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Financial stocks finished lower Tuesday in a volatile session in which Washington Mutual(WM) skyrocketed and battered mortgage giants Fannie Mae(FNM) and Freddie Mac(FRE) continued to take their lumps.
The government-sponsored mortgage giants were once again a focal point of the market, as Fannie Mae collapsed nearly 30% at one point in trading and Freddie Mac [...]

NEW YORK (Fortune) — They own or guarantee $5 trillion worth of mortgages­ - nearly half of all the country’s outstanding home loan debt - and they’re crashing. But not everybody is convinced they should be.
Fannie Mae and Freddie Mac are struggling with an investor loss of confidence so great that, while they’re unlikely [...]

One of America’s largest mortgage lenders has collapsed, as the credit crisis grows.
IndyMac Bank is the second largest financial institution to fail in US history.
Regulators feared the California-based bank did not have enough cash to cope after panicked investors withdrew more than $1.3bn in 11 days and seized its assets.
The business will reopen on Monday [...]

HONG KONG (Reuters) - The U.S. government is considering taking over Fannie Mae and Freddie Mac if their funding problems worsen, the New York Times said on Friday, causing shares of the mortgage finance companies to plunge.
Shares of Fannie fell 27 percent to $9.66 in pre-market trading, while shares of Freddie fell 35 percent to [...]