AP - With many banks still reporting massive writedowns and even quarterly losses from bad mortgage investments, it certainly seems like an odd time for financial stocks to rally.

Reuters - U.S. investment bank JP Morgan has held talks with potential partners about forming a consortium to break up British mortgage lender HBOS , The Daily Telegraph newspaper reported.

Reuters - The U.S. Senate voted on Friday to limit debate on a bill aimed at shoring up both the housing market and mortgage finance companies Fannie Mae and Freddie Mac, paving the way for a final vote expected on Saturday.

Reuters - The Dow and S&P 500 moved into negative territory on Friday, erasing earlier gains after Standard & Poor's said it may cut the subordinated debt and preferred stock ratings of Fannie Mae and Freddie Mac .

Reuters - A sweeping bill to aid the battered U.S. housing market and provide an emergency backstop for the mortgage finance system cleared a procedural hurdle in the Senate on Friday, setting it up for a Saturday vote.

AP - Regional bank National City Corp. on Thursday reported a $1.76 billion loss for the second quarter, as mortgage loans soured and it took a big charge related to previous acquisitions.

Reuters - The Senate was on course for a Saturday vote to approve a major housing market rescue bill with a lifeline for Fannie Mae and Freddie Mac and bond market action on Thursday indicated investors in the two mortgage finance giants were encouraged.

Reuters - The best way to help the ailing housing market recover from the $1 trillion of losses it faces will be to cut the cost of mortgages via the housing bill and rescue package for mortgage finance giants, the manager of the world's biggest bond fund said on Thursday.

Reuters - The U.S. Senate is due to vote finally on Saturday to approve a major housing market rescue bill, including federal financial assistance for Fannie Mae and Freddie Mac , the mortgage titans whose shares fell again in early Thursday trading.

AFP - The International Monetary Fund on Thursday welcomed the US government's plans to aid mortgage finance giants Fannie Mae and Freddie Mac and ease the housing crisis.

AP - Regional bank National City Corp. on Thursday reported a $1.76 billion loss for the second quarter, as mortgage loans soured and it took a big charge related to previous acquisitions.

AP - Mortgage rates shot up this week with 30-year mortgages climbing to the highest level in nearly a year, reflecting concerns in financial markets about the troubles at corporate giants Fannie Mae and Freddie Mac.