FANNIE MAE

European stocks got hammered on Monday and the euro tumbled as well, as investors moved into safe assets. Rising fears over Europe's sovereign debt crisis and economic growth concerns in Europe and the U.S. is driving the move away from equities. The yield on the benchmark 10-year German government bond fell to well below two percent -- a new record. The Stoxx Europe 600 index fell 4.1 percent Monday, closing at 223.45.

Stocks of large financial companies, such as Bank of American and Goldman Sachs, have taken a pounding Friday over a likely lawsuit concerning mortgage sales.

Some of the nation's largest banks are under threat of a mortgage lawsuit from the federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac.

The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.

The Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.

The regulator for Fannie Mae and Freddie Mac, as well as dozens of investors, on Tuesday lodged objections to Bank of America Corp's proposed $8.5 billion mortgage-backed securities settlement.

Bank of America Corp's mortgage practices came under fresh fire as state and federal regulators questioned whether the largest U.S. bank is doing what it must to address perceived harm to homeowners and investors.

The Obama administration is considering plans to allow millions of homeowners with government-backed mortgages to refinance at current interest rates.

Central bankers and economists from around the globe will once again flock to the Federal Reserve's annual gathering in Wyoming this week, and once again will meet against the backdrop of volatile markets and the prospect of further Fed support for a struggling U.S. economy.

Housing bonds that are backed by Fannie Mae, Freddie Mac, or Ginnie Mae will all be adjusted.

In the municipal market, the downgrade will likely affect credits directly supported by federal aid and credits that rely on federal support streams for part of total revenues.

It took S&P until Monday to downgrade Fannie Mae ? years after the troubled federal housing agency doled out thousands of loans to deadbeats who never had the ability to repay them.

Mortgage giant Freddie Mac is seeking a $1.5 billion dollar bailout after announcing a $4.59 billion dollar loss in the most recent quarter.

The Dow Jones Industrial Average was rocked by investor fear on Monday, dropping 634 points during trading.

Gold notched a new high on Monday as investors ran to the precious metal for safety amid collapsing stock markets.

Call it downgradeageddon, the fear sending U.S. markets sharply lower.

The Dow lost four percent in trading mid-day Monday, while the Nasdaq and S&P lost five percent. President Barack Obama addressed downgrade Monday, but the markets dropped further after his comments.

The stock market today show sharp drops, following a downgrade by S&P from a stellar AAA to AA+, including all sectors in the S&P 500. On the other hand, investors are rushing into buying bonds rather than stock.

The U.S. downgrade drama heated up Monday, as stock markets domestically and abroad plunged. The end of the story hasn't been told, yet. But how it ends lies in the hand of the leading character -- U.S. President Barack Obama.

Shares of major gold mining companies notched fresh gains in midday trading Monday as the price of the precious metal topped $1,700 per ounce.