Orlando Sentinel - "Foreclosures and the art of the short sale" (9-21-07)

"Robert Orsolits is a guy you want to be nice to. Especially if you're one of the thousands of local homeowners failing to make your monthly mortgage payment. Orsolits is the president of Bank Owned Services, a foreclosure and bank-owned asset and real estate management company."

Bloomberg - "HSBC to Close U.S. Subprime Mortgage Unit, Cut Jobs" (9-21-07)

"HSBC Holdings Plc, Europe's biggest bank, said it will close its Decision One subprime mortgage unit in the U.S., eliminating 750 jobs. Employees in Fort Mill, South Carolina, Phoenix and Charlotte, North Carolina, will be affected, London-based HSBC said in a statement today."

Orlando Sentinel - "Will housing bubble rise again?" (9-21-07)

"Downtown Orlando developer Cameron Kuhn, who built a portfolio worth more than $100 million just as the nation's housing bubble was inflating and peaking, said Thursday he expects another bubble before the market stalls and falls again."

The San Diego Union Tribune - "Portfolios of Fannie, Freddie, may grow" (9-21-07)

"The Bush administration, bracing for a tidal wave of home foreclosures by people with subprime mortgages, is softening its opposition to Democratic proposals to expand the giant government-sponsored mortgage finance companies. In a chilling assessment yesterday, Housing and Urban Development Secretary Alphonso Jackson told the House Financial Services Committee that about 500,000 homeowners – one-quarter of the 2 million who have subprime mortgages scheduled to reset to higher interest rates over the next 18 months – were likely to lose their houses."

Real Estate Journal - "Bush Wants to Expand Mortgage Disclosures" (9-21-07)

"As President Bush seeks ways to respond to the subprime-mortgage meltdown, his administration is readying a plan that would help borrowers better understand the costs and fees associated with buying a home. The twist: It proposed and shelved a similar plan three years ago."

Bloomberg - "Ross to Buy American Home Unit, Expand in Mortgages" (9-21-07)

"Wilbur L. Ross Jr., who became a billionaire by investing in bankrupt steel companies, offered to pay at least $435 million for a unit of American Home Mortgage Investment Corp. and said he plans to 'get into all aspects of the mortgage industry.' Ross formed AH Mortgage Acquisition Co. to buy the servicing unit of bankrupt American Home that collects payments and maintains escrow accounts for about $57 billion in home loans. To complete the purchase, he must first win a court-sanctioned auction for the unit next month."