UK mortgage woes

Financial Times - A perfect storm is brewing in the UK mortgage market, whipping competition among lenders to unusually ferocious levels. For one thing, rising interest rates have started at last to choke demand. Figures from the British Bankers Association

UPDATE 2-Fannie Mae discusses buying more loans; stock gains
Reuters - NEW YORK, Aug 6 (Reuters) - Mortgage finance company Fannie Mae has started talks with its regulator on buying more loans, a source close to the talks said on Monday, which would provide home buyers with financing at a time when lenders are choking

Countrywide Tries to Reassure Investors
San Francisco Gate - del.icio.us Countrywide Financial Corp. said Monday it has access to $46.2 billion in cash, credit lines and other investments, a move aimed at reassuring nervous investors the nation’s biggest mortgage lender can weather a market downturn. The

Transnational Financial Network, Inc. Acquires Telava Networks, Inc.
MSN MoneyCentral - Transnational Financial Network, Inc. (Pink Sheets:TRFN) and Telava Networks, Inc., today announced they have entered into an agreement whereby Transnational Financial Network (”the Company”) would acquire Telava and sell the Company’s mortgage