Bloomberg - "Bank of America’s Merrill Adds $5 Billion to Deposits in Month" (6-5-09)

"Bank of America Corp., the lender that demoted its leader after investors challenged his purchase of Merrill Lynch & Co., added almost $5 billion of deposits in a month after putting 1,000 bankers in brokerage offices."

Bloomberg - "Mozilo Saw Countrywide ‘Flying Blind,’ Dumped Stock, SEC Claims" (6-5-09)

"The day after Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo arranged to start $139 million in stock sales, he told two top deputies there was 'no way' to value one of its most popular mortgages."

Bloomberg - "Sternlicht’s Starwood Property Plans $500 Million IPO" (6-5-09)

"Barry Sternlicht’s Starwood Property Trust Inc., a newly formed company that will originate and invest in commercial real estate mortgages, plans to raise as much as $500 million in an initial public offering. Starwood Property said it will purchase distressed commercial loans and provide financing for commercial property, according to a regulatory filing."

Bloomberg - "Banks Use Conversions for 22% of Stress-Test Funds" (6-5-09)

"Bank of America Corp. and nine U.S. lenders, facing a June 8 deadline to explain their capital- raising plans to regulators, are relying on preferred-stock conversions for 22 percent of their fundraising. Bank of America needed to raise the most, $33.9 billion, in response to U.S. stress tests and will use share conversions to account for $9.5 billion, according to data compiled by Bloomberg. Banks are crafting packages that include common stock offerings, preferred share swaps and the sale of securities or assets."

Orange County Register - "Mid-May O.C. home price at 2009 high" (6-5-09)

"$388,000 median selling price is also -20.8% vs. a year ago and -40% below June 2007’s peak of $645,000. Prices have been falling on a year-over-year basis since Sept. 2007 with the worst at -31.5% in August 2008."

Orange County Register - "Is your ZIP 1 of 10 with home-price gains?" (6-5-09)

"6 of O.C. ZIPs had median sales prices above $1 million in the period vs. 11 million-dollar ZIPs when the county median price peaked in June 2007. Since that pricing pinnacle, there’s been a -40% drop in the countywide median price!"

Realty Times - "Market Conditions" (6-5-09)

"The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5."

Realty Times - "Investor Report: First Time Home Buyers" (6-5-09)

"Some real estate investors assume that the federal first-time home buyer tax credit has little relevance for them. After all, they already own their own houses, and the $8,000 credit was designed for people who are either buying their very first home -- or they haven't owned one in three years. But investors should be aware of a couple of recent wrinkles in the tax credit rules that they can put to good use themselves."

Realty Times - "Going Green May Help Sell Your Home" (6-5-09)

"It's becoming the buzz word in housing -- 'green' homes are what many buyers are interested in these days. According to the National Association of Home Builders (NAHB), as much as 90 percent of home buyers think that energy efficiency is a very important factor when shopping for a home. These same buyers are also very interested in environment-friendly features including having housing close to parks, public transportation, and well-designed neighborhoods with sidewalks."