Market Watch - "House panel to examine predatory lending in subprime market" (2-28-07)

"Reacting to increased foreclosures of mortgages in the subprime market, a subcommittee of the House Financial Services Committee will hold a hearing next Tuesday to examine possible predatory lending practices, Rep. Carolyn Maloney, D-N.Y., announced Wednesday."

Yahoo! - "UPDATE 2-Subprime lender Fremont delays results,shares sink" (2-28-07)

"Fremont General Corp., one of the largest U.S. mortgage lenders for people with poor credit histories, said on Tuesday it will delay releasing fourth-quarter results, and not file its 2006 annual report by the March 1 deadline."

Ventura County Star - "Realtors predict better year: County's median house price continues to decrease; is now at $664,400" (2-28-07)

"The county's median price for existing single-family homes was $664,400 in January, down 2.6 percent from the same month last year and 1 percent from $670,830 in December, the California Association of Realtors reported. The median is the point at which half the homes sell for more and half for less."


KCRA3 - "Homeowners Pinched By Adjustable Mortgages: 7,000 Sacramento County Foreclosures In 2006" (2-28-07)

"With interest rates on the rise and the real estate market in a slump, adjustable mortgage rates are skyrocketing, and the high cost of low interest is turning the American dream into a nightmare for some."

CAR - "C.A.R. sponsors legislation to protect Californians from private transfer taxes that cost home buyers thousands and negatively impact affordability" (2-28-07)

"Because of a loophole in existing law, developers can impose private transfer taxes on unsuspecting home buyers. The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today announced it will sponsor SB 670 (Correa), “Private Transfer Tax Prohibition,” to eliminate this unfair tax on Californians."