Mortgage Bankers Association - "MBA: Bank of America and Wells Fargo Were Top U.S. Commercial/Multifamily Originators in 2008" (4-21-09)

"By dollar volume, the top five intermediaries in 2008 were Holliday Fenoglio Fowler, L.P., CBRE | Melody, Wells Fargo, NorthMarq Capital, and PNC Real Estate. The top five lenders were Bank of America, Wells Fargo, Wachovia, PNC Real Estate, and GE Real Estate."

Bloomberg - "Audit Cites $900 Million Loss on Citigroup Assets" (4-21-09)

"The U.S. Treasury estimated $900 million in losses as of the end of last year on $301 billion in Citigroup Inc. assets that the government is guaranteeing, according to a new audit report released today."

Bloomberg - "ICAP Loses 85% of Mortgage Bond Trading to Dealerweb" (4-21-09)

"ICAP Plc, the world’s largest broker of trades between banks, has lost 85 percent of its business over six weeks in the most-active part of the mortgage- bond market as Wall Street firms shift trades to their own electronic network."

Bloomberg - "Fed’s Kohn Says Economy May Stabilize, Start Recovery This Year" (4-21-09)

"Federal Reserve Vice Chairman Donald Kohn said the U.S. economy may stabilize in the second half and begin a slow rebound after a strengthening of 'fragile' financial markets."

Bloomberg - "Fed’s Hoenig Says Giving Capital May Prolong Crisis" (4-21-09)

"Federal Reserve Bank of Kansas City President Thomas Hoenig said injecting more capital into troubled financial companies may prolong the credit crisis and give the firms an unfair advantage."

Orange County Register - "O.C. housing seen 13.7% undervalued" (4-21-09)

"Economists at IHS Global Insight say Orange County homes were 13.7% undervalued in the fourth quarter, based on their formula that includes various economic and demographic factors plus historic housing trends. IHS pegged O.C. undervaluation at 3.7% in the third quarter. (This chart shows at fourth quarter data for IHS O.C. home pricing, annual rate of price change, and overvaluation/undervaluation.)"

Orange County Register - "Credit losses may hit $4.1 trillion worldwide" (4-21-09)

"Banks will shoulder about 61 percent of the writedowns, with insurers, pension funds and other nonbanks assuming the rest, the Washington-based lender said in a report released today on the state of the global financial system. The fund projected losses of $2.7 trillion at U.S. financial institutions, an increase from its estimates of $2.2 trillion in January and $1.4 trillion in October."

Inman - "First-time buyer tax credit a hit" (4-21-09)

"Preliminary numbers from the Internal Revenue Service suggest 1.4 million taxpayers will claim the federal first-time homebuyer tax credit on their 2008 tax returns, meaning the program is likely to meet or exceed the 2 million target set by lawmakers before it sunsets Nov. 30, 2009."

Inman - "BofA hiring 5,000 to meet refi demand" (4-21-09)

"Bank of America is hiring 5,000 employees to handle rising demand for mortgage refinancings, the company said Monday in announcing a $4.2 billion first-quarter profit."