In an attempt to answer the first of many questions about how it would carry out the government’s $700 billion rescue plan, the Treasury Department posted solicitations yesterday for financial agents to help implement the Troubled Assets Relief Program (TARP) authorized under the Emergency Economic Stabilization Act (EESA), which was signed into law by President Bush late last Friday.

The Federal Reserve has negotiated a temporary agreement between Wachovia and its suitors, Citigroup and Wells Fargo, to cease all formal litigation activities. The standstill pact is effective only until noon on Wednesday, October 8, unless otherwise extended by all parties involved, and also calls for the banks to desist from formal discovery activities.

The Federal Deposit Insurance Corporation (FDIC) announced today that it intends to double the rates banks pay for deposit insurance. The fee hike is part of the agency’s proposed restoration plan to replenish its insurance fund.

California-based Mavent Inc., a leading provider of automated regulatory compliance solutions to the mortgage industry, recently announced that StoneWater Mortgage Corp., a national mortgage banker, will begin implementing Mavent technology to help them insure that their loans comply with all loan regulations.

LandAmerica Financial Group Inc., a leading provider of real estate transaction services, announced last week that in a move to transform its collection of independent business into an integrated and unified operating company, United Title Company will now do business as LandAmerica Title Company.

The Mortgage Bankers Association recently applauded the Securities and Exchange Commission and the Financial Accounting Standards Board for permitting the use of discounted cash flow fair value measurements under FAS 157 when no active market for a security exists.

Safeguard Properties, a privately held field services company located in Cleveland, Ohio, announced that they have added an additional contact number to the door hanger’ notices they place on the doors of delinquent borrowers on the 45th day of delinquency and continuing monthly through the delinquency and foreclosure process.

LOGS Network, a centrally managed organization of attorneys, trustees, title personnel, and collection staff representing the mortgage servicing and consumer credit industries, has announced a new managing partner for its network law firm in the state of New Jersey.

Mortgage lending giants Fannie Mae and Freddie Mac would qualify to sell bad mortgage assets to the federal government under the Emergency Economic Stabilization Act of 2008 (EESA), signed into law last Friday.

Bank of America today announced the creation of a home retention program to modify troubled mortgages for nearly 400,000 Countrywide customers nationwide. The program, which represents one of the largest predatory lending settlements in the United States, will provide up to $8.4 billion in interest rate and principal reductions for Countrywide borrowers who financed their homes with subprime or pay option adjustable rate mortgages (ARMs).