The House on Wednesday easily approved legislation that seeks to slow the steepest slide in house prices in a generation, rescue hundreds of thousands of homeowners at risk of foreclosure and reassure global markets that mortgage-finance giants Fannie Mae and Freddie Mac will not be allowed to fail. ...more

July 24, 2008

NATION Bank Unclear On Debt Bank of America, which has announced plans to buy Countrywide Financial, said in a regulatory filing that there were no assurances that a big chunk of the distressed subprime mortgage lender's debt would be redeemed, assumed or guaranteed. ...more

May 3, 2008

Joe Lents hasn't made a payment on his $1.5 million mortgage since 2002. That's when Washington Mutual Inc. first tried to foreclose on his home in Boca Raton. The Seattle-based lender failed to prove that it owned Lents' mortgage note and dropped attempts to take his house. Subsequent efforts to foreclose have stalled because no one has produced the paperwork. ...more

February 22, 2008

Regulators are trying to punish Wall Street for mortgage finance practices that not only expanded home ownership and spread risk among a host of new players - but also may have duped borrowers and investors who supplied cash to fuel a housing boom that has turned bust. ...more

February 19, 2008

Fannie Mae warned investors Wednesday that its losses would mount next year from bad home loans, even as the mortgage finance company took steps to stabilize its finances. ...more

December 6, 2007

The CEO of the country's biggest mortgage lender says greater government intervention is needed to rescue the U.S. housing market as his peers warn the worst is yet to come. ...more

December 4, 2007

Fannie Mae's third-quarter loss more than doubled to $1.4 billion, the mortgage finance company said Friday, while forecasting industry troubles through 2008 because of mounting home loan delinquencies. ...more

November 10, 2007

Countrywide Financial Corp., the nation's largest mortgage lender, said Tuesday that it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008. ...more

October 24, 2007

GMAC Financial Services said on Wednesday it would cut about 3,000 jobs, or 25 percent of the work force at its Residential Capital LLC mortgage operation. ...more

October 18, 2007

Mortgage finance company Freddie Mac will pay $50 million to settle federal charges that it fraudulently misstated earnings over a four-year period. ...more

September 28, 2007