Business: Personal Finance

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.

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

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

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

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

Among the earnings stories for Thursday, Nov. 5, from AP Financial News:

NEW YORK (Reuters) - The U.S. Federal Reserve's balance sheet grew slightly in the latest week on increased holdings of government and mortgage agency debt, Fed data showed on Thursday.

BOSTON - The U.S. Supreme Court is taking a close look at a question individual investors have long asked about their mutual funds, but the courts have largely ignored: Why am I getting charged twice as much as big institutional clients?

WASHINGTON - Rates for 30-year home loans dipped below 5 percent this week after rising for three straight weeks.

COVINGTON, Ky. - Omnicare Inc., which dispenses drugs to nursing homes and long-term care facilities, said Thursday its third-quarter profit rose 13 percent as lower costs and an income tax adjustment offset a dip in revenue.

NEW YORK (Reuters) - U.S. mortgage rates fell below 5 percent for the first time in three weeks, a key level that may boost home loan demand and help the hard-hit housing market recover, a closely watched mortgage survey showed Thursday.

TALLAHASSEE, Fla. - Mediation would be a good way to expedite a flood of mortgage foreclosures, members of a foreclosure task force said Wednesday, but some disagreed on the details in oral arguments before the state Supreme Court.

NEW YORK (Reuters) - GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, posted a third straight quarterly loss on Wednesday, hurt by red ink in its mortgage business.

NEW YORK - GMAC, the main lender for GM and Chrysler customers and dealers, reported another quarterly loss Wednesday as bad loans continued to haunt its mortgage lending unit.

MONTGOMERY, Ala. - A national study released Wednesday showed Alabama makes families living in poverty pay higher income taxes than any other state.

"SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance" (William Morrow, 320 pages. $29.99) by Steven D. Levitt and Stephen J. Dubner: In their 2005 book "Freakonomics," economist Steven D. Levitt and journalist Stephen J. Dubner used dozens of interesting anecdotes to prove a simple point: "People respond to incentives."

LONDON - Drain the moat, tear down the duck house, fire the housekeeper. British lawmakers face strict new allowance rules following a scandal over their outrageous expense claims.