Bank of America Corp. issued a statement indicating it would acquire Merrill Lynch & Co. Inc. The deal is a $50 billion all-stock transaction. Lehman Brothers Holdings Inc. intends to file a petition under Chapter 11 of the U.S. Bankruptcy Code, an announcement said. The Federal housing Finance Board issued a statement indicating that Fannie Mae's former chief executive officer and Freddie's former CEO and chairman will not be paid "golden parachute" payments as required under their contracts.
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Welcome to Mortgage-Lending-News.Com. The United States Mortgage Industry is at a crossroads. Hundreds of billions in loans and real estate valuations have been lost due to the sub-prime mortgage crisis. Even worse, billions more are at risk during the first half of 2008, as even more adjustable rate mortgages reset their rates. Hardly a day goes by that we don't hear of a foreclosure crisis in the news. Quite simply, there is too much news for us to keep up with, so we built this Mortgage site, initially as a means for us to internally follow what is going on in the mortgage industry. Now, we are sharing it with you.
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