Freddie Mac trying to minimize exposure from failed lender, regional bank

Mortgage giant files claim with $1 billion in assets at risk
By Zachary A. Goldfarb
Washington Post Staff Writer
Tuesday, November 24, 2009

Freddie Mac, the government-backed mortgage finance giant, said Monday it's trying to minimize losses on more than $1 billion in assets at risk because of the summer collapse of mortgage lender Taylor, Bean & Whitaker and a regional bank with which it did business.

Plan ahead on donations to be safe come tax time

By Albert B. Crenshaw
Special to The Washington Post
Sunday, November 22, 2009

If you've noticed a slightly more hysterical tone in the fund requests we all get from charities this time of year, there's a reason: Donors, hit by factors as varied as the Madoff scandal and the general economic downturn, have cut back while the charities are facing greater demand for their services.

Renters becoming latest victims as foreclosure crisis widens

MULTIFAMILY DEFAULTS RISINGSome tenants left in dilapidated buildings
By Robin ShulmanWashington Post Staff Writer Monday, November 23, 2009

NEW YORK -- A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. In cities such as New York, Chicago and Los Angeles, where many investors are carrying upside-down mortgages on large rental buildings, some tenants are watching their homes fall apart along with the financing.

Today Real Estate News

Obama calls for White House summit on job creation Unemployment is 'one of the great challenges that remains'
By Michael A. Fletcher and Neil Irwin
Washington Post Staff Writers
Friday, November 13, 2009
President Obama plans to hold a White House forum on job creation next month, an attempt to signal his concern about the growing ranks of the unemployed and build consensus on future action to stoke the economy.

Fewer losing homes in D.C. area Bank repossessions down but on track to surpass 2008 total
By Renae Merle
Washington Post Staff Writer
Friday, November 13, 2009
Bank repossessions of homes in the Washington area declined last month but are on pace to surpass last year's total in most parts of the region by the end of the year, according to data released Thursday by RealtyTrac.

Banks to prepay FDIC for failures Agency to collect 3 years of insurance premiums in advance
By Binyamin Appelbaum
Washington Post Staff Writer
Friday, November 13, 2009
The Federal Deposit Insurance Corp. will collect $45 billion from the banking industry to cover the rising cost of bank failures, an unprecedented assessment that reflects the agency's projections that the current round of failures will not peak until next year.

Upbeat reports lift home builder stocks Unemployment, end of stimulus programs could upend gains
By Dina ElBoghdady
Washington Post Staff Writer
Thursday, November 12, 2009
U.S. home builder stocks surged Wednesday, invigorated by Toll Brothers' announcement earlier this week that orders for its homes have jumped during the latest quarter, outpacing expectations.

U.S. foreclosure program helping more people, but how much still unclear
By Renae Merle
Washington Post Staff Writer
Wednesday, November 11, 2009
The number of homeowners getting help from the government's massive foreclosure program is growing, according to data released Tuesday, but it is unclear how many of these borrowers might still lose their homes.

Dodd's overhaul goes well beyond other plans

3 new agencies would wield broad powers over financial entities

By Binyamin Appelbaum and Brady Dennis
Washington Post Staff Writer
Wednesday, November 11, 2009
A regulatory bill that Sen. Christopher J. Dodd (D-Conn.) introduced Tuesday would create three agencies aimed at policing threats to the economy, preserving banks in good health and protecting borrowers from abuse.
The bill would effect an overhaul of government far exceeding the reforms proposed by the Obama administration this summer or those under consideration by the House. It would bulldoze the existing regulatory establishment, stripping power from agencies including the Federal Reserve and the Federal Deposit Insurance Corp., and erect in its place a triumvirate of new regulators with sweeping, unprecedented powers...

Quicker rebound seen for D.C. area

Expansion expected to help restore tax revenue, Moody's says
By V. Dion Haynes
Washington Post Staff Writer
Wednesday, November 11, 2009
An anticipated expansion of the Washington area economy -- to be spurred largely by a federal hiring spree and military base realignment -- should help local governments restore tax revenue to pre-recession levels quicker than other municipalities across the country, according to a new report Tuesday by the bond rating firm Moody's Investors Service...

House votes to extend jobless benefits, expand home buyers' tax credit

$24 billion bill intended to shore up economy and political support

By Neil Irwin, Dina ElBoghdady and Perry Bacon Jr.Washington Post Staff Writer Friday, November 6, 2009

Congress gave final approval Thursday for an additional $24 billion to help the jobless and support the housing market as climbing unemployment poses a growing liability for elected officials.
The bill, passed overwhelmingly by the House and headed to President Obama for his signature Friday, extends unemployment insurance benefits that were due to expire and renews an $8,000 tax credit for first-time home buyers, while also expanding it to cover many other home purchases.
The legislation represents an effort by Democrats to strengthen the anemic economy. The Senate passed the measure unanimously Wednesday, reflecting the unwillingness to be seen as opposing measures to stimulate growth even among Republicans who are skeptical of greater government spending.
Despite tentative signs of revival in the economy, unemployment continues to pose a challenge to incumbents. A report due from the Labor Department on Friday morning is expected to show another rise in the jobless rate in October -- possibly into double digits.
Congress and the Obama administration are casting about for policies of limited scale to help buttress the economy. Like the "Cash for Clunkers" program enacted this year to promote auto sales, the latest bill has broad popular support even though economists disagree about its value.
Economists generally support extending unemployment insurance. The bill would prolong benefits for at least 14 weeks for people out of work. The jobless in more than two dozen states where unemployment rates exceed 8.5 percent would receive to 20 additional weeks of benefits.
Because unemployed people tend to be strapped for cash, they often spend most if not all of the money they receive as benefits. This in turn tends to give a bigger boost to the wider economy than do many other forms of government spending...