AP - Fannie Mae has joined rival mortgage financer Freddie Mac in cutting its dividend and selling billions of dollars worth of special stock to raise capital to cushion against mounting losses from high-risk home loans. Read more…

A sweeping solution to the subprime lending crisis could get snagged by a big sticking point at the end of the mortgage chain. Read more…

National home prices showed their biggest quarterly drop in 25 years during the third quarter of 2007, said a report Tuesday. Read more…

Reuters - Six people were charged with fraudulently obtaining titles to scores of homes and taking out bad bank loans against them worth more than $20 million as part of a home foreclosure "rescue" scheme, according to a federal indictment unsealed in New York on Tuesday. Read more…

Reuters - Fannie Mae said on Tuesday it will sell $7 billion of preferred stock and slash its dividend 30 percent to shore up its capital base through 2008 as the U.S. housing slump worsens. Read more…

FT.com - Not all investors fully understood the complex financial products they were buying, leading investment bankers told MPs on Tuesday as one confessed his bank's entire subprime mortgage business was in the red. Read more…

AP - Mortgage finance giant Fannie Mae on Tuesday announced it was cutting its dividend 30 percent and selling $7 billion in special stock to raise additional capital. Read more…

Reuters - Four Democratic senators called Tuesday for the U.S. Treasury Department to open its mortgage aid package to the widest range of troubled homeowners possible. Read more…

Reuters - Cvil rights activist Jesse Jackson will hold a rally on Wall Street next week to persuade the financial community to help people who are foreclosing on their homes amid a deepening mortgage crisis. Read more…

Reuters - President George W. Bush said on Tuesday the country's economic fundamentals were strong despite "headwinds" from a weaker housing market, and he voiced confidence in a plan to ease the subprime mortgage crisis. Read more…

Reuters - H&R Block Inc said on Tuesday it is shutting down Option One Mortgage Corp's lending business and slashing 620 jobs as its sale of the struggling subprime mortgage unit to Cerberus Capital Management LP has fallen through. Read more…

FT.com - The Financial Services Authority on Tuesday warned Britain's mortgage lenders to batten down the hatches as it told them to assume that market conditions will remain "very difficult for a sustained period". Read more…

Reuters - Implementing the proposed bailout of subprime borrowers who face foreclosure may be so difficult that it will turn out to be no better than the loan modification efforts already underway, analysts said. Read more…

AFP - The regional German bank WestLB has drawn up credit lines for two troubled investment vehicles, Harrier Finance and Kestrel, a spokesman said Tuesday, as problems grow in the fallout from the US subprime home loan crisis. Read more…

Reuters - H&R Block Inc said on Tuesday the sale of its struggling subprime home lender unit, Option One Mortgage Corp, to Cerberus Capital Management LP was terminated, a move that will trigger $75 million of charges and 620 job cuts. Read more…

AP - Cerberus Capital Management LP and H&R Block Inc. said Tuesday they terminated their agreement for Cerberus to purchase H&R Block's mortgage subsidiary, which has now stopped accepting new mortgage applications. Read more…

AFP - The profitability of Singaporean banks could be hurt by renewed concerns over the US subprime mortgage crisis, or if the world's biggest economy slips into a recession, the central bank here said. Read more…

Already behind on your mortgage payments? No help there. Read more…

The U.S. government is working hard to give relief to struggling mortgage holders, Treasury Secretary Henry Paulson said Monday. Read more…

Question: I have a chance to pick up two ocean-front condos on the east coast of Florida for about $85,000. I was thinking of buying them in an all-cash deal with my IRA account, but I'm not sure whether you're allowed to own real estate inside an IRA. Can I do this? - Bernard Grossman, Hallendale Beach, Florida Read more…

A national labor union launched a campaign Monday against Countrywide Financial Corp., calling on members and other consumers to boycott the mortgage lender's banking subsidiary until it guarantees it won't foreclose on borrowers who have fallen behind on adjustable rate loans. Read more…

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FT.com - The crisis in subprime loans and collateralised debt obligations bears an "uncanny similarity" to previous woes in split capital investment trusts, according to Martin Gilbert, chief executive of Aberdeen Asset Management. Read more…

Reuters - U.S. Treasury Secretary Henry Paulson said on Monday he hoped a plan to spare homeowners facing mortgage-rate spikes would be ready by week's end and expressed faith the economy would dodge recession despite the deep housing slump. Read more…