AFP - The two US mortgage finance giants, Fannie Mae and Freddie Mac, said on Thursday they halt home foreclosures until early January as they modify loans to help keep owners in their homes.

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AP - Homebuilders’ confidence in a near-term housing recovery sank to a new all-time low this month, reflecting growing worries over the U.S. financial crisis, rising unemployment and weakening consumer confidence, an industry trade association said Tuesday.

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AP - Home prices fell in a record four out of five U.S. cities in the third quarter as low-cost foreclosures flooded the market and the U.S. housing market’s decline spread throughout the country.

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AP - Lawmakers complained Friday that the Bush administration is ignoring the will of Congress and slighting homeowners on the verge of foreclosure in its latest approach to spending $700 billion in economic rescue money.
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AP - Publicly breaking with the Bush administration’s official stance, the Federal Deposit Insurance Corp. proposed Friday to use $24 billion in government funding to help 1.5 million American households avoid foreclosure.
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AFP - The US banking system regulator Friday proposed a 24.4 billion-dollar program to restructure troubled home loans to avert foreclosures.

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Reuters - The Treasury Department is “aggressively” looking at ways to reduce skyrocketing home foreclosures under a $700 billion financial rescue program that so far has aimed at shoring up banks, the official in charge of the program said on Friday.

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BusinessWeek Online - It may seem like ancient history now, but not long ago the mortgage industry was turning ordinary people into millionaires. One of them was Sharmen Lane, a high school dropout who, like many other young women during the boom, found her way into an obscure banking job with the clunky title “mortgage […]

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