Mortgage Bankers Association - "Fannie Mae Announces Temporary Increase to Our Conventional Loan Limits" (3-7-08)

"The purpose of this Announcement is to outline Fannie Mae’s requirements for the origination, underwriting, delivery and servicing of 'jumbo-conforming' mortgage loans. A jumbo-conforming mortgage loan is any conventional conforming mortgage loan for which the original principal balance exceeds our conforming loan limits in effect prior to the temporary increase up to the new limits set by HUD for the area in which the property is located. Unless otherwise stated in this Announcement, all requirements of Fannie Mae’s Selling Guide and Servicing Guide apply to jumbo-conforming mortgage loans."

Yahoo - "Fed Takes New Steps on Credit Crisis" (3-7-08)

"The Federal Reserve is taking bigger steps to ease the nation's credit crisis, including increasing the amount of loans it plans to make available to banks this month to $100 billion. The Federal Reserve announced Friday that it will boost the size of auctions planned for March 10 and March 24 to $50 billion each. That is up from the $30 billion limits it had previously announced. The auctions serve as short-term loans to get banks the cash they need to keep lending to their customers."

The Boston Globe - "College loans see subprime fallout" (3-7-08)

"The fallout from the subprime mortgage crisis is sending shock waves through the college loan industry in New England, limiting options for some students seeking assistance for the fall semester. Amid a deepening credit squeeze and cutbacks in federal loan subsidies, New Hampshire's nonprofit student-loan agency said this week that it will no longer offer private loans. The Massachusetts Educational Financing Authority, which lent money to 42,000 college students last year, has so far failed to secure any financing for its loans, as skittish investors shy away from taking on debt."

The San Diego Union Tribune - "Housing data bad news for economy" (3-7-08)

"Nervous homeowners and economic analysts have been wondering how much worse the housing market could get. Yesterday, they got an answer: plenty. Foreclosures are at a record high. Home equity is at a record low. The housing market is spiraling down – and taking people's sense of economic security with it."

The Washington Post - "Investors Dump Securities From Fannie, Freddie" (3-7-08)

"The prices of mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac have plunged lately as supply has grown faster than demand. That indicates that their ability to prop up the lending system has declined. Fannie Mae, based in the District, and McLean-based Freddie Mac package mortgages into securities for sale to investors, guaranteeing to pay the principal and interest if the borrowers default. That enables lenders to move mortgages off their books and replenish the funds they use to issue new mortgages."

Yahoo - "Congress panel rips lavish pay of subprime CEOs" (3-7-08)

"The stunning pay packages of executives at financial groups hammered by the U.S. mortgage crisis came in for stinging criticism from Democratic lawmakers and investor advocates at a congressional hearing on Friday."

Reuters - "RPT-Foreign buyers see U.S. property as currency play" (3-7-08)

"For over a year, U.S. real estate has offered bargains to foreign buyers as the euro or British pound gets ever more bang against the sinking buck. Now, however, a shopping mall, office building, high-rise condominium, or hotel is, to some foreign investors, a vehicle to bet on the dollar."

Orange County Register - "Orange County home prices and sales, mid-February" (3-7-08)

"For the 22 business days ended Feb. 22, 2008, sales for all types of Orange County home sales decreased 45.2 percent. The median sales price decreased 16.3 percent. The median is where half the homes sold for more and half for less. Types of homes selling, as well as home value changes, cause the median to change."

Orange County Register - "Only 4 O.C. ZIPs see home sales gains in late Feb." (3-7-08)

"Latest home-selling stats from DataQuick for 22 business days ended Feb. 22 show that only four O.C. ZIPs out of 83 with buying activity above the year-ago period: Orange 92867; Villa Park 92861; Huntington Beach 92647 and Dana Point 92624. All told, those four ZIPs had just 65 sales."

Los Angeles Times - "Bailout watch: The Republicans are coming" (3-7-08)

"News item: Republican Sen. Kit Bond of Missouri (pictured) today proposed a $10 billion-plus housing bailout plan that includes $15,000 tax credits for buyers of foreclosed homes and tax breaks for mortgage companies that have lost money recently."