MORTGAGE

General Growth Properties, the large mall operator that exited bankruptcy protection last year, reported core funds from operation (FFO), which measures its ability to generate cash, of $224.2 million, or 23 cents per share, up slightly from FFO of $223.2 million in 2010.

Mortgage applications increased 10.3 percent in the week ending Nov. 4, according to the Mortgage Bankers Association.

Fannie Mae reported a $5.1 billion loss in the third quarter on Tuesday, up from a $2.9 billion loss in the second quarter of 2011, and a $3.5 billion loss in the third quarter of 2010.

Improved job growth and positive leasing fundamentals point to continued recovery in the office and industrial sectors, but buyers continue to focus on major cities over tertiary markets, according to a webcast on Tuesday from commercial real estate brokerage Marcus & Millichap.

Canadian housing starts slipped in October, but came in higher than expectations, as low interest rates and condominium building helped offset the impact of negative global economic news.

The number of homeowners with debt greater than the vaue of their homes rose to 28.6 percent in the third quarter, according to Zillow.

More homeowners were 60 days late or more on mortgage payments in the period of June to September, the first increase since the end of 2009, according to credit reporting agency TransUnion.

Perhaps the most invidious, appalling action during the financial crisis was the decision by the U.S. Federal Reserve to take over New York-based American International Group (AIG) in Sept. 2008. And it was the most necessary.

Societe Generale , France's second-biggest listed bankon, scrapped its 2011 dividend on Tuesday to help bolster capital when reporting quarterly profit fell sharply, hit by charges including Greek debt writedowns.

Morgan Stanley said a group of investors believes the bank may have sold defective mortgage bonds contained in more than $6 billion of trusts, signaling that it may face litigation over its involvement.

State attorneys general Eric Schneiderman of New York and Beau Biden of Delaware have teamed up to investigate mortgage crisis.

Most homeowners who refinanced their mortgages reduced their debt or stayed at the same loan value, according to third-quarter analysis by Freddie Mac.

September home sales showed mixed trends, but year-over-year foreclosures starts were down, suggesting some market recovery, according to the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury's October Housing Scorecard.

President Barack Obama's approval rating increased to 49 percent, up from 47 percent, according to the latest Reuters/Ipsos poll.

Barry Sternlicht's Starwood Property Trust reported net income in the third quarter of $14.5 million, down from $22.7 million in the same period in 2010.

The California attorney general on Thursday called on Fannie Mae and Freddie Mac to cut mortgage debt on the loans they own, a suggestion the government entities have long resisted.

Canadian housing starts are expected to stabilize into 2012, while sales of existing homes will rise slightly and price rises will moderate, Canada Mortgage and Housing Corp (CMHC) said in its quarterly outlook on Friday.

Chinese luxury home buyers are leading a legion of cash-rich non-UK investors in search of upmarket London homes, with demand driven by currency exchange rates that produce discounts of up to a quarter on purchase prices, research shows.

FBR Capital Markets believes the amendment to re-raise the loan limits at Fannie Mae and Freddie Mac in high-cost areas will be in the final bill and be enacted into law later this month.

Freddie Mac reported a $4.4 billion loss in the third quarter on Thursday and requested $6 billion in additional aid from the U.S. Treasury Department.

The Federal Reserve on Wednesday slashed its forecast for economic growth, raised projections for unemployment, and suggested Europe's debt crisis posed big downside risks to the U.S. economy.