AP - As the housing market crumbles, homeowners are worried about mortgage payments and sellers are worried about slumping prices — but the companies that insure their loans are worrying about their very survival in the face of billions of dollars in claims.

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AP - A falling dollar boosted U.S. exports to record highs, pushing the trade deficit down to its lowest level in 28 months.

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AP - Several of the nation’s leading banks warned Friday the subprime lending crisis will contribute to another round of losses in the fourth quarter, a sign that fallout from the housing and mortgage-lending slump is spreading deeper into the nation’s credit markets.

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Reuters - Countrywide , the largest U.S.
mortgage lender, said in a U.S. regulatory filing on Friday,
that if its credit rating dropped below its current lowest
rating, this would “severely,” limit its access to the public
corporate debt market and that could have repercussions on its
business.
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AFP - The slipping US economy and plunging bourses appeared to infect the market for multi-million dollar paintings, as major works including a Van Gogh went unsold at auctions here this week.

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Reuters - Fannie Mae , the largest U.S.
mortgage finance company, said on Friday its third-quarter net
loss doubled from last year as slumping home prices and a
credit squeeze drove down values of mortgage securities.

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AP - Fannie Mae’s third-quarter loss more than doubled to $1.4 billion, the mortgage finance company said Friday, while forecasting industry troubles through 2008 because of mounting home loan delinquencies.
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Reuters - The credit crisis deepened on Friday
as Wachovia Corp reported a potential $1.7 billion loss
on mortgage-related debt, while credit card company Capital One
Financial Corp said more customers are missing
payments.

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Reuters - Mortgage finance company Fannie Mae
expects to see its home loan loss rate double in 2008
compared to this year, the company’s chief executive said on
Friday.

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Reuters - Consumer sentiment tumbled in early
November to its lowest since the grim aftermath of Hurricane
Katrina, overshadowing a favorable report on Friday that
booming exports trimmed the trade deficit to its slimmest since
May 2005.

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