McCain, Obama clash over economic crisis (AP)
AP - Barack Obama and John McCain clashed repeatedly over the causes and cures for the worst economic crisis in 80 years Tuesday night in a debate in which Republican McCain called for sweeping action by the government to directly shield many homeowners from mortgage foreclosure. More »
McCain would buy bad homeowner mortgages (AP)
AP - Republican presidential candidate John McCain announced Tuesday he would order the federal government to spend $300 billion in federal funds to buy up bad home mortgages and allow financially troubled homeowners to keep their houses. More »
McCain pledges to buy up 300 bln in US home loans (AFP)
AFP - The US government would snap up 300 billion dollars of bad home loans, Republican John McCain vowed Tuesday unveiling a new plan to help struggling homeowners if he is elected president. More »
McCain says he would buy up bad home mortgages (Reuters)
Reuters - Republican U.S. presidential candidate John McCain on Tuesday said that if elected president he would order the Treasury Department to buy bad home mortgages and renegotiate them to help homeowners in trouble. More »
Dubai property developers upbeat despite overheating warnings (AFP)
AFP - Property developers in Dubai remain upbeat about the growth of the sector, which has seen prices rocket in recent years, despite warnings of overheating and the global financial turmoil. More »
NJ may bill mortgage lenders $2,000 per foreclosure (Reuters)
Reuters - A panel of New Jersey legislators on Monday approved a measure to make mortgage lenders pay $2,000 before taking a homeowner into foreclosure. More »
Bank of America to spend up to 8.4 billion on Countrywide (AFP)
AFP - Bank of America said Monday it was ready to spend up to 8.4 billion dollars to restructure the loan portfolio of mortgage giant Countrywide following settlement of a lawsuit targeting the firm's "predatory" lending practices. More »
Bank of America settles suits over bad mortgages (AP)
AP - Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes. More »
BofA in $8.6 billion settlement over Countrywide loans (Reuters)
Reuters - As part of a settlement with state attorneys general that could be worth as much as $8.6 billion, Bank of America Corp said on Monday it would cut interest rates and principal on some troubled mortgages originated by Countrywide Financial Corp. More »
Regulator says Fannie, Freddie might sell bad assets (Reuters)
Reuters - Fannie Mae and Freddie Mac may sell some bad assets to the Treasury Department but a decision has not yet been made, the regulator of the two mortgage finance companies said on Sunday. More »
Chenal Valley Experiences Glut of Lots
Chenal Properties, a subsidiary of Deltic Timber Corp., begins feeling the pains of a slowing housing market. More »
In Times Like These (Editorial)
It helps to take a deep, cleansing breath and look for things for which to be grateful. More »
Baptist Grows, Other Hospitals Struggle
When Baptist Health of Little Rock announced last week it was taking over the management of Stuttgart Regional Medical Center, it was just another addition to the growing hospital system. More »
State Fair Valuation (Jeff Hankins Publisher's Note)
It's time to rethink the whole State Fair business plan. More »
For bailout to work, housing market needs to mend (AP)
AP - Washington's financial bailout plan is now law. So the credit spigot will start flowing again, banks will resume lending, and an economic recovery can begin, right? More »
Mortgage forgiven for woman, 90, who shot herself (AP)
AP - Mortgage finance company Fannie Mae said it is forgiving the mortgage debt of a 90-year-old woman who shot herself in the chest as sheriff's deputies attempted to evict her. More »
The Cabinet: Veterans Affairs Secretary (CQPolitics.com)
CQPolitics.com - The VA oversees the nation's network of health care hospitals, benefits programs, and national cemeteries for America's veterans and their dependents. Much of its $90 billion budget goes toward health care through the Veterans Health Administration. The VA operates pension, education, rehabilitation, and home loan guaranty programs. More »
Issues: The Economy: More Trouble Ahead (CQPolitics.com)
CQPolitics.com - It's going to take a long time to dig out from the damage of the economic storms now buffeting the country. Every aspect of the next president's agenda will be affected by the banking crisis, the credit squeeze, the housing market meltdown -- and the fallout for ordinary Americans who are losing their jobs and homes. More »
For bailout to work, housing market needs to mend (AP)
AP - Washington's financial bailout plan is now law. So the credit spigot will start flowing again, banks will resume lending, and an economic recovery can begin, right? More »
2 firms selected for mortgage securities program (AP)
AP - The Treasury Department has picked two financial institutions to manage a program it unveiled last month to provide support for beleaguered mortgage-backed securities. More »
Mother and son plead guilty in NY mortgage fraud (Reuters)
Reuters - The mother and son operators of a New York mortgage brokerage firm and one of their employees pleaded guilty on Friday to taking part in a multimillion dollar subprime mortgage scheme. More »
US hires Barclays, State Street to manage mortgage debt (AFP)
AFP - The US Treasury said Friday it had taken on Barclays Global Investors and State Street Corp. to manage the mortgage debt purchased in its takeover of Fannie Mae and Freddie Mac. More »
Ohio woman, 90, attempts suicide after foreclosure (Reuters)
Reuters - A 90-year-old Ohio woman, facing eviction from the home she has lived in for 38 years, shot and wounded herself this week, becoming a grim symbol of the U.S. home mortgage crisis. More »
UBS to cut 2,000 jobs (AFP)
AFP - Switzerland's biggest bank UBS on Friday said it would axe another 2,000 jobs as it moved to shrink its investment bank which had been battered by the US subprime loan crisis. More »
UBS to cut 2,000 jobs in investment bank unit (AFP)
AFP - Switzerland's biggest bank UBS said it would cut 2,000 more jobs as it revamps its investment bank which had been battered by the US subprime crisis. More »