Householders borrowing record amounts against their property - 2004-01-02
British households are borrowing a record amount against the value of their homes inorder to purchase other items such as cars, electrical goods and foreign holidays, according to figures released yesterday.

The Bank of England said that mortgage equity withdrawal - defined as borrowing which is not used to purchase or improve properties - rose to a record £13.4bn in the third quarter of last year
Read the full story at Independent

U.S. HUD terminates loan incentives for Fannie, Freddie - 2004-01-02
A U.S. government regulator this week terminated an incentive program that encouraged Fannie Mae and Freddie Mac to acquire mortgages on small apartment buildings, a move that could cause the mortgage buyers problems in meeting affordable housing goals.

The Department of Housing and Urban Department (HUD) said it decided to end the bonus point system because it could overstate how well the two biggest buyers of U.S. mortgages meet their affordable housing goals.
Read the full story at Reuters