AFP - Countrywide Financial, the largest mortgage lender at the center of the US housing crisis, regularly gave loans on favorable terms to prominent lawmakers and former cabinet members, according to US media.

Reuters - Wachovia Corp shares fell as much as 10.2 percent to their lowest level since 1992 on concern the fourth-largest U.S. bank might cut its dividend a second time, and after another mortgage lender with heavy exposure to California reported a jump in nonperforming assets.

AP - Soaring foreclosures are continuing to raise questions about the mortgage industry's claims that they are making a dent in the housing crisis.

Reuters - Thornburg Mortgage Inc , a specialist in jumbo home loans that nearly went bankrupt in March, posted a $3.31 billion first-quarter loss on Thursday as the value of mortgages and other securities it owns plummeted.

Reuters - U.S. fixed mortgage rates surged to their highest in almost eight months after central bankers jolted financial markets with concerns of accelerating inflation.

Reuters - Democratic presidential candidate Barack Obama on Wednesday said the head of his vice presidential search team and former head of the mortgage giant Fannie Mae had decided to step aside.

Reuters - The biggest U.S. banks that service more than 23 million mortgages totaling $3.8 trillion have focused on short term relief for troubled borrowers rather than permanent changes to mortgage conditions to prevent foreclosures, a top U.S. banking regulator said on Wednesday.

Reuters - Shareholders of American International Group Inc are demanding changes to the management and board of the world's largest insurer, which has been struggling with the fallout of the subprime mortgage mess.