AP - With lawmakers angling to pass an economic recovery package by the middle of next month, desperate homebuilders from around the country flew to Washington to spend Wednesday pushing a $150 billion plan to revive the housing market.
Reuters - U.S. President-elect Barack Obama said on Wednesday he planned to unveil a plan to stem the mounting tide of home foreclosures in the next month or two.
AP - Treasury Secretary Henry Paulson on Wednesday said the best option for the future of Fannie Mae and Freddie Mac could be for the mortgage giants to be run like public utilities.
AP - A group of private investors including former executives of Countrywide Financial Corp. has purchased $558 million in home mortgages from the government in a deal involving assets of the failed First National Bank of Nevada, the investors announced Wednesday.
AP - Paulson says allowing mortgage giants Fannie Mae and Freddie Mac to return to their old operating ways is not an option.
AP - Subprime lender Cattles PLC said Wednesday it plans to cut 20 percent of its work force and reduce costs to preserve capital as uncertainty over its funding situation continues.
