Real Estate News
Gov't launches mortgage aid program (AP)
AP - The government kicked off a program Wednesday that aims to prevent foreclosures by letting an estimated 400,000 troubled homeowners swap their mortgages for more affordable loans. More »
Should Congress Be 'Perp-Walked'? (Investor's Business Daily)
Investor's Business Daily - Justice: A federal grand jury in New York is probing the accounting shenanigans at Fannie Mae and Freddie Mac. It's about time, and we hope it doesn't end there. More »
ACORN's Senator (Investor's Business Daily)
Investor's Business Daily - Election '08: Barack Obama wasn't just the second-largest recipient of Fannie Mae and Freddie Mac political contributions. He was also the senator from ACORN, the activist leader for risky "affirmative action" loans. More »
Barclays gets most Fannie, Freddie, FHLB business (Reuters)
Reuters - Barclays Capital, the investment banking arm of Barclays Plc , retained its spot as top underwriter in the $3 trillion federal agency debt markets in 2008 year-to-date from a year earlier, according to Thomson Reuters. More »
Microsoft Calls for Passage of Bailout Plan (NewsFactor)
NewsFactor - Software giant Microsoft is not saddled with subprime mortgages, nor is it a bank threatened by a run of angry depositors. Nonetheless, the financial crisis currently roiling Wall Street is being felt in Redmond, Microsoft CEO Steve Ballmer said, and Congress needs to take action. More »
Housing bust may not bottom till 2010: Moody's (Reuters)
Reuters - The U.S. housing market bust may not bottom until 2010, later than previously thought, and more home builders may fail before the housing market recovers, Moody's Investors Service said in a new report. More »
Home prices plunge record 16.3 percent in July: S&P (Reuters)
Reuters - Prices of U.S. single-family homes plunged a record 16.3 percent in July from a year earlier, extending declines that have plagued the housing market for two years, according to the Standard & Poor's/Case-Shiller Home Price Indexes. More »
Fannie, Freddie disclose subpoenas, investigations (AP)
AP - Adding to their woes, mortgage finance giants Fannie Mae and Freddie Mac are facing a federal grand jury investigation into their accounting practices. More »
Fannie, Freddie get federal grand jury subpoenas (Reuters)
Reuters - Fannie Mae and Freddie Mac, the U.S. mortgage finance giants that were taken over by the government this month, said on Monday they were subpoenaed for documents as part of a federal grand jury investigation into their accounting. More »
Saddest Thing About This Mess: Congress Had Chance To Stop It (Investor's Business Daily)
Investor's Business Daily - Could the crisis at Fannie Mae - Freddie Mac and the subprime meltdown have been avoided? More »