Mortgage Crisis on Yahoo! News Photos

The headquarters of mortgage lender Fannie Mae is shown in Washington ...

(Reuters) — Wed, 20 Aug 2008 14:21:24 GMT

(Reuters) - The headquarters of mortgage lender Fannie Mae is shown in Washington in this file photo from October 3, 2006. (Jason Reed/Files/Reuters)

The corporate logo for Freddie Mac is seen at its headquarters ...

(Reuters) — Wed, 20 Aug 2008 14:34:17 GMT

(Reuters) - The corporate logo for Freddie Mac is seen at its headquarters building in McLean, Virginia, July 23, 2008. (Larry Downing/Reuters)

The corporate logo for Freddie Mac is seen at its headquarters ...

(Reuters) — Tue, 19 Aug 2008 05:07:43 GMT

(Reuters) - The corporate logo for Freddie Mac is seen at its headquarters building in McLean, Virginia, July 23, 2008. (Larry Downing/Reuters)

The Freddie Mac headquarters in McLean, Virginia. Investments ...

(AFP/File) — Tue, 19 Aug 2008 18:59:51 GMT

(AFP/File) - The Freddie Mac headquarters in McLean, Virginia. Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, press reports said Tuesday.(AFP/File/Paul J. Richards)

In this May 2, 2007 file photo, the Fannie Mae building in Washington ...

(AP) — Tue, 19 Aug 2008 16:54:15 GMT

(AP) - In this May 2, 2007 file photo, the Fannie Mae building in Washington is shown. Whether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality. (AP Photo/Manuel Balce Ceneta, File)

In this July 13, 2008 file photo, the Freddie Mac's corporate ...

(AP) — Tue, 19 Aug 2008 16:54:04 GMT

(AP) - In this July 13, 2008 file photo, the Freddie Mac's corporate offices are seen in McLean, Va. Whether or not the government is actually on the verge of taking over mortgage finance companies Fannie Mae and Freddie Mac, investor fears that a bailout is imminent could turn such a worst-case scenario into reality. (AP Photo/Pablo Martinez Monsivais, file)

Construction equipment clears land for new multi-family houses ...

(AFP/File) — Tue, 19 Aug 2008 14:16:14 GMT

(AFP/File) - Construction equipment clears land for new multi-family houses in Pembrook Pines, Florida. Construction of new homes in the United States plunged 11 percent in July to the lowest level in 17 years amid the worst housing slump in decades, government data has shown.(AFP/File/Robert Sullivan)

Greg Ohme works on framing a house in North Aurora, Illinois ...

(Reuters) — Tue, 19 Aug 2008 12:44:09 GMT

(Reuters) - Greg Ohme works on framing a house in North Aurora, Illinois during the worst housing slump in decades July 24, 2008. (Jeff Haynes/Reuters)

The corporate logo for Freddie Mac is seen at its headquarters ...

(Reuters) — Mon, 18 Aug 2008 15:09:17 GMT

(Reuters) - The corporate logo for Freddie Mac is seen at its headquarters building in McLean, Virginia in this July 23, 2008 file photo. (Larry Downing/Reuters)

A man walks by Fannie Mae headquarters in July 2008 in Washington, ...

(AFP/File) — Mon, 18 Aug 2008 19:47:48 GMT

(AFP/File) - A man walks by Fannie Mae headquarters in July 2008 in Washington, DC. The US Treasury swiftly played down a media report Monday that suggested the government could be poised to extend significant financial aid to the struggling mortgage-finance giants Fannie Mae and Freddie Mac.(AFP/File/Karen Bleier)

A "detour" sign is posted at the main entrance to ...

(AFP/File) — Mon, 18 Aug 2008 19:47:48 GMT

(AFP/File) - A "detour" sign is posted at the main entrance to the Freddie Mac headquarters in July 2008 in McLean, Virginia. The US Treasury swiftly played down a media report Monday that suggested the government could be poised to extend significant financial aid to the struggling mortgage-finance giants Fannie Mae and Freddie Mac.(AFP/File/Paul J. Richards)

A condominium is put up for sale in San Francisco, California ...

(Reuters) — Thu, 14 Aug 2008 23:57:10 GMT

(Reuters) - A condominium is put up for sale in San Francisco, California August 14, 2008. U.S. foreclosure activity in July rose 55 percent from a year earlier as a slump in once-sizzling housing markets forced yet more borrowers to default on their mortgages, according to a monthly report. REUTERS/Robert Galbraith (UNITED STATES)

A condominium is put up for sale in San Francisco, California ...

(Reuters) — Thu, 14 Aug 2008 23:53:26 GMT

In this April 25, 2008, pedestrians are reflected below a UBS ...

(AP) — Tue, 12 Aug 2008 12:31:43 GMT

(AP) - In this April 25, 2008, pedestrians are reflected below a UBS office building logo in New York. UBS AG, one of the hardest hit banks in the subprime mortgage crisis, said Tuesday, Aug. 12, 2008, that it had further losses and writedowns of $5.1 billion during the second quarter of 2008. (AP Photo/Mark Lennihan, file)

John Cryan, new CFO of the Swiss bank UBS, listens to a speech ...

(AP) — Tue, 12 Aug 2008 09:30:49 GMT

(AP) - John Cryan, new CFO of the Swiss bank UBS, listens to a speech during a press conference announcing the 2008 half year result in Zurich, Switzerland, Tuesday, Aug. 12, 2008. UBS AG, one of the hardest hit banks in the subprime mortgage crisis, said Tuesday that it had further losses and writedowns of US$5.1 billion during the second quarter of 2008. (AP Photo/Keystone, Steffen Schmidt)

Marcel Rohner, Chief Executive Officer of Swiss Bank UBS, speaks ...

(AP) — Tue, 12 Aug 2008 09:30:20 GMT

(AP) - Marcel Rohner, Chief Executive Officer of Swiss Bank UBS, speaks during a press conference announcing the 2008 half year result in Zurich, Switzerland, Tuesday, Aug. 12, 2008. UBS AG, one of the hardest hit banks in the subprime mortgage crisis, said Tuesday that it had further losses and writedowns of US$5.1 billion during the second quarter of 2008. (AP Photo/Keystone, Steffen Schmidt)

A Jan. 30, 2008 file photo shows the logo of Swiss Bank UBS ...

(AP) — Tue, 12 Aug 2008 07:42:00 GMT

(AP) - A Jan. 30, 2008 file photo shows the logo of Swiss Bank UBS on Zurich's Bahnhofstrasse, Switzerland. UBS AG, one of the hardest hit banks in the subprime mortgage crisis, said Tuesday, Aug. 12, 2008 that it had further losses and writedowns of US$5.1 billion during the second quarter of 2008. Switzerland's largest bank, which also announced further management changes, said its net loss attributable to shareholders for the three months ended June 30 was 358 Swiss francs (US$331 million). (AP Photo/Keystone, Walter Bieri, File)

In this file photo from March 12, 2008, dark clouds hang above ...

(AP) — Tue, 12 Aug 2008 07:41:31 GMT

(AP) - In this file photo from March 12, 2008, dark clouds hang above the Logo of the UBS (Union Bank of Switzerland) in Zurich, Switzerland. UBS AG, one of the hardest hit banks in the subprime mortgage crisis, said Tuesday, Aug. 12, 2008 that it had further losses and writedowns of US$5.1 billion during the second quarter of 2008. Switzerland's largest bank, which also announced further management changes, said its net loss attributable to shareholders for the three months ended June 30 was 358 Swiss francs (US$331 million). (AP Photo/Keystone, Alessandro Della Bella, File)

A view of Fannie Mae headquarters in Washington, DC. Struggling ...

(AFP/File) — Fri, 08 Aug 2008 21:29:46 GMT

(AFP/File) - A view of Fannie Mae headquarters in Washington, DC. Struggling mortgage finance giant Fannie Mae unveiled Friday a steeper-than-expected quarterly loss and announced dramatic measures to weather the worst US housing slump in decades.(AFP/File/Karen Bleier)

A foreclosure sign sits in front of a townhouse in Herndon, ...

(AFP/File) — Fri, 08 Aug 2008 21:29:46 GMT

(AFP/File) - A foreclosure sign sits in front of a townhouse in Herndon, Virginia. Struggling home finance giant Fannie Mae Friday reported a massive second-quarter loss of 2.3 billion dollars, more than three times analysts' estimates, and plans to slash its dividend.(AFP/File/Paul J. Richards)

A view of Fannie Mae headquarters in Washington, DC. Struggling ...

(AFP/File) — Fri, 08 Aug 2008 21:29:46 GMT

(AFP/File) - A view of Fannie Mae headquarters in Washington, DC. Struggling home finance giant Fannie Mae Friday reported a massive second-quarter loss of 2.3 billion dollars, more than three times analysts' estimates, and plans to slash its dividend.(AFP/File/Karen Bleier)

A common sight these days where auctions, bank owned homes, ...

(AP) — Fri, 08 Aug 2008 14:00:48 GMT

(AP) - A common sight these days where auctions, bank owned homes, foreclosures, and unfinished housing developments dot the housing landscape like this home Wednesday, July 30, 2008, in Phoenix. Mortgage finance company Fannie Mae swung to a second-quarter loss, Friday, Aug. 8, 2008, that was more than triple what Wall Street expected as conditions in the housing market continued to deteriorate. (AP Photo/Ross D. Franklin)

A "Foreclosure" sign in front of a townhouse in Herndon, ...

(AFP/File) — Fri, 08 Aug 2008 13:21:45 GMT

(AFP/File) - A "Foreclosure" sign in front of a townhouse in Herndon, Virginia. Struggling home finance giant Fannie Mae Friday has reported a massive second-quarter loss of 2.3 billion dollars, more than three times analysts' estimates.(AFP/File/Paul J. Richards)

A view of Fannie Mae headquarters in Washington, DC. The struggling ...

(AFP/File) — Fri, 08 Aug 2008 13:21:45 GMT

(AFP/File) - A view of Fannie Mae headquarters in Washington, DC. The struggling home finance giant has reported a massive second quarter loss of $2.3bl, more than three times analysts' estimates.(AFP/File/Karen Bleier)

People are seen walking past estate agent signs outside a row ...

(Reuters) — Fri, 08 Aug 2008 09:43:19 GMT

(Reuters) - People are seen walking past estate agent signs outside a row of houses, in south London in this May 18, 2007 file photograph. The number of homes repossessed in Britain in the first six months of the year leapt by almost 50 percent on a year ago to the highest since 1999, a survey showed on August 8, 2008, as the housing downturn claimed more victims. The Council of Mortgage Lenders said repossessions rose to 18,900 from 12,800 in the first half of last year, taking the rate of repossessions to 0.16 percent -- the highest in a decade Photograph taken May 18, 2007 REUTERS/Toby Melville/Files (BRITAIN)

People are seen walking past estate agent signs outside a row ...

(Reuters) — Fri, 08 Aug 2008 09:42:00 GMT

The corporate logo for Freddie Mac is seen at its (Larry Downing/Reuters) ...

(Reuters) — Thu, 07 Aug 2008 10:20:29 GMT

(Reuters) - The corporate logo for Freddie Mac is seen at its (Larry Downing/Reuters)

The Freddie Mac headquarters in McLean, Virginia. Troubled mortgage ...

(AFP/File) — Thu, 07 Aug 2008 02:35:08 GMT

(AFP/File) - The Freddie Mac headquarters in McLean, Virginia. Troubled mortgage finance giant Freddie Mac on Wednesday reported a market-shocking loss in the second quarter as the US housing slump deepened and slashed its dividend at least 80 percent.(AFP/File/Paul J. Richards)

People walk at Freddie Mac headquarters in McLean, Virginia. ...

(AFP/File) — Thu, 07 Aug 2008 02:35:08 GMT

(AFP/File) - People walk at Freddie Mac headquarters in McLean, Virginia. Troubled mortgage finance giant Freddie Mac on Wednesday reported a market-shocking loss in the second quarter as the US housing slump deepened and slashed its dividend at least 80 percent.(AFP/File/Paul J. Richards)

The corporate logo for Freddie Mac is seen at its headquarters ...

(Reuters) — Wed, 06 Aug 2008 10:16:56 GMT

(Reuters) - The corporate logo for Freddie Mac is seen at its headquarters building in McLean, Virginia, July 23, 2008. (Larry Downing/Reuters)

Graphic shows quarterly net income for Freddie Mac ; 1c x 4 ...

(AP) — Wed, 06 Aug 2008 20:48:34 GMT

(AP) - Graphic shows quarterly net income for Freddie Mac ; 1c x 4 1/8 inches; 46.5 mm x 104.8 mm

Graphic fact file on US housing finance giants Fannie Mae and ...

(AFP Graphic) — Wed, 06 Aug 2008 16:47:49 GMT

(AFP Graphic) - Graphic fact file on US housing finance giants Fannie Mae and Freddie Mac, which were put under Federal Reserve oversight and given bigger credit lines. Troubled mortgage finance giant Freddie Mac on Wednesday reported a market-shocking loss in the second quarter as the US housing slump deepened and slashed its dividend at least 80 percent.(AFP Graphic)

People walk by a sign for Freddie Mac headquarters in McLean, ...

(AFP/File) — Wed, 06 Aug 2008 16:47:49 GMT

(AFP/File) - People walk by a sign for Freddie Mac headquarters in McLean, Virginia, July 14. Troubled mortgage finance giant Freddie Mac has reported an 821-million-dollar net loss in the second quarter as the US housing collapse further dug a hole in the company's finances.(AFP/File/Paul J. Richards)

A sign offers a money back guarantee on the purchase of a home ...

(AP) — Wed, 06 Aug 2008 13:24:35 GMT

(AP) - A sign offers a money back guarantee on the purchase of a home for sale in Moreland Hills, Ohio on Wednesday, July 30, 2008. Freddie Mac on Wednesday posted a second-quarter loss more than three-times larger than Wall Street expected as more homeowners fell behind on their mortgages. (AP Photo/Amy Sancetta)

A common sight these days where auctions, bank owned homes, ...

(AP) — Wed, 06 Aug 2008 13:23:14 GMT

(AP) - A common sight these days where auctions, bank owned homes, foreclosures, and unfinished housing developments dot the housing landscape like this home Wednesday, July 30, 2008, in Phoenix. Freddie Mac on Wednesday, Aug. 6, posted a second-quarter loss more than three-times larger than Wall Street expected as more homeowners fell behind on their mortgages. (AP Photo/Ross D. Franklin)