Personal Finance News

NEW YORK - Four New York City homeowners have filed a lawsuit charging they were denied access to a federal home-refinancing program. Full Story »

WASHINGTON - Fannie Mae said Monday it may have to ask the government for more financial assistance because the company cannot sell $5.2 billion in tax credits. Full Story »

NEW YORK - The life insurance subsidiaries of The Phoenix Companies Inc. received a ratings downgrade on Monday by Fitch Ratings. Full Story »

NEW YORK (Reuters) - The trial of two former Bear Stearns hedge fund managers went to a jury on Monday, the first high-profile Wall Street executives criminally charged with fraud over subprime mortgage-backed securities that fueled the market meltdown. Full Story »

TALLAHASSEE, Fla. - The state is suing two central Florida companies for allegedly scamming homeowners trying to rescue their properties from foreclosure. Full Story »

WASHINGTON - Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion. Full Story »

NEW YORK (Reuters) - Freddie Mac , the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing. Full Story »

NEW YORK - Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mortgage market, a defense lawyer told a jury on Friday. Full Story »

DES MOINES, Iowa - Over the last year it's become abundantly clear that the stock market can devastate even seemingly healthy retirement accounts. Even so, with the guaranteed income of traditional pensions disappearing, most investors have little choice. Full Story »

WASHINGTON - Emergency help for the jobless will be a huge windfall for Realtors, homebuilders, mortgage bankers and others, and that's no accident. Full Story »

OMAHA, Neb. - U.S. Sen. Mike Johanns said Thursday that his concern for Nebraska families is what's driving his opposition to legislation that would turn control of student loans over to the government — not lobbying from private student loan provider Nelnet Inc. of Lincoln. Full Story »

MINNEAPOLIS - Dolan Media Co., a provider of legal and professional publications and services, said Friday its third-quarter profit more than doubled as revenue grew sharply in its mortgage default processing services business. Full Story »

WASHINGTON - Consumers likely reduced their borrowing for an eighth straight month in September, as layoffs continue and credit remains tight. The declines in borrowing are expected to drag on the fledgling economic recovery. Full Story »

WASHINGTON - Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising. Full Story »

WASHINGTON (AFP) - US state-controlled mortgage lender Fannie Mae posted Thursday another multibillion-dollar quarterly loss and said it needed an additional 15 billion dollars in taxpayer funds. Full Story »

NEW YORK (Reuters) - Fannie Mae, the largest provider of funding for U.S. home loans, said on Thursday bad mortgages and a federal foreclosure prevention program left it with a $18.9 billion loss, forcing it to tap the Treasury again to plug a hole in its net worth. Full Story »

WASHINGTON - Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year. Full Story »

NEW YORK - Citigroup Inc. filed plans for an initial public offering of its Primerica Inc. life insurance unit late Thursday, and said it will sell the rest of the unit after it goes public. Full Story »