OC Register - "Fremont gives workers two-month layoff notice" (3-20-07)

"The subprime mortgage industry saw two key developments Monday, both of which touch Orange County. Fremont Investment & Loan told many workers currently on leave from its Brea-based lending unit, Fremont General Corp., that their employment will end May 18. And regulators said the chief of New Century Financial in Irvine is one of several industry leaders being asked to testify before Congress. "

Sign On San Diego - "New Century says cut off by Fannie Mae" (3-20-07)

"New Century Financial Corp., a struggling mortgage lender to people with poor credit histories, said Tuesday it can no longer sell mortgage loans to Fannie Mae or act as the mortgage financier's primary servicer of mortgage loans."


Sign On San Diego - "People's Choice Home Loan files for Chapter 11" (3-20-07)

"People's Choice Home Loan Inc., a California-based mortgage lender to people with poor credit histories, filed for Chapter 11 bankruptcy protection Tuesday, according to court papers. The Irvine, California-based unit of People's Choice Financial Corp. became at least the fourth large U.S. subprime lender to seek protection from creditors in the last three months. Its parent, a real estate investment trust, also filed for Chapter 11. "

CNN - "Your Home: 5 tips if you're in too deep" (3-20-07)

"Feeling stretched by housing costs? Then it's time to give yourself a helping hand."

MSN - "Homes picture mixed after starts data" (3-20-07)

"The pace of U.S. home construction rose a sharp 9 percent in February but permits for future building slid, according to data on Tuesday that shed little light on whether the housing market was stabilizing. The cloudy home construction data and recent woes in the subprime mortgage market are sure to be on the minds of Federal Reserve members as they weigh monetary policy when they meet Tuesday and Wednesday."

CNN - "Housing starts rebound but permits fall" (3-20-07)

"Starts bounce back from 9-year low, but builders pull back on plans amid worries about real estate market and subprime mortgages."

Bloomberg - "Banks Pick Up Where Fed Left Off, Tightening Credit (Update1)" (3-20-07)

"Banks are picking up the baton from the Federal Reserve, restricting access to credit months after Chairman Ben S. Bernanke stopped raising interest rates. Fed officials may discuss the tightening in mortgage lending and its impact on the economy, already slowed by a housing recession, at their two-day meeting that began today in Washington. Countrywide Financial Corp., the biggest U.S. mortgage provider, last week stopped taking applications for no- money-down loans from risky borrowers without proof of income. "

Market Watch - "Stricter loans seen draining new-home demand" (3-20-07)

"The trouble in the mortgage market could spread beyond the subprime sector with tighter lending standards cutting demand for new homes by as much as 15% and further squeezing home-builder profits, according to an analyst following the industry."

NAHB - "Housing Starts Rebound 9.0 Percent In February, Permits Drop 2.5 Percent" (3-20-07)

"Housing starts rebounded 9.0 percent in February following a 14.3 percent drop the month before, according to figures released by the Commerce Department today. The pace of construction increased to a seasonally adjusted annual rate of 1.525 million units for the month, but was down 28.5 percent from a year earlier."

Real Estate Jounral - "Six Tips for Selling Your Home Without a Real-Estate Agent" (3-20-07)

" With all the online real-estate information available to home sellers nowadays, it's not surprising that some of them consider selling without the help of a real estate agent. The biggest advantage of the for-sale-by-owner strategy is that a commission won't need to be paid to a listing agent. But those taking on the job themselves need to roll up their sleeves and prepare for a little work to get the home sold, understanding that they will be the ones taking care of tasks ranging from marketing to showing the property to interested buyers. Those interested in trying their hand at selling a house might also consider the following tips: "