FRANKFURT (Reuters) - One of Germany’s biggest financial groups, DZ Bank, joined the country’s growing list of casualties from the subprime mortgage crisis on Thursday when it said the turmoil had forced it to make heavy writedowns.
DZ Bank is the central bank for Germany’s roughly 1,100 cooperative banks and also links them to international […]

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LONDON (Reuters) - Moody’s Investors Service on Thursday said it may cut its bank financial strength rating on Fannie Mae (FNM.N), the largest provider of financing for U.S. home loans, after it reported a $3.6 billion quarterly loss.
Moody’s however said it affirmed Fannie Mae’s Aaa senior debt and Prime-1 short-term debt ratings with a […]

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Reuters - Republicans in the U.S. Senate are
likely to block this week a Democratic bill aimed at curbing
new home foreclosures by changing bankruptcy law, Senate
Majority Leader Harry Reid said on Thursday.
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WASHINGTON — A key Democratic congressman is planning a push to expand the federal government’s role in stabilizing the housing market, setting up a showdown with a White House that has largely looked for private-sector solutions.
Barney Frank, D-Mass., the chairman of the House Financial Services Committee, is floating an initiative that aims to refinance as […]

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The Government has announced today the regional distribution of more than £1bn to revitalise the housing market in key areas and restore stable communities.

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NEW YORK (AP) — Thornburg Mortgage Inc., a mortgage lender, said Thursday it has been the subject of margin calls on a portfolio of securities backed by alt-A mortgages.
Alt-A mortgages are loans given to customers with minor credit problems or who cannot document their income or assets to get a traditional, prime mortgage. Margin calls […]

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NEW YORK (CNNMoney.com) — Following a January surge in refinancing activities, mortgage rates rose this week in the lackluster housing market, but are likely to decline, Freddie Mac reported Thursday.
“Refinancing activities, which had surged to a 12-month high in January, according to Freddie Mac’s monthly refi-share report, are likely to ebb following this recent rise […]

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NEW YORK (CNNMoney.com) — The granite countertop’s glory days might be over.
During the housing boom, updating a kitchen with high end materials like cherry wood cabinets and a Viking stove was a sure bet to boost a home’s value. Homeowners often recovered about 80% of the cost when the house was later sold.
But with so […]

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