U.S. durable goods orders slump, mortgage demand wanes (Reuters)

Reuters - New orders for long-lasting U.S. manufactured goods notched their biggest decline in five months in June, while applications for mortgages fell last week in a sign that economic conditions remain fragile.

Subprime mortgage companies warn on U.S. foreclosures (Reuters)

Reuters - Companies that service risky residential mortgages are warning U.S. officials that a key program to slow foreclosures may push some financing costs higher and derail their efforts, said a leading subprime firm.

SEC files complaint against Phoenix company (AP)

AP - The Securities and Exchange Commission has charged four people and a Phoenix-based company with securities fraud for orchestrating a mortgage lending scam that raised nearly $200 million from investors.

Subprime mortgage companies warn on U.S. foreclosures (Reuters)

Reuters - Companies that service risky residential mortgages are warning U.S. officials that a key program to slow foreclosures may push some financing costs higher and derail their efforts, said a leading subprime firm.

Apax Partners begins tender offer for Bankrate (AP)

AP - Private equity firm Apax Partners launched a cash tender offer at $28.50 a share Tuesday to acquire all outstanding shares of consumer finance Web site operator Bankrate Inc.

Feds push mortgage companies to modify more loans (AP)

AP - The Obama administration, scrambling to get its main housing initiative on track, extracted a pledge from 25 mortgage company executives to improve their efforts to assist borrowers in danger of foreclosure.

AIG sells life insurance premium finance business (AP)

AP - Insurer American International Group Inc. said on Tuesday that it closed the sale of its life insurance premium finance business for $679.5 million in cash.

U.S. housing chiefs to push lenders for aid (Reuters)

Reuters - Senior U.S. housing officials and leading mortgage companies on Tuesday will make a fresh commitment to help troubled borrowers keep their homes and will promise to expand foreclosure-prevention aid, sources familiar with the plans said.

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U.S. housing chiefs to push lenders for aid: sources (Reuters)

Reuters - Senior U.S. housing officials and leading mortgage companies on Tuesday will make a fresh commitment to help troubled borrowers keep their homes and will promise to expand foreclosure-prevention aid, sources familiar with the plans said.

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