The Wall Street Journal - "U.S. Plans to Combat Mortgage Fraud, Rescue Scams" (4-6-09)

"U.S. officials Monday trumpeted a multi-agency effort to combat a wave of mortgage-fraud and foreclosure-rescue scams. The announcement comes as the Obama administration is rolling out its plan to help as many as nine million homeowners obtain more affordable mortgages. The plan's success could be threatened by fraudulent schemes targeting borrowers trying to get out from under heavy mortgages."

Bloomberg - "California Foreclosures Jeopardize Renters as Banks Seize Homes" (4-6-09)

"In California, home to the most foreclosures in the country last year and about 5 million renter households, residents who are current on rent payments face eviction by banks unwilling to be landlords. At least one-third of the state’s 267,000 foreclosure sales in 2008 were rental units, said Dean Preston, executive director of Tenants Together, a San Francisco-based non-profit group for renters’ rights."

Bloomberg - "Mayo Gives Banks ‘Underweight’ Rating on Loan Losses" (4-6-09)

"CLSA analyst Mike Mayo assigned an 'underweight' rating to U.S. banks, saying loan losses may exceed Great Depression levels and the government may be forced to take over large lenders."

Bloomberg - "U.S. Sets ‘Aggressive’ Action to Fight Mortgage Fraud" (4-6-09)

"The Justice Department, U.S. Treasury and other agencies said they are taking more aggressive action to confront 'bottom feeders' of the mortgage industry who prey on borrowers facing foreclosure. The efforts to combat fraudulent schemes that are promoted as official government programs include filing civil lawsuits, educating homeowners about mortgage-relief scams and directing borrowers to 'legitimate' counseling services, according to a statement today. The Housing and Urban Development Department, Federal Trade Commission and state officials are also involved."

Bloomberg - "General Growth Rises on Talk Bankruptcy Won’t Be Soon" (4-6-09)

"General Growth Properties Inc. rose 35 percent in New York trading on speculation that debt holders won’t force the shopping-mall owner into bankruptcy soon, said Rich Moore, an analyst with RBC Capital Markets."

Orange County Register - "O.C. foreclosure market is ‘hot’" (4-6-09)

"Home market watcher Steve Thomas at Altera Real Estate in Aliso Viejo reports that the number of O.C. distressed properties (homes listed by agents as foreclosures or short sales) was 4,092 last week, down 581 vs. two weeks earlier or a -12.4% change."

Orange County Register - "Low pricing luring 1st-time homebuyers" (4-6-09)

"73% want to buy to take advantage of current housing prices vs. 60% who want bigger living space vs. 56% needing a more suitable place to start or raise family and 47% who are buying a home as an investment"

Seeking Alpha - "FHLB Chairman Quits Due to Discomfort with FASB Shifting Accounting Rules" (4-3-09)

"When the man in charge of the second largest borrower in the U.S. is willing to lose his job due to his discomfort with the FASB's shift in accounting rules, you can bet that the tragic fallout of all the 'market buoying' recent events is only a matter of time."