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Citigroup OKs deal to alter mortgages - 1 hour ago - WASHINGTON AP Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures. They expect other lenders to follow. The lawmakers said yesterday they 0133 : Columbus Dispatch

Investors buy 558 million in mortgages from FDIC - 7 hours ago - WASHINGTON AP 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 0133 : Associated Press

Obama team working on overhaul of financial rescue - 1 hour ago - WASHINGTON Reuters - President-elect Barack Obama's economic team is working on an overhaul the 700 billion financial rescue program with the aim of doing more to spur the flow of credit to the struggling U.S. economy, an Obama aide said 0133 : Reuters

Bank overnight deposits at ECB flat at 265 bln eur - 5 hours ago - FRANKFURT, Jan 9 Reuters - Commercial banks parked over 265 billion euros at the European Central Bank overnight, figures showed on Friday, as they continued to hoard their excess cash rather than lend it in money markets. Banks deposited 0133 : Forbes

Cleveland Cavaliers' LeBron James scores 21 in win over 0133 - 1 day ago - The Cavaliers may not have been looking ahead to Friday's game with the Celtics while they were playing the Charlotte Bobcats on Wednesday night, but it sure didn't take them long to shift focus. In the minutes after their 111-81 blowout of 0133 : Cleveland Plain Dealer

Democrats back deal to alter home loans - 33 minutes ago - WASHINGTON Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit. The lawmakers aim to attach the plan to 0133 : Baltimore Sun

Handling Home Payments Loses Profit Luster as Bad Loans Pile 0133 - 1 hour ago - Jan. 9 Bloomberg Bank of America Corp., GMAC LLC, and WL Ross Co. are among mortgage servicers that have endured billions of dollars in unexpected costs and added thousands of workers to handle rising foreclosures, denting a business 0133 : Bloomberg

Citigroup, lawmakers make deal on loans - 1 hour ago - WASHINGTON Democratic lawmakers have reached a deal with Citigroup on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit. The lawmakers aim to attach the plan to 0133 : Newark Star-Ledger