A government-backed mortgage bailout is needed, and it must be done right away. ...more

May 10, 2008

As we spend this month celebrating the achievements of black Americans, I'm saddened by a report that concludes that the subprime mortgage crisis has caused the largest loss of wealth in modern U.S. history for black and Latino homeowners. ...more

February 17, 2008

Treasury Secretary Henry Paulson said Tuesday the Bush administration is exploring what would be a significant expansion of the program to help at-risk mortgage holders. ...more

January 9, 2008

The Federal Reserve moved Tuesday to protect homebuyers from dubious lending practices, its most sweeping response to a mortgage meltdown that has forced record numbers of people from their homes. ...more

December 19, 2007

People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest borrowers, already hit hardest by the housing and credit crunches. ...more

December 16, 2007

The malaise in the mortgage market is starting to spread to credit-card and auto loans in what one analyst has dubbed consumer credit "contagion." It's an ominous warning signal for the economy. ...more

November 7, 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

U.S. Rep. Barney Frank, whose efforts to clamp down on mortgage-lending abuses were thwarted by the last Republican Congress, is about to try again. He should have better luck this time. ...more

September 18, 2007