OC Register - "Subprime loans lured legions" (3-11-07)

"High-risk mortgages funded about 1-in-5 O.C. home purchases last year."

Contra Costa Times - "Home buyers, particularly those with limited English skills, vulnerable to deals that end in foreclosure or ruined credit: Pitfalls of housing boom uncovered" (3-11-07)

"Their stories reflect a national problem that is particularly acute in California, where thousands of lower-income families became first-time homeowners during the housing boom by getting nontraditional 'subprime' loans. Those loans, which carry higher interest rates, have typically been given to borrowers who are higher credit risks or have income that is difficult to verify. But as lenders face a wave of defaults, they're getting stricter about who receives money just as borrowers are trying to refinance their way out of mortgages they can't afford."

Sign On San Diego - "Subprime mortgage troubles raise fears" (3-11-07)

"In just a few short months, mortgage lenders who specialize in loans to borrowers with tarnished credit records have been in turmoil. Default rates among borrowers have surged. Share prices of many mortgage companies have plunged. A handful are in bankruptcy. Several others are working to exit the business. One of the largest, New Century of Irvine, said last week that creditors had forced it to stop making loans. The company's stock, which traded for about $50 a share in the middle of last year, closed Friday at $3.22. "

La Times - "Activity in Riverside and Ventura counties" (3-11-07)

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