Mortgage Bankers Association - "Lenders Technology Corp. Circulates Draft RFP for National Database to Track Fraud Against Mortgage Lenders" (3-31-08)

"Lender Technologies Corporation (LTC), a wholly owned subsidiary of the Mortgage Bankers Association (MBA), today circulated a draft Request for Proposal (RFP) regarding the creation of a national database to help prevent and detect mortgage fraud."

Mortgage Bankers Association - "Treasury Releases Blueprint for Stronger Regulatory Structure" (3-31-08)

"The U.S. Treasury Department released its Blueprint for an improved financial regulatory structure, one that strengthens consumer protections, improves tools for market stability and enhances financial innovation. Treasury's Blueprint for a Modernized Financial Regulatory Structure presents a series of short-, intermediate- and long-term recommendations for reform of the U.S. regulatory structure. The Blueprint, announced in June 2007, is a key part of Treasury Secretary Henry M. Paulson Jr.'s efforts to improve the competitiveness of the U.S. capital markets in the increasingly global marketplace."

The San Diego Union Tribune - "Homeowners suing agent over high purchase price" (3-31-08)

"Anyone who bought a home near the peak of the once-sizzling real estate market no doubt has found it painful to watch prices tumble with no end in sight. But in the case of one North County couple, it's not the volatile market they blame but their real estate agent, who they say duped them into overpaying."

Yahoo - "Hud Chief Resigns Amid Criminal Probe" (3-31-08)

"HUD Secretary Alphonso Jackson, his tenure tarnished by allegations of political favoritism and a criminal investigation, announced his resignation Monday amid the wreckage of the national housing crisis. He leaves behind a trail of unanswered questions about whether he tilted the Department of Housing and Urban Development toward Republican contractors and cronies.
The move comes at a shaky time for the economy, with soaring mortgage foreclosures imperiling the nation's credit markets."

Bloomberg - "Dollar Heads for Biggest Quarterly Loss Against Euro Since 2004" (3-31-08)

"The dollar was at $1.5797 per euro by 7:30 a.m. in New York, from $1.5796 on March 28, after earlier slipping to $1.5834. The European common currency has gained 8.2 percent this quarter, the most since December 2004. The euro may rise to $1.64, before declining to around $1.40 once the 15-nation economy slows and the ECB reduces interest rates, Jen predicted."

Bloomberg - "Obama Blasts Countrywide Over Bonuses, Housing Crisis" (3-31-08)

"Democratic presidential candidate Barack Obama called Countrywide Financial Corp., the biggest U.S. mortgage company, an example of what's wrong in today's economy and a political culture dominated by corporate lobbyists. Obama, campaigning in Pennsylvania, criticized Countrywide for its role in the subprime mortgage crisis and denounced the millions of dollars the company's top executives will receive even as workers lose pensions and homeowners are forced to sell."

Orange County Register - "O.C. fixed-rate home buys near 6-year high" (3-31-08)

"Looking back at DataQuick’s latest monthly report, I discovered a hint of a little mortgage sanity returning. Just see how the admittedly small group of buyers in O.C. are financing their deals. In the first two months of this year, slightly more than 70% of the buyers who financed deals used fixed-rate mortgages."

Orange County Register - "Are banks next?" (3-31-08)

"As the credit crunch and housing slump roll on, some experts say traditional banks and thrifts could be next to fail. It’s been more than a dozen years since a bank failed in Orange County — that’s not counting lenders like New Century Financial of Irvine, which never took deposits from consumers."

Orange County Register - "Mortgage oversight changes proposed by Bush Administration" (3-31-08)

"Treasury Secretary Henry Paulson today unveiled a sweeping plan to overhaul the nation’s regulation of financial markets, including home lending. He proposes scrapping the Depression-era charter for thrifts and closing the Office of Thrift Supervision."

Real Estate Journal - "FHA May Aid Those'Underwater' on Loans" (3-31-08)

"The Bush administration is considering regulatory changes to aid homeowners who owe more money on their mortgages than their homes are worth, people familiar with the proposal said.
The Department of Housing and Urban Development plan would enable homeowners who are 'underwater' on their mortgages to qualify for a partial backstop through HUD's Federal Housing Administration, these people said."