A new home development is shown in Miami in this January 26, 2010 file photo. Housing-related stocks declined after data showed sales of new single-family homes fell for the first time in four months in December of 2011 and were shy of Wall Street expectations. The data followed the soft pending home sales report on January 25, 2012 and dented optimism that the housing market may have reached a bottom. REUTERS/Joe Skipper/Files (UNITED STATES - Tags: BUSINESS REAL ESTATE)

Obama administration bolsters homeowner lifeline (Reuters)

Reuters - The Obama administration, in an election-year bid to help distressed homeowners, on Friday expanded its main foreclosure prevention program, and pushed for Fannie Mae and Freddie Mac to forgive mortgage debt.

The latest developments in the real estate market.


	THIS JUST IN World stocks slide as US growth data disappoint (AP) Gingrich, Romney attack each other on foreclosures (AP) Rate on 30-year fixed mortgage rises to 3.98 pct. (AP) Mortgage rates for the past 52 weeks, at a glance (AP) Candidates unloved in FL town hit by foreclosures (AP) Bank of America extends drop in mortgage rankings (Reuters) Foreclosures account for 12 percent of La. sales (AP) 16 percent of Q3 Ill. home sales were foreclosures (AP)


	HOT REAL ESTATE NEWS Obama administration bolsters homeowner lifeline (Reuters) Subpoenas issued to financial firms in expanded probe (Reuters) Justice unit to probe mortgage-backed securities (AP) US gov't to extend and expand foreclosure program (AP) Analysis: Banks expect to spend less on bad mortgages (Reuters) D.R. Horton profit beats on higher home orders (Reuters)

Subpoenas issued to financial firms in expanded probe (Reuters) Reuters - The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday.

Justice unit to probe mortgage-backed securities (AP) AP - Federal and state law enforcement officials announced Friday they have launched a fraud-fighting unit, starting with 55 prosecutors and investigators, to root out wrongdoing in the market for residential mortgage-backed securities.

US gov't to extend and expand foreclosure program (AP) AP - The Obama administration said Friday that will expand its signature foreclosure-prevention program to try to help those with heavy debt loads avoid losing their homes.

Analysis: Banks expect to spend less on bad mortgages (Reuters) Reuters - Even as President Barack Obama is calling for more assistance for struggling mortgage borrowers, major banks are looking forward to spending less to handle problem home loans.

D.R. Horton profit beats on higher home orders (Reuters) Reuters - D.R. Horton Inc , the top U.S. homebuilder, posted a first-quarter profit that beat market expectations, helped by a surge in orders indicating a stabilizing housing market, and said it was looking at spring selling season with "cautious optimism."

World stocks slide as US growth data disappoint (AP) AP - World stocks turned lower on Friday after official data showed the U.S. economic recovery was not as fast as many had hoped.

Gingrich, Romney attack each other on foreclosures (AP) AP - Rivals Newt Gingrich and Mitt Romney are trading barbs over their income from mortgage firms Fannie Mae and Freddie Mac.