AFP - Standard & Poor’s downgraded mortgage giants Fannie Mae and Freddie Mac from triple-A to AA+ Monday, citing their direct reliance on the US government, which it downgraded last Friday.

AFP - The semi-public mortgage financing giant Fannie Mae said Friday it would seek an additional $5.1 billion from the US government, following a steep quarterly loss.

AFP - The International Monetary Fund on Monday maintained its growth forecasts for Britain but warned of risks from the eurozone debt crisis, spending cuts, volatile commodity prices and a weak housing market.

AFP - A US housing regulator filed a $900 million lawsuit against Swiss bank UBS on Wednesday over risky mortgage-backed securities it sold to mortgage giants Fannie Mae and Freddie Mac.

AFP - The big US banks showed signs of resilience in their second-quarter earnings, but the sluggish economy and fallout from the subprime mortgage debacle weighed on profits.

AFP - Sales of previously owned US homes dropped in June for the third straight month amid an unexpected spike in contract cancellations, an industry group said Wednesday.

AFP - South Korea’s Samsung Electronics launched a new version of its Galaxy Tab in its home market Wednesday in a bid to lure consumers away from Apple’s iPad.

AFP - British house prices rose by 1.2 percent in June from the level in May, data from a major home-loans provider showed on Wednesday.

AFP - A group of bond-holders on Tuesday challenged Bank of America’s record $8.5 billion settlement for losses on mortgage-backed securities, clouding its efforts to move past the subprime mortgage mess.

AFP - Bank of America said Wednesday it would set aside a massive $14 billion to settle claims from angry investors for losses on dodgy mortgage-backed securities in the country’s housing collapse.