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Investors buy 558 million in mortgages from FDIC - 8 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 - 57 minutes 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 : Boston Globe

Fitch cuts GMAC rating to Restricted Default - 17 hours ago - Fitch Ratings said Thursday it downgraded its issuer default rating for GMAC LLC to Restricted Default from CCC, citing the recent completion of the financing company's bond exchange. The exchange covered about 28.8 billion of 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

Handling Home Payments Loses Profit Luster as Bad Loans Pile 0133 - 2 hours 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

Citi reaches deal with lawmakers on home loans - 3 hours 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 0133 : Boston Globe

Democrats back deal to alter home loans - 4 hours 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