NEW YORK: Bailed out mortgage lender Fannie Mae has reported losses of $19.76 billion for the September quarter, bogged down by staggering credit-related expenses. The ailing entity, which is surviving on billions of dollars-worth Federal funds, has requ ested the US government for another $15 billion. Fannie Mae's losses for the latest .. more »

The McLean, Va.-based company has received about $51 billion since it was seized by federal regulators in September 2008, but said it didn't need any more money for the second-straight quarter. "We continued to see some positive housing market developments, including higher volumes of home sales and modest increases in house prices in certain areas .. more »

Fannie Mae (FNM.P) (FNM.N) , which was seized by the government last year, said the quarterly loss stemmed from $22 billion in credit-related expenses, including charges on impaired loans it bought from mortgage-backed securities as it modified loans under President Barack Obama's foreclosure prevention plan. Fannie's regulator will .. more »

WASHINGTON (AP) -- Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising. The government-controlled company continued to see a dramatic surge of borrowers fall behind as the unemployment rate climbs. At the end of last .. more »

WASHINGTON (AP) -- Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year. The change announced Thursday could give a temporary break to thousands of homeowners, but critics .. more »

The investigating agency is examining allegations that a "tip off" saw some of the successful 2G spectrum awardees being ready with bulky documentation and bank drafts as soon as DoT decided to accept applications . This had led to suspicion that the playing field was tilted in favour of those having an inside track to decision-making .. more »

NEW DELHI: The countdown for the exit of L.K. Advani as Leader of the Opposition has begun. It seems the coming winter session starting on November 19 will be his last as leader of the Bharatiya Janata Party s parliamentary wing. Top party sources disclosed that Mr. Advani conveyed his decision to the Rashtriya Swayamsevak Sangh (RSS). Ahead of the .. more »

NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc has joined Goldman Sachs Group Inc in a bid to buy $3 billion in tax credits from mortgage giant Fannie Mae, the Wall Street Journal's website reported, citing people familiar with the matter. On Sunday the Journal reported that Goldman, the largest and most profitable U.S. investment .. more »

New Delhi: Aiming to take second generation reforms forward, the government is planning to table four financial sector bills, including the ones on pension reform and SBI legislations, in the winter session of Parliament. The government intends to table four bills—PFRDA Bill, SBI Amendment Bill, State Bank of Saurashtra Repeal Bill and State .. more »

The upcoming Parliamentary session mentions the introduction of a Constitutional amendment bill for GST. A bill for amendment is crucial and would be required to transfer some of the Centre s power of levying taxes to states, which the GST proposes to do. Sources say a meeting between the Empowered Group of Ministers (EGoM) will take place on .. more »

Crucial economic Bills for launching the Goods and Services Tax (GST) and the Direct Taxes Code are likely to be tabled in the Winter session of Parliament, which begins on November 19. Another key Bill to amend the Banking Regulation Act, besides a handful of Bills relating to banking and pension, is also likely in the Winter session. A Bill .. more »

Congress took further steps to right the staggering economy by expanding a popular tax credit for homebuyers and extending unemployment checks for the growing legions of people running out of benefits with few job prospects. The House passed the bill on a 403-12 vote Thursday, a day after the Senate ended a monthlong stalemate with a 98-0 vote. .. more »

New Delhi: International governance risk and compliance (GRC) solutions specialist, Cura Software Solutions on Thursday announced that it has received the “Compatible with Windows 7” logo for its Cura Enterprise GRC Platform and modules of software solutions. “Receiving this accolade bears strong testimony to our commitment to the .. more »

New Delhi: The Winter Session of Parliament which is set to start from November 19 will see the UPA finally going ahead with its promise to carry out comprehensive financial sector reforms. Free of its Left allies, the UPA is getting ready to introduce as many as seven key financial sector Bills in the upcoming session. Simultaneously, a Bill to .. more »

Bangalore: NASSCOM Foundation has tied up with TechSoup Global, USA, to announce the availability of Windows 7, the latest version of Microsoft Windows OS, for distribution to Indian NGOs. "Providing state-of-the-art software and technology to NGOs helps not just in terms of providing access to the latest technologies, but increases NGO .. more »