NAHB - "Housing Bills Will Help Homeowners And Economy" (4-10-08)

"The House and Senate versions contain several provisions that will help home buyers, homeowners, strapped borrowers facing foreclosure, state and local governments experiencing budget woes, veterans and businesses suffering losses in the current economic climate."

Mortgage Bankers Association - "MBA’s Kittle Testifies on FHA’s Role in Current Mortgage Market" (4-10-08)

"David G. Kittle, CMB, Vice Chairman of the Mortgage Bankers Association (MBA) and President of Principle Wholesale Lending, Inc. of Louisville, KY testified today before the Senate Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies. In his testimony, Mr. Kittle discussed the important role the Federal Housing Authority (FHA) will play in the current mortgage market turmoil."

Yahoo - "Paulson Says US Economy Has 'Turned Down Sharply'" (4-10-08)

"The U.S. economy has 'turned down sharply' and is at risk for further weakening, US Treasury Secretary Henry Paulson said. But in a speech in Washington, Paulson said the fiscal stimulus checks that will go out to Americans soon will have a real impact on the economy."

Bloomberg - "Goldman Cuts More Jobs, Citing 'Market Conditions'" (4-10-08)

"Goldman Sachs Group Inc., the world's biggest securities firm by market value, is cutting deeper into its ranks, eliminating posts in its mortgage and investment banking units as the credit contraction saps demand."

Bloomberg - "Pimco's Gross Holds Most Mortgage Debt Since 2000" (4-10-08)

"Pacific Investment Management Co.'s Bill Gross lifted holdings of mortgage debt in the world's largest bond fund to the highest since 2000, while putting on the biggest bet against government debt since at least the same year."

Bloomberg - "Fed Was Ready to Lend to More Brokers Before March 16" (4-10-08)

"The Federal Reserve was ready to lend to additional Wall Street brokers besides Bear Stearns Cos. on March 14, a day after the central bank was told that the firm needed emergency funding to avoid filing for bankruptcy. The Fed gave itself the authority to aid investment banks before it announced on Sunday, March 16, that the companies could take out direct loans from the central bank in a similar way to commercial banks. The disclosure came in an April 8 letter from the Fed to Senate Banking Committee Chairman Christopher Dodd that was obtained by Bloomberg News."

CNN - "Hope Now's numbers don't add up to much help" (4-10-08)

"Lenders have helped nearly 1.2 million troubled home owners as part of a Bush-administration led housing rescue effort, according to numbers released Thursday by the Hope Now coalition. But it's still not clear from the data, which represent the total number of workouts from July, 2007 through the end of February, exactly how effective Hope Now has been in keeping people in their homes."

CNN - "The big risk in the foreclosure fix" (4-10-08)

"FHA, a formerly obscure federal agency, is now at center of many plans to fix the housing market. But it may not be up to the task - and that could cost taxpayers a bundle."

Orange County Register - "O.C. seen as 6th riskiest U.S. home market" (4-10-08)

"Orange County ranked 6th most risky in the nation, with an 81% chance that home prices here will fall within two years. That compares to 4th most risky in PMI’s Winter 2008 report, and 3rd most risky in the Fall 2007 report. The Inland Empire again ranked as the most risky metro area among the top 50, with a 93% risk for price drops."

Orange County Register - "O.C. rent hikes to ease in ‘08" (4-10-08)

"The USC Casden Real Estate Economics Forecast predicts that O.C. rent hikes will average 2% to 3.5% this year."