DQNews - "Bay Area home sales up 45% over '07; median price falls to $400K" (10-21-08)

"Bay Area home sales soared last month above the record-low levels of a year ago, marking the largest gain in over six years. The median sale price did the opposite, diving to $400,000 - 40 percent below its summer 2007 peak - as more sales shifted to lower-cost inland markets laden with foreclosures."

San Francisco Chronicle - "HUD says lenders working to aid homeowners" (10-21-08)

"Many of the larger lenders have told us they will take an important slice of their portfolio and put them into H4H. We urge anyone who thinks they may have a problem paying their loan to get to a counselor quickly. Talk to your lender about your options. Potentially go see other lenders about refinancing."

Bloomberg - "Subprime SEC Bungled While Bear Stearns Imploded" (10-21-08)

"At last we're taking steps to tackle the overflow of crises connected to subprime mortgages. But when are we going to get around to the fiasco of subprime regulators? The Securities and Exchange Commission has been the target of four scathing reports by its internal watchdog over the past month, skewered in hundreds of pages that depict everything from deference to the industry it's supposed to regulate to the inability or unwillingness to act in the face of palpable warning signs before Bear Stearns Cos. collapsed."

Bloomberg - "Mortgage Bankers to Ask U.S. to Lift Home-Loan Limits" (10-21-08)

"The U.S. Mortgage Bankers Association plans to ask the Federal Housing Finance Agency to increase the limit for Fannie Mae and Freddie Mac purchases or guarantees of single-family mortgages to $625,500 to bolster the housing market."

Bloomberg - "Fed to Provide Up to $540 Billion to Aid Money Funds" (10-21-08)

"The Federal Reserve will provide up to $540 billion in loans to help relieve pressure on money-market mutual funds beset by redemptions."

Bloomberg - "Frank Says FDIC's Bair Should Lead U.S. Anti-Foreclosure Effort" (10-21-08)

"Federal Deposit Insurance Corp. Chairman Sheila Bair should lead a 'government-wide effort' to stem foreclosures and keep struggling borrowers in their homes, House Financial Services Committee Chairman Barney Frank said."

Realty Times - "Real Estate Outlook: Economy in Recession" (10-21-08)

"The 'R' word is back -- and this time economists ranging from former Fed chairman Alan Greenspan to the National Association of Realtors' Lawrence Yun agree that we're likely to be dealing with a declining economy for months to come.'The U.S. has entered a recession,' said Yun in his latest forecast, 'and (the economy) will contract for the next three quarters.'"

Inman News - "Study: Mortgage customer satisfaction grows" (10-21-08)

"Overall, customer satisfaction with mortgage originators increased slightly, to 757 on a 1,000-point scale, up 7 points from 2007. J.D. Power said fewer customers reported being asked for additional information after submitting their application; more customers were provided with time frames for application approval; and fewer customers reported that their closing costs were higher than originally estimated."