Investment management firm AllianceBernstein is moving into direct real estate and is hiring two senior experts to manage its presence in commercial property investments.

As the government'S Financial Crisis Inquiry Commission began its controversial, hazardous work Thursday, its chairman vowed to shed light on the recession'S causes and warned select companies not to get rid of any paperwork from the early days of the downturn.

The FDIC announced this week that it is releasing a free tool kit of information that will help borrowers, community stakeholders, and the banking industry avoid unnecessary foreclosures and stop foreclosure rescue scams that promise false hope to consumers at risk of losing their homes.

Fannie Mae's president and CEO Mike Williams has appointed Terry Edwards to serve as the company's new EVP of credit portfolio management.

Two leading mortgage insurers are optimistic about their business as the U.S. housing market shows signs of revival.

Effective immediately, the Federal Reserve will start scrutinizing a class of bank subsidiaries that includes subprime lenders, determining whether they comply with all the government agency's consumer-protection rules and investigating customer complaints.

Oak Hill Advisors, an investment management firm specializing in high yield and distressed debt, announced the closing of a new fund for distressed assets at $1.125 billion, even as the firm's president suggested the current downturn may not be as deep as anticipated.

Stephen M. Ross, the famed real estate mogul and proprietor of the NFL's Miami Dolphins, has been given the green light by federal regulators for a bank charter.

Glastonbury, Connecticut's The National Groups, the parent company of the National Default Servicing, LLC suite of mortgage service operations, will be presenting a full roll out of its Modification and Short Sale Fulfillment Program at the 2009 Five Star Default Servicing Conference and Expo in Fort Worth, Texas from September 20 to 23.

The House of Representatives passed two housing measures this week designed to assist certain borrowers of Federal Housing Administration loans, earning kudos from some of the nation's largest trade groups in the mortgage and housing industries.