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By Dina ElBoghdady

Three federal agencies announced agreements with the nation's largest mortgage servicers Wednesday that aim to stem shoddy foreclosure practices. But the plans do not immediately impose financial penalties on the companies or force them to reduce the mortgage debt for troubled borrowers.

By Lorraine Woellert

The 14 largest U.S. mortgage servicers must pay back homeowners for losses from foreclosures or loans that were mishandled in the wake of the housing collapse, the first of a set of sanctions regulators are seeking against the companies.

Congresswoman Maxine Waters (D-Calif.), a senior member of the Financial Services Committee, released the following statement today:

Congresswoman Maxine Waters (D-Calif.) issued the following statement today, congratulating the California Science Center in Los Angeles on its selection as one of four institutions nationwide to receive a NASA spacecraft.

by Josh Grossberg

Even though a last-minute deal staved off a federal government shutdown the night before, thousands of people came to a park near Inglewood on Saturday to warn their elected officials not to cut spending to programs they hold dear.

by Kaitlin Parker

Hundreds of South LA residents gathered at Jesse Owens Park today to attend a community meeting on federal budget cuts hosted by Congresswoman Maxine Waters.

By Marc H. Morial

What do American Express, Merck, Xerox, Darden Restaurants, and Citibank have in common?

Congresswoman Maxine Waters (CA-35) released the following statement today after convening a large community meeting with other elected officials, community leaders, members of the clergy, and organized labor, to bring Los Angelinos up to speed on budget cuts, negotiations, and the status of the government:

by Kitty Felde

Congress is still talking, but the clock is running down to midnight Friday when the federal government runs out of money. If lawmakers can't work out a budget agreement, "non-essential" federal workers will not show up to work starting on Saturday. Here's what'll stay open and what won't.

by Jon Prior

Members of the House Financial Services Committee want more information on how Fannie Mae and Freddie Mac contract with companies charged with managing and reselling previously foreclosed homes, known as REO.