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Reuters - Democratic President-elect Barack Obama intends to retain Federal Deposit Insurance Corp head Sheila Bair, who has pushed for fast mortgage modifications, according to a report on Wednesday.
AP - Treasury Secretary Henry Paulson said Wednesday that allowing mortgage giants Fannie Mae and Freddie Mac to return to their old operating ways is not an option.
Reuters - U.S. banks will have to raise fresh capital in 2009, and a sharp increase in credit-rating downgrades on mortgage-related securities will lead to further stresses on the companies' capital, according to prominent banking analyst Meredith Whitney.
Reuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.
Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures.
