors Corp. said it has enough government loans to cover its worst-case forecast for U.S. auto sales and won t need more if the economy holds up. Pledges from the U.S. Treasury for as much as 13.4 billion to 0133 : Bloomberg