The FHA Mortgage Loan Company reports the latest government news that impacts the mortgage, business and financial sectors.

FDIC stepped in and took over Home Construction giant, Indy Mac. The stock shares had been plummeting for weeks upon the news that the Fed may have to intervene.

After the Bank of China said it lowered its portfolio of securities issued or guaranteed by the mortgage financiers by about 25% since the end of June and the shares of Fannie Mae and Freddie Mac fell significantly. Many analysts predict that both mortgage companies will be taken over by the U.S. government by 2009.

FHA issued new credit score requirements with risk based insurance policy guidelines. Most mortgage lenders seem optimistic about the news.