AP - Lawmakers on Tuesday proposed tightening oversight of Wall Street’s credit rating agencies as regulators move to reshape supervision of the industry widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities. More Info…

AP - The state Court of Appeals ruled Tuesday against Wal-Mart Stores Inc. and its efforts to get a $33 million tax refund, upholding a trial judge’s ruling that found a complex corporate structure was used primarily to avoid corporate income taxes. More Info…

AFP - US housing construction starts and permits slumped to fresh lows in April, government data showed Tuesday, but analysts saw a ray of hope in a rebound in the key single-family home sector.

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AP - Beazer Mortgage Corp., which ceased operations more than a year ago, will refund $2.5 million to more than a thousand borrowers in North Carolina as part of a settlement over claims the Atlanta-based company violated state lending laws, state banking and company officials said Tuesday. More Info…

AP - Lawmakers on Tuesday proposed tightening oversight of Wall Street’s credit rating agencies as regulators move to reshape supervision of the industry widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities. More Info…

Reuters - The Dow and S&P 500 slipped on Tuesday as financial shares sank and on disappointing housing data, but the Nasdaq rose as investors snapped up technology shares ahead of results from Hewlett Packard .

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Reuters - Stocks are likely to hit more speed bumps this week as investors become more wary of Wall Street’s ability to rally further and housing starts, jobless claims and other indicators are in the spotlight.

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AP - The state Court of Appeals ruled Tuesday against Wal-Mart Stores Inc. and its efforts to get a $33 million tax refund, upholding a trial judge’s ruling that found a complex corporate structure was used primarily to avoid corporate income taxes. More Info…

AP - President Barack Obama said homeowners facing foreclosure would have a second chance under a measure he signed into law on Wednesday, but he added consumers still must live within their means.

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AP - Beazer Mortgage Corp., which ceased operations more than a year ago, will refund $2.5 million to more than a thousand borrowers in North Carolina as part of a settlement over claims the Atlanta-based company violated state lending laws, state banking and company officials said Tuesday. More Info…

Reuters - U.S. housing starts and permits fell to record lows in April, weighed down by a slump in multifamily units, according to data on Tuesday that still hinted the U.S. recession may be drawing to a close.

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AP - The state Court of Appeals ruled Tuesday against Wal-Mart Stores Inc. and its efforts to get a $33 million tax refund, upholding a trial judge’s ruling that found a complex corporate structure was used primarily to avoid corporate income taxes.

Mixed US housing construction data hints at recovery (AFP)

AFP - US housing construction starts and permits slumped to fresh lows in April, government data showed Tuesday, but analysts saw a ray of hope in a rebound in the key single-family home sector.

AP - The state Court of Appeals ruled Tuesday against Wal-Mart Stores Inc. and its efforts to get a $33 million tax refund, upholding a trial judge’s ruling that found a complex corporate structure was used primarily to avoid corporate income taxes. More Info…

Reuters - A money manager owned by Canada’s Manulife Financial Corp is seeking to fire one of the largest subprime mortgage companies in the United States, claiming that Carrington Mortgage Services is unfairly tarnishing some bonds. More Info…

AP - A record low in housing construction has investors doubting the economy again.

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AFP - US housing construction starts and permits slumped to fresh lows in April, government data showed Tuesday, but analysts saw a ray of hope in a rebound in the key single-family home sector.

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AP - Treasurys finished mixed Tuesday along with stocks after new home construction dropped to the lowest pace on record. More Info…

AP - The state Court of Appeals ruled Tuesday against Wal-Mart Stores Inc. and its efforts to get a $33 million tax refund, upholding a trial judge’s ruling that found a complex corporate structure was used primarily to avoid corporate income taxes. More Info…

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.

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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.

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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.

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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…