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PennyMac, Led by Ex-Countrywide Head, Sees Promise 0133 - 18 hours ago - Jan. 8 Bloomberg Stanford Kurland, the former Countrywide Financial Corp. president, says his new company s purchase of 558 million in home loans issued by a failed Nevada bank will be a springboard for further growth. Private 0133 : Bloomberg

Citi agrees to let judges alter mortgages - 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 said they expected other lenders to follow. The lawmakers said Thursday 0133 : CNBC

Obama Congress must act boldly and now on economy - 50 minutes ago - WASHINGTON President-elect Barack Obama implored Congress on Thursday to act boldly and act now to fix an economy growing perilously weaker. Leading lawmakers set an informal goal of mid-February for enacting tax cuts and government 0133 : Seattle Post Intelligencer

Fitch cuts GMAC rating to Restricted Default - 2 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

Citi reaches deal with lawmakers on home loans - 50 minutes ago - 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 : BusinessWeek

Citigroup nears compromise on some home loans - 3 hours ago - WASHINGTON - Citigroup Inc. is in advanced talks with lawmakers on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures, a person briefed on the matter said Thursday. Until now, the banking industry has been 0133 : Chicago Tribune

Citigroup backs Congress plan on home loans lawmakers - 1 hour ago - Congressional leaders said Thursday they have reached agreement with Citigroup on legislation to provide relief to cash-strapped homeowners at risk of losing their homes. Lawmakers want to include the legislation, which would allow 0133 : Raw Story

Citi, Lawmakers Reach Deal on Home Loans - 3 hours ago - WASHINGTON Jan. 8 - 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 said they expected other lenders to follow. The lawmakers said 0133 : Walletpop.com