Mortgage Bankers Association - "Commercial/Multifamily Mortgage Debt Outstanding Continued to Grow in Second Quarter" (9-23-08)

"The level of commercial/multifamily mortgage debt outstanding grew by 1.5 percent in the second quarter, to $3.44 trillion, according to the Mortgage Bankers Association's (MBA) analysis of the Federal Reserve Board Flow of Funds data."

Mercury News - "Home prices fell 5.3 percent in July, now at 2005 levels" (9-23-08)

"Home prices in July fell 5.3 percent compared with a year ago, a government agency said today, and have now receded to October 2005 levels. The home price index was down 0.6 percent from June on a seasonally adjusted basis, according to the Federal Housing Finance Agency. "

Bloomberg - "Bernanke Signals U.S. Should Pay More for Bad Debt" (9-23-08)

"Federal Reserve Chairman Ben S. Bernanke signaled that the government should buy devalued assets at above-market values to make its proposed $700 billion rescue package most effective in combating the financial crisis. "

Bloomberg - "Morgan, Goldman Seek Deposits; Banks Are `Lunch'" (9-23-08)

"Morgan Stanley and Goldman Sachs Group Inc., the two largest remaining independent U.S. securities firms, may add to the $81 billion of financial services deals unveiled during the past week as they morph into banks."

Bloomberg - "Credit Swaps Must Be Regulated Now, SEC's Cox Says" (9-23-08)

"U.S. Securities and Exchange Commission Chairman Christopher Cox said Congress should 'immediately' grant authority to regulate credit-default swaps amid concern the bets are fueling the global financial crisis."

Bloomberg - "Barclays May Cut 5,000 Lehman Jobs, Recruiters Say" (9-23-08)

"Barclays Plc, the U.K. bank that bought parts of Lehman Brothers Holdings Inc.'s U.S. businesses, may cut as many as 5,000 jobs at the bankrupt company, Wall Street recruiters said. The estimate, based on the $2.5 billion Barclays set aside for potential severance and retention costs, would mean half the Lehman employees transferred to the London-based company may be let go. Barclays, which agreed to pay $1.7 billion for the business, said it will decide in three months who will be offered permanent positions."

Bloomberg - "Lennar Reports Loss, Chief Wants More Housing Support" (9-23-08)

"Lennar Corp., the second-largest U.S. homebuilder, reported its sixth straight quarterly loss and said the government's effort to increase demand has failed."

Bloomberg - "GMAC to Sell Home-Services Unit to Brookfield Asset" (9-23-08)

"GMAC LLC, the money-losing home and auto lender, will sell its home-services unit to Brookfield Asset Management Inc. as it expands efforts to raise cash. The transaction, which will stretch Brookfield's Residential Property Services unit into the U.S., will likely be completed in the fourth quarter of 2008, Toronto-based Brookfield said today in a statement. Terms of the deal aren't being disclosed, said GMAC spokeswoman Gina Proia and Brookfield spokesman Rob Ireland."

Bloomberg - "AIG's $16 Billion in Real Estate May Be Cash Source" (9-23-08)

"American International Group Inc., selling assets to repay a U.S. government loan, may seek buyers for some of its $16 billion in global real estate holdings. The largest U.S. insurer, which agreed last week to an $85 billion federal loan to stay afloat, may find eager buyers for property it owns in more than 30 countries and 14 U.S. cities. In Manhattan alone, it controls three office buildings with 2 million square feet."