Nov
AP - Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures during the holiday season.
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Nov
Reuters - The U.S. subprime mortgage crisis has sparked more than 250 class action suits against Wall Street banks and rating companies and will lead to rising regulation in 2009, top litigators said on Thursday.
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Nov
Reuters - A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a stake of up to 49 percent in American Life Insurance Co, a unit of U.S. insurance company American International Group , the Nikkei financial daily reported.
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Nov
BusinessWeek Online - The current U.S. downturn continues to generate remarkable moves in economic data. Consider the reports on U.S. consumer prices and housing starts for October, released on Nov. 19: The headline consumer price index (CPI) registered its largest monthly decline in 61 years, while housing starts reached the slowest pace of activity in the history of this data series.
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Nov
AP - Mortgage lending in Britain was down 44 percent in October compared to a year ago, further evidence the economic downturn is hurting an already weak property market, the Council of Mortgage Lenders said Thursday.
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Nov
Reuters - A U.S. Senate subcommittee is opening a probe into causes of the global financial crisis, focusing in part on whether bond-ratings firms, driven by conflicts of interest, boosted mortgage investments which have since collapsed, the Wall Street Journal said.
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Nov
Reuters - The government is investigating if homeowners were misled by California bank and mortgage issuer Golden West Financial, which was acquired by Wachovia Corp — another possible victim.
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Nov
Reuters - U.S. life insurer MetLife Inc disclosed information about its commercial mortgage portfolio on Wednesday in an effort to soothe investors that have become increasingly skittish about investments by insurers in commercial property debt.
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Nov
Reuters - Stocks plunged to their lowest in five-and-a-half years on Wednesday as investors girded for a lengthy economic downturn and automotive executives predicted a far-reaching calamity without a government lifeline.
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Nov
Reuters - Stocks fell on Wednesday as financial shares tumbled and uncertainty over a possible rescue for the auto industry fueled concerns about the deepening economic slump.
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