CBIA - "Housing Production Continues Decline in February, CBIA Announces" (3-24-09)

"According to statistics compiled by the Construction Industry Research Board, just 2,298 permits were pulled throughout California during the month of February, down 66 percent when compared to the same month a year ago, but up 15 percent from January."

Mortgage Bankers Association - "MBA Boosts Originations Forecast By Over $800 Billion" (3-24-09)

"The Mortgage Bankers Association today increased its forecast of mortgage originations in 2009 by over $800 billion. MBA now expects originations to total $2.78 trillion, which would make 2009 the fourth highest originations year on record, behind only 2002, 2003, 2005."

Mercury News - "Home prices post 6.3 percent annual decline in January" (3-24-09)

"A government report says U.S. home prices fell 6.3 percent in January from the same month last year. The Federal Housing Finance Agency says prices, on a seasonally adjusted basis, rose 1.7 percent from December to January. Changes in the geographic mix of sales explained the unexpected monthly increase. Home sales included in January's data were weighted toward areas that haven't borne as much of the brunt of the housing recession, the agency says."

Inman - "Most 2009 buyers may be first-timers" (3-24-09)

"Nearly 80 percent of Americans don't expect to buy a home in the next five years, but more than half of those that do plan to buy this year would be first-time homebuyers. That's according to a survey commissioned by Realtor.com operator Move Inc., which also found one in five homeowners with mortgages have contacted their lender hoping to restructure their loans. About half said they'd succeeded."

Bloomberg - "Mortgage Fees Highest Since 2000 Will Buoy U.S. Banks" (3-24-09)

"David Rapaport, a professor at the University of California San Diego Medical School, is paying an upfront fee of $3,500 to refinance his mortgage at 5.13 percent. A year ago, his rate was 6.25 percent and there were no fees. "

Bloomberg - "Wilbur Ross Defies Bruce Rose in Battle Over Housing Villains" (3-24-09)

"Ross’s American Home Mortgage Servicing Inc. and Rose’s Carrington Capital Management LLC are accusing each other of worsening the recession by devaluing homes and the mortgage bonds that sparked it. In a Stamford, Connecticut, lawsuit, Carrington says American Home hurt its hedge funds’ clients by dumping foreclosed homes tied to its subprime bonds at 'fire sale' prices. American Home, which countersued on March 20, says Carrington wants to grab bondholders’ money by blighting communities with vacant homes. "

Bloomberg - "Distressed Commercial Property Offerings Rising, Report Says" (3-24-09)

"About $11 billion of defaulted or foreclosed commercial properties were being offered for sale last month as landlords struggled to refinance loans, Real Capital Analytics Inc. said.About $5.7 billion worth of properties defaulted, were foreclosed upon or entered bankruptcy in February, the New York- based research firm said in a report today."

Bloomberg - "Treasury Preserves Bank Payday With AIG Rescue Cash" (3-24-09)

"The U.S. Treasury Department preserved a payday for five banks that was worth almost 200 times the bonuses handed out at American International Group Inc. through a government rescue."