Business Week - "Under The Fed's Hammer " (3-9-07)

"How Fed rate hikes have turned into a regressive tax on weak borrowers "

Bloomberg - "Rising Subprime Mortgage Defaults Add to Unsold Homes Inventory" (3-8-07)

"Rising mortgage defaults by subprime borrowers may add more than 500,000 homes to a residential real estate market already beset by slumping prices, according to CreditSights Inc."

MBA.org - "MBA Signs Memorandum of Agreement with FBI to Promote Use of FBI’s Mortgage Fraud Warning Notice" (3-8-07)

"John M. Robbins, CMB, Chairman of the Mortgage Bankers Association (MBA), today joined Karen E. Spangenberg, Financial Crimes Section Chief for the Federal Bureau of Investigation (FBI) to announce and sign a memorandum of agreement for the two organizations to work together to promote the FBI’s Mortgage Fraud Warning Notice."

CNN - "Home prices: Don't expect quick rebound" (3-9-07)

"I expect prices and sales to be modestly growing by June in most of the country," said David Lereah, the chief economist for the National Association of Realtors and perhaps the most bullish housing economist. "But we'll have to go into 2008, maybe even 2009 before we get even close to the peaks we saw in late 2005 or early 2006."

Forbes - "New Century On Verge Of Bankruptcy" (3-9-07)

"In company news, there's more trouble brewing in the subprime lending market. Shares of New Century Financial (nyse: NEW - news - people ) fell more than 18% after it said it would stop accepting loan applications. New Century has had a tough time securing financing to stay afloat, and some analysts think the company may be on the edge of declaring bankruptcy."

Bloomberg - "General Electric's WMC Mortgage Cuts Subprime Jobs (Update4)" (3-9-07)

"General Electric Co.'s U.S. mortgage unit will curtail lending and fire 460 workers, or 20 percent of staff, amid a rise in defaults by people with poor credit."