Mortgage Bankers Association - "MBA Originations Survey Shows Shift to Fixed Rate and Government Loan Products in First Half of 2008" (11-5-08)

"Borrowers who took out mortgages in the first half of 2008 showed a strong preference for fixed rate mortgage products due to a decrease in fixed mortgage rates and the continued tightening of lending standards, according to the Mortgage Bankers Association's (MBA's) Mortgage Originations Survey released today"

Mortgage Bankers Association - "Mortgage Applications Decrease In Latest MBA Weekly Survey" (11-5-08)

"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending October 31, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 379.9, a decrease of 20.3 percent on a seasonally adjusted basis from 476.7 one week earlier. On an unadjusted basis, the Index decreased 21.1 percent compared with the previous week and was down 43.4 percent compared with the same week one year earlier."

The San Diego Union Tribune - "No. 1 homebuilder expects big loss" (11-5-08)

"After the stock markets closed – with all eyes on the presidential election – homebuilder D.R. Horton Inc. warned investors that it expected to lose up to $900 million in its fourth-quarter – about 18 times more than in the prior-year period. The nation's largest homebuilder projected the loss for the quarter ended Sept. 30 to range between $800 million and $900 million, including an expected tax benefit of $350 million. That works out to about $2.53 to $2.84 a share."

Reuters - "House seeks quick economic stimulus passage" (11-5-08)

"U.S. House of Representatives Speaker Nancy Pelosi on Wednesday urged passage of at least $61 billion in new economic stimulus funding this month, but said the future of the legislation requires cooperation from Republicans in the Senate and President George W. Bush."

Bloomberg - "MBIA, Ambac Losses Widen on Higher Claims Forecast" (11-5-08)

"MBIA Inc. and Ambac Financial Group Inc., the bond insurers crippled by credit-rating downgrades, posted wider losses than analysts anticipated after slumping credit markets forced them to increase reserves for claims."

Bloomberg - "Jones Lang Retools to Target Credit-Ravaged Customers" (11-5-08)

"Jones Lang LaSalle Inc., the commercial property broker that has lost more than half its market value this year, is reorganizing to help banks, insurers and local governments contend with the global credit crisis as the company's profit plunges."

Bloomberg - "General Growth, Kimco Fall After Cutting Forecasts" (11-5-08)

"General Growth, based in Chicago, cut its forecast for 2008 funds from operations, excluding items, saying it now expects to earn $2.85 to $2.95 a share. It had expected FFO of $3.42 a share. Kimco today forecast 2008 FFO of $2.20 to $2.45 a share, citing 'substantial dislocation in the credit markets and recent turmoil in the equity markets,' after earlier forecasting a range of $2.70 to $2.78 a share."

Bloomberg - "Schwarzenegger Seeks to Save Homeowners With Foreclosure Delay" (11-5-08)

"California Governor Arnold Schwarzenegger proposed a 90-day stay on home foreclosures in California, one of the hardest hit U.S. states by the national housing-market collapse. Schwarzenegger said he will ask lawmakers to consider delaying foreclosures when he orders them into a special session tomorrow to deal with the state's ballooning budget deficit. The measure would exempt lenders if they can prove they have set up a program to help troubled homeowners modify their loans."

Orange County Register - "Home value down? Think twice about cutting your insurance" (11-5-08)

"A recent survey conducted for the non-profit Insurance Information Network showed that 26% of Californians think they should reduce their insurance coverage because the resale value of their home has gone down."