AP - The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.

More Info…

I separate my paper and plastics. I take the train to work instead of driving, and I’m definitely going to buy a bunch of those screwy lightbulbs one of these weekends. And…well, when it comes to being green, I guess that’s about it. More Info…

AP - Bank of America Corp. completed its purchase of Countrywide Financial Corp. Tuesday, making the Charlotte-based bank the nation’s leading mortgage originator and servicer. More Info…

To get the most for your money, you need to know two things: when it’s worth paying extra and when the budget choice is good enough. Money magazine shows you how. More Info…

Reuters - Shares of Fannie Mae and Freddie Mac , the two largest providers of U.S. mortgage finance, rose after their regulator said on Tuesday that they should have adequate returns to raise capital.

More Info…

AP - Wall Street struggled to notch a gain Tuesday amid sinking oil prices, with investors still jittery about the ailing financial system and weak economy ahead of second-quarter earnings.

More Info…

AP - Gov. Mike Easley called on state lawmakers Tuesday to make up for the federal government’s inaction by approving a measure to help some struggling North Carolina homeowners by giving them more latitude to repay their debt.

AP - Bradford & Bingley PLC said Friday it is revising its plans to raise new capital after U.S. private equity fund Texas Pacific Group pulled out of its agreement to invest more than $350 million in the mortgage banker.

Bank of America completes acquisition of Countrywide (AFP)

AFP - Bank of America said Tuesday it completed its purchase of Countrywide Financial, the largest US mortgage lender that had been at the center of the country’s subprime loan crisis.

Employers use federal law to deny benefits (AP)

AP - Dying of cancer, Thomas Amschwand did everything he was told to make sure his wife would collect on the life insurance policy he had through his employer.

SEC finds shortcomings in credit raters (Reuters)
Reuters - Credit rating agencies did not properly manage their conflicts of interests when assigning ratings to structured products such as mortgage-backed securities, a report by the U.S. Securities and Exchange Commission said on Tuesday.

How online videos can make you rich
More and more data go speeding along the information superhighway every day. Only trouble is, the roads in the U.S. are too narrow, and they’re getting clogged. Unless carrying capacity increases rapidly, Internet users will experience more and more traffic jams in the form of slower service.

Treasuries move higher on concerns about economy (AP)
AP - Treasury bonds rose Monday as investors fled the stock market amid growing concerns about the financial sector. A Federal Reserve official warned that financial companies’ problems might worsen, and a Wall Street analyst raised questions about government lenders Freddie Mac and Fannie Mae.

I’ve had many clients come to me saying they were paying their old adviser somewhere in the neighborhood of 1% a year. Arguably, that might be appropriate, especially if the adviser provided a valuable service. However, when I show them that they were paying 3% or more in total fees, they are usually stunned. More Info…

If you’re one of the lucky 30 million American workers still covered by a traditional defined-benefit pension plan, you’ll likely be faced with a crucial and irrevocable decision when you retire: should you take your pension in the form of a guaranteed monthly check for life or should you grab all of your pension money up front and manage the funds yourself? The vast majority of retirees choose the lump sum - 90% of them, according to the Society of Actuaries. Before you join them, consider the risks. More Info…

A tracer firm says it’s found $14,000 in lost assets for us. Do I pay them the fee they want, or do I even trust them? More Info…

Reports on 380 home markets across the country. See latest prices, forecasts, and other key stats. More Info…

AP - Shares of mortgage financiers Fannie Mae and Freddie Mac stabilized Tuesday, a day after plunging over worries the pair might need billions of dollars in new capital if a new accounting rule is put into effect.

A fee for finding lost money
A tracer firm says it’s found $14,000 in lost assets for us. Do I pay them the fee they want, or do I even trust them?

I’ve had many clients come to me saying they were paying their old adviser somewhere in the neighborhood of 1% a year. Arguably, that might be appropriate, especially if the adviser provided a valuable service. However, when I show them that they were paying 3% or more in total fees, they are usually stunned.

Invest to win 2007
Money Magazine’s new list of best mutual funds. Plus: 5 perfect money makeovers.

Fannie, Freddie shares gain after OFHEO comments (Reuters)

Reuters - Shares of Fannie Mae and Freddie Mac , the two largest providers of U.S. mortgage finance, rose after their regulator said on Tuesday that they should have adequate returns to raise capital.

Stocks rise modestly on oil decline, Bernanke talk (AP)

AP - Wall Street struggled to notch a gain Tuesday amid sinking oil prices, with investors still jittery about the ailing financial system and weak economy ahead of second-quarter earnings.