MSN - "A little 'magic' won't fix debt insurers" (2-25-08)

"Lately, there's been no shortage of chatter about one particular casualty of the credit bubble, the monoline insurers. As the news goes, they'll be split up into bad company/good company entities, and this "magic wand" will save the day."

Orange County Register - "Troubled homeowners seek help" (2-25-08)

"Mortgage lenders, including Countrywide Financial and Citibank, also met individually with struggling homeowners to negotiate loan modifications. While the seminars organized by Rep. Loretta Sanchez, D-Garden Grove, have been going on for months, attendance has been increasing with continued fallout from the subprime crisis, falling home prices and a slowing economy."

NAHB - "Fee Hike on Home Borrowers Highlights Need for GSE Reform" (2-25-08)

"Forcing buyers to pay more money for a home when the market is struggling to regain its footing is counterproductive and goes against Freddie’s housing mission to help more borrowers to become home owners."

NAR - "Existing-Homes Sales Slip in January as Some Potential Buyers Wait on Sidelines" (2-25-08)

"Existing-home sales – including single-family, townhomes, condominiums and co-ops – slipped 0.4 percent to a seasonally adjusted annual rate(1) of 4.89 million units in January from an upwardly revised level of 4.91 million in December, and are 23.4 percent below the 6.44 million-unit pace in January 2007."

CAR - "C.A.R. reports sales decrease 29.8 percent, median home price falls 21.9 percent" (2-25-08)

"Home sales decreased 29.8 percent in January in California compared with the same period a year ago, while the median price of an existing home fell 21.9 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today."

NAR - "Realtors® Hope to Improve State of Minority Homeownership" (2-25-08)

"'Homeownership is part of the American dream,' said 2008 NAR President-elect Charles McMillan. 'As the nation’s leading advocate for housing issues, NAR is committed to removing disparities in homeownership and making the face of homeownership in this country look more like America.'"

Reuters - "RPT-Seldom-read US home loan docs must change- experts" (2-25-08)

"The papers that U.S. borrowers sign when buying a house are piled so high that few people read them all, and even fewer absorb the information. While no one blames the subprime crisis on complex documentation, some people now losing their homes as adjustable rate mortgages rise might not be in such dire straits if they had fully understood their loan, experts say."

CBS - "Congress To Grill Mortgage Executives" (2-25-08)

"Congress is set to examine another round of possible repairs for consumers and investors threatened by widening cracks in the housing market. Proposals include easing bankruptcy rules, shielding banks from lawsuits and providing government assistance to homeowners facing foreclosure."

Bloomberg - "Orix May Slow Tokyo Property Buying on Subprime Rout" (2-25-08)

"Orix Corp.'s real estate unit will invest more 'selectively' when adding to its 998 billion yen ($9.3 billion) of assets after the collapse of the U.S. subprime market curbed credit, undermining property prices worldwide. International banks have booked $163 billion of losses and writedowns following defaults on loans to homebuyers with poor credit histories, crimping the ability of investors to borrow to buy real estate. Growth in Japan's property market may also slow after housing starts fell for a sixth month in December because stricter rules on building approvals delayed projects."

Los Angeles Times - "Foreclosed: How big is the discount?" (2-25-08)

"How deep is the discount on foreclosed houses right now? I ran some numbers on six houses and found discounts ranging from 16.6% to 41%. You can see the houses, with listing descriptions and listing prices, here. What do I mean by discount? The decline from peak sales price to current asking price. I know, I know, most of these things sell for below the ask. So the "discount" will ultimately be greater. But this is a starting point, a way to provide information about current listings in relation to past sales prices."

Real Estate Journal - "Sell, Rent Out or Improve? Tough Real-Estate Questions" (2-25-08)

"Renting is not for the faint of heart. You've got to be tough because unless you find a wonderful tenant people are going to take advantage of you with late payments, then with missed payments and all kinds of believable excuses. Been there, done that, and it is tougher today than it has ever been. Besides, all the good tenants are now homeowners, thanks to the wild and wooly mortgage market during the early part of the decade."