Nov
AP - President George W. Bush’s choice to be the federal watchdog over the $700 billion bailout for banks and other financial companies promised Monday to use his experience prosecuting mortgage and securities fraud to keep Congress apprised if the money is being misused.
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Nov
Reuters - A senior U.S. senator on Monday introduced legislation to let judges alter the terms of distressed mortgages in bankruptcy cases, reviving a controversial proposal meant to help troubled homeowners, a said an aide to the lawmaker.
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Nov
Reuters - Freddie Mac could post losses totaling $20 billion to $40 billion in 2009, hurt by higher credit costs and write-downs in mortgage assets, an analyst at Friedman Billings Ramsey said.
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Nov
AP - The Postal Service is investigating whether the nation’s postmaster general improperly received a sweetheart deal on a mortgage from Countrywide Financial Corp., the chairman of the service’s governing board said.
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