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Both mortgage finance companies to be placed in a conservatorship under the Federal Housing Finance Agency; CEOs resign; Treasury Department to purchase up to $100 billion of each company’s preferred stock.
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The United Kingdom rolls out its own housing rescue plan, Gustav dampens New Orleans’ spirits, and two U.S. public builders report millions of dollars in quarterly losses.
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California and Florida remain biggest trouble spots, but most states fell below the national delinquency average, says latest Mortgage Bankers Association survey.
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Landmark legislation links land use approvals and transportation funding to climate change with hopes of changing California's car culture.
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The national economy is still losing jobs every month, and construction jobs, which saw a smaller decrease than normal this month, continue to lead the way.
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Company says cancellation rate of 19.4% is lowest in nine quarters.
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Construction loans fastest-growing category of ‘troubled’ loans, according to FDIC report.
Clean-up effort begins.
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CEO sees some positive signs in troubled California markets, but says it is too early 'to say a recovery is underway.'
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WASHINGTON - Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July.