Congressional leaders have announced that negotiations between House and Senate officials over the terms of the economic stimulus package have led to a sooner-than-expected compromise. The new bill, now pared down to $789 billion, will be put to the House for a final vote on Thursday, sent to the full Senate on Friday, and make it to President Obama’s desk for his signature by President’s Day next Monday, government officials said.

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 6, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 600.

Treasury Secretary Timothy Geithner laid out the new administration’s highly-anticipated blueprint for the nation’s economic recovery Tuesday morning in Washington. In his remarks, Geithner said, The financial system is working against recovery, and that’s the dangerous dynamic we need to change.

On Wednesday, February 11, Queen Latifah will kick off the Bringing Hope Home bus tour of Newark, New Jersey, to promote foreclosure prevention in the New England community. The Golden Globe and Grammy award winner and Oscar nominee will be joined by multi-platinum recording artist and actor Wyclef Jean and New York/New Jersey radio personality and actress Angie Martinez.

First American Information and Outsourcing Solutions, a member of The First American Corporation family of companies, announced today that Sandy Hildreth has joined the management team as VP of REO Westlake Operations for the segment’s Outsourcing and Technology Solutions business line.

Chicago-based Performance Trust Investment Advisors, LLC, a banking and investment advisory firm, has created a virtual forum at a new Web site (marktomarketdebate.com) to help the financial sector and the public better understand how fair value standards, also known as mark-to-market, and related accounting and bank regulatory rules impact bank lending.

The U.S. Senate voted 61-to-37 to approve an $838 billion stimulus package on Tuesday. Dissension over the bill fell largely along party lines. Next come negotiations with the House, who approved their own version of the stimulus in late January, with an $820 billion price tag.

On Monday, U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced the approval of the state of Oklahoma’s plan to use its $29,969,459 allocation under HUD’s new Neighborhood Stabilization Program (NSP).

Treasury Secretary Timothy Geithner is expected to lay out the new administration’s comprehensive Financial Stability and Recovery Plan on Tuesday, detailing how the government will use the remainder of the $700 billion bailout money, as well as additional programs it hopes will kick-start the U.

New legislation has been introduced to the U.S. Senate that would prevent financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities.