NAHB - "Statement By Jerry Howard, President And CEO Of The National Association Of Home Builders" (12-9-08)

"With our builders and other members of the housing industry confronting the most serious recession in more than 50 years, we are announcing today that NAHB is cutting $11.5 million from its operating budget to ensure that NAHB remains the premier advocacy and service trade association for the residential construction industry"

NAR - "Pending Home Sales Holding In Stable Range" (12-9-08)

"The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September, and is 1.0 percent below October 2007 when it was 89.8."

Mortgage Bankers Association - "Credit Markets and Economy Add Pressure to Commercial Mortgage Performance " (12-9-08)

"Delinquency rates continued to tick up in the third quarter for most commercial/multifamily mortgage investor groups, but remained at the lower end of their historical ranges, according the third quarter Commercial/Multifamily Delinquency Report from the Mortgage Bankers Association (MBA). "

San Francisco Chronicle - "Half of loans modified in first half in default" (12-9-08)

"More than half of all homeowners who had their loans modified to make the payments more affordable in the first half of the year are already in default again, banking regulators said Monday. The new data raise questions about whether government money may be better spent on creating jobs, rather than averting foreclosures, said John Reich, director of the federal Office of Thrift Supervision at a housing industry forum sponsored by his agency."

Yahoo - "Fannie, Freddie execs turned aside warnings" (12-9-08)

"E-mails and other internal documents released by the House Oversight and Government Reform Committee show that former Fannie Mae CEO Daniel Mudd and former Freddie Mac CEO Richard Syron disregarded recommendations that they stay away from riskier types of loans."

Bloomberg - "Feldstein Sees Risk U.S. Home Prices Will ‘Overshoot’" (12-9-08)

"U.S. house prices have further to fall and may slide beneath the level they were at before the real- estate bubble began to inflate, said Martin Feldstein, a Harvard University economics professor."

Bloomberg - "Raines Faults Regulators for Fannie, Freddie Missteps" (12-9-08)

"Former Fannie Mae Chief Executive Officer Franklin Raines faulted regulators and housing officials for encouraging the mortgage-finance company and its competitor Freddie Mac to expand into riskier loans with limited oversight."

Orange County Register - "Property tax collections up 2% as Wed. deadline looms" (12-9-08)

"O.C. Tax Collector reports that through Saturday, secured property tax collections were $1.542 billion — approximately $30 million higher than for the same period in 2007. That’s a 2% bump!"

Realty Times - "Market Conditions" (12-9-08)

"According to the Government National Mortgage Association (Ginnie Mae), issuance for its Mortgage-Backed Securities (MBS) program hit $27.1 billion in November 2008."