Mortgage Bankers Association - "Commercial/Multifamily Market Feels Economic Pressures" (3-31-09)

"The Mortgage Bankers Association (MBA) today released its Commercial Real Estate/Multifamily Finance Quarterly Data Book for the fourth quarter of 2008. The analysis shows a further decline in origination volume while commercial/multifamily mortgage debt outstanding remained relatively stable. Though economic pressures such as job losses and the decline in retail spending will continue to curtail originations and to raise the pressure on outstanding mortgages, expectations for the commercial mortgage market have been set so low that it may be hard to underperform them."

Sacramento Bee - "Yuba County tops nation in 'underwater' loans" (3-31-09)

"There's nowhere tougher in America to be paying a mortgage than Yuba County, says a new lending industry study released Monday. Nearly 78 percent of the county's mortgage debt is tied to houses that have lost value and are worth less than what's owed on them, said New Jersey-based SMR Research in its yearly 'Giants of the Mortgage Industry' study."

Bloomberg - "Home Prices in 20 U.S. Cities Fell by a Record 19%" (3-31-09)

"Home prices in 20 U.S. cities fell 19 percent in January from a year earlier, the fastest drop on record, as demand plummeted and foreclosures rose. The S&P/Case-Shiller index’s decrease was more than forecast and compares with an 18.6 percent decrease in December. The gauge has fallen every month since January 2007, and year- over-year records began in 2001."

Inman - "Dramatic increase in prime-loan foreclosures" (3-31-09)

"HOPE NOW put the number of foreclosure starts on prime loans during February at 157,000, a 25 percent increase from the month before. Foreclosure starts on subprime loans fell by 5 percent, to 86,000. The record 243,000 foreclosure starts recorded in February represented a 12 percent increase from the month before and a 36 percent increase from a year ago."

Bloomberg - "Lennar Reports Wider First-Quarter Loss; Orders Drop" (3-31-09)

"Lennar Corp., the second-worst performer among U.S. homebuilding stocks last year, fell 14 percent after posting a wider first-quarter loss. The net loss was $155.9 million, or 98 cents a share, compared with $88.2 million, or 56 cents, a year earlier, the Miami-based company said in a statement. That exceeded the 78 cents projected by analysts in a Bloomberg survey. Revenue for the period ended Feb. 28 fell 44 percent to $593.1 million."

Bloomberg - "Apollo, Colony May Start Funds for Geithner’s Toxic-Asset Plan" (3-31-09)

"Apollo Global Management LLC, the private-equity firm run by Leon Black, and Colony Capital LLC may start funds to participate in the Obama administration’s program to buy distressed mortgage debt from U.S. banks. The firms are among buyout groups that are considering raising as much as $1 billion each to invest in government- backed deals, said people familiar with the matter who asked not to be identified because the discussions are private. Apollo and Colony may reduce their usual fees to lure investors who might otherwise be wary of betting on a recovery in real estate markets, the people said."

Orange County Register - "O.C. mortgage rates dip" (3-31-09)

"The best rates on fixed mortgages in Orange County today slid to the range of 4.5% to 4.6%, according to mortgage brokers. Jeff Altman, a partner with WestCal Mortgage Corp. in Orange, said lenders are offering as low as 4.625% on a 30-year fixed-rate loan with a one-point fee. That’s for loans up to the old conforming limit of $417,000."

Orange County Register - "Fannie, Freddie to the rescue?" (3-31-09)

"In any case, mortgage bankers are arguing they cannot meet demand for loans amid a refinance boom and so consumer rates are higher as competition is limited to big players like Wells Fargo and Bank of America that don’t rely on warehouse lines. There might be some truth to this."