Reuters - E*Trade Financial Corp , the U.S. discount brokerage hardest hit by the mortgage market meltdown, reported a steep loss from continuing operations in the third quarter as it boosted by nearly $200 million the amount set aside to cover loan losses.

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Reuters - Top Republicans in the U.S. House of Representatives on Tuesday called for the appointment of a special counsel to investigate "fraud and mismanagement" at troubled mortgage giants Fannie Mae and Freddie Mac.

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AP - National City Corp. on Tuesday reported a third-quarter loss and said it will cut 4,000 jobs, as the regional bank continues to struggle amid the ongoing downturn in the mortgage and credit markets.

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Reuters - The regulator of Fannie Mae and Freddie Mac said the federal government is trying to help the two housing finance providers sell debt on better terms, The Wall Street Journal reported on Tuesday.

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Reuters - National City Corp, a U.S. Midwest regional bank hard hit by the credit crisis, on Tuesday announced plans to slash 4,000 jobs and said rising reserves for soured mortgage and real estate construction loans led to its fifth straight quarterly loss.

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