The collapse of the subprime-mortgage market has turned into a legal free-for-all not seen in the financial-services industry since the savings-and-loan crisis.

WASHINGTON (Reuters) - U.S. home foreclosures hit a record late last year amid a shakedown in the subprime mortgage market that is taking its toll on the broader economy, and the net wealth of U.S. households fell for the first time in five years, data on Thursday showed.

-- State regulators and cities that have filed cases or disclosed investigations targeting Wall Street firms' roles in the subprime mortgage market:

NEW YORK -- The collapse of the subprime mortgage market and ensuing credit crisis have claimed their latest casualty: the longest serving chief executive at any of the big Wall Street investment banks.

Los Angeles -- California Gov. Arnold Schwarzenegger has cracked a deal with four of the state's largest mortgage lenders to reduce the home loan default rate caused by the subprime mortgage market collapse, The Financial Times reports.

In the midst of a sharp rise nationally in foreclosures in the subprime mortgage market, a number of government agencies and nonprofit groups are combining efforts to help Alaskans keep possession of their homes.

What could the collapse in the subprime mortgage market possibly have to do with whether Dr. Jeffrey and Madeline Stier get full price for their four-bedroom house in the wealthy New York City suburb of Larchmont?

What could the collapse in the subprime mortgage market possibly have to do with whether Dr. Jeffrey and Madeline Stier get full price for their four-bedroom house in the wealthy New York City suburb of Larchmont?

It's becoming much harder to get a mortgage because of problems with the so-called subprime mortgage market. More than half of all banks in a Federal Reserve survey say they have tightened their lending standards.

As foreclosures are increasing, it's becoming much harder to get a mortgage. More than half of all banks in a Federal Reserve survey say they have tightened their lending standards in the subprime mortgage market — it's affecting even those with good credit. CBS News Interactive: Eye On The Economy