AP - Former Kentucky basketball player Dirk Minniefield has been charged in an alleged $10 million mortgage scheme in the Houston area.
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Reuters - Beazer Homes USA posted a wider quarterly loss on Tuesday, citing a further deterioration of the U.S. housing market due to lower consumer confidence levels and reduced access to mortgage financing.
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AP - Russia’s government pledged a mortgage buyout Wednesday and announced more aid for major airlines and other companies beyond an existing $200 billion financial rescue package, Russian news agencies reported.
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The housing market has halved in a year, according to a series of reports.
It emerged yesterday that house sales through estate agents are down 50 per cent and the number of Britons taking out a mortgage has collapsed by 46 per cent.
The National Association of Estate Agents said its firms sold an average of seven […]

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NEW YORK (Reuters) - Bank of America Corp (BAC.N), the largest U.S. retail bank, may set aside a record $6.5 billion in the first quarter to cover possible future loan losses, including in its mortgage and home equity portfolios, according to a banking analyst.
Richard Bove of Punk Ziegel & Co also slashed his earnings […]

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Wired News
As the mortgage and financial crisis continues to notch more victims, the question on many economists’ minds is not whether a recession will happen, but how deep it will get and how long it will last. But one prominent voice thinks the high-flying finance industry isn’t going to bounce back — and that we’ll […]

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Reuters - Citigroup Inc shares sank to their lowest level in more than nine years on Tuesday after a prominent Middle East investor said the largest U.S. bank needs to raise more capital and an analyst projected a $15 billion mortgage write-down.
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AP - The number of homes facing foreclosure jumped 57 percent in January compared to a year ago, with lenders increasingly forced to take possession of homes they couldn’t unload at auctions, a mortgage research firm said Monday.
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