NAHB - "Registration for the 2008 International Builders' Show is Now Open" (7-2-07)

"Online registration and housing are now open for The 2008 International Builders’ Show® (IBS), being held February 13-16, 2008 at the Orange County Convention Center in Orlando, Fla. Produced by the National Association of Home Builders (NAHB), the show is expected to draw more than 100,000 attendees representing all facets of the building industry. Attendee registration and hotel information can be found online at www.BuildersShow.com. More than 1,900 exhibitors will showcase their latest products and services at The 2008 IBS, the largest annual light construction show in the world, covering more than 1,000,000 net square feet. The Show will also feature nearly 300 education sessions, taught by nationally recognized speakers and designed to help attendees stay current on industry trends and issues."

NAR - "Realtors® Raise Walls on Habitat Home For Las Vegas Family" (7-2-07)

"Saturday was a special day for the Parker family of Las Vegas; it was the day the National Association of Realtors® raised the walls of their new Habitat for Humanity home at 1933 Gregory Street. Patty Parker and her two daughters, Jasmine, 14, and Cassidy, 12, were joined by leaders of NAR, the Nevada Association of Realtors®, the Greater Las Vegas Association of Realtors® and Habitat for Humanity Las Vegas at the wall raising ceremony."

MBA - "HUD Offers Guidance on Truncated Social Security Numbers on Credit Reports" (7-2-07)

"Recently, in response to the growing incidence of identify theft, some providers and resellers of consumer credit reports have implemented a policy of printing only a truncated version of the individual’s social security number (SSN) on the credit report product it offers to lenders and other users of these reports. This mortgagee letter provides assurances to FHA-approved mortgagees that credit reports with truncated SSNs, subject to the additional guidance described below, are acceptable for FHA mortgage insurance purposes"

Bloomberg - "Bear Stearns Meets Possums in Georgia as Foreclosures Increase" (7-2-07)

"Only the possums are enjoying the backyard of 2035 Lilac Lane in Decatur, Georgia, where Wall Street titan Bear Stearns Cos. is just another homeowner by default. 'It's a mess,' said Kiwanna Ford, 31, who grew up next door to the vacant brick ranch-style house four miles south of the DeKalb County Courthouse. Bear Stearns seized the property three months ago after Ford's neighbor stopped making payments on his mortgage. 'If we wanted to sell our house right now with that next door, it would hurt,' she said."

Bloomberg - "Bear Stearns Dismembers U.S. Treasury Bear Market" (7-2-07)

"Treasury investors can thank Bear Stearns Cos. for smothering the bear market. Traders who cut their holdings of U.S. government debt just a few weeks ago as retail sales increased and job growth accelerated are now snapping up Treasuries. Demand is being fueled by speculation that losses at hedge funds owning subprime mortgage bonds such as those managed by New York-based Bear Stearns and London-based Cambridge Place Investment Management LLP will spread and slow the economy."

Seeking Alpha - "Are Subprime Mortgages an Illiquidity or Credit Event?" (7-2-07)

"There are two popular views that I am seeing among those who are currently in the media limelight regarding subprime mortgages. There may be more, but I will point at James Cramer’s assertions that this is an illiquidity event, and not a credit event, and the assertions of Bill Gross that this event heralds a wider credit event, and soon. Neither are correct in my opinion."

Realty Times - "Alt-A Loan Defaults Yet To Peak" (7-2-07)

"It's not just the subprime stew that helped slide the housing market into a slough. Housing is also mired in a muskeg of failing "Alt-A" mortgages. Suffering from the same untried underwriting and difficult to decipher disclosures that swamped subprime borrowers with foreclosures, "Alt-A" loans made in 2006 suffered 90-day or longer delinquency rates 2.5 times higher than those made in 2005 and 4 times higher than those in 2004, according to LoanPerformance data crunched by analysts at Standard and Poors."

Bloomberg - "Trump Entertainment Says Talks Ended Without Deal" (7-2-07)

"Trump Entertainment Resorts Inc., the casino company founded by real estate developer Donald Trump, failed to find a buyer after a three-month search, sending its shares to the biggest drop in two years. The offers the company received weren't likely to lead to a transaction, Trump said today in a statement. Trump hired Merrill Lynch & Co. in March to explore a sale. It held negotiations with a group of investors that included Dennis Gomes, the former manager of the Trump Taj Mahal."

Patrick.net - "A House Buyer's Advice To Real Estate Agents" (7-2-07)

"Just because I don't happen to have my agent with me on this visit, doesn't mean I don't have one. Without an agent with me, we both know that your first question is likely to be, 'are you working with somebody?' This really means you're trying to find out if there's any chance you can function as a dual agent and double your percentage. Or, maybe that same question is your way of determining if I'm really a serious buyer or just one of the neighbors from down the block. See those MLS sheets and Google maps in my hand? I'm not a neighbor from down the block. I'm looking to buy something. You'll see that in my eyes once you stop worrying about 'establishing a dialog" or "getting to know your buyer" or when you stop asking yourself, "How can I tuck in an extra 2.5 points on this deal?'"

Voice of San Diego - "It's Not a Subprime Problem" (7-2-07)

"I covered the distinction between subprime mortgages and what S&P calls 'higher risk' loans back in March, and again in April, but the vast majority of analysts continue to act as if the problems are limited to subprime loans. So I'm going to use the latest Bloomberg piece as an excuse to revisit the topic yet again. 'Subprime' is a label that is given to borrowers with low credit scores. A borrower who has a good credit history and a track record of paying the bills on time is not considered subprime. 'High risk mortgages' are those that have features that increase the likelihood of the borrower being unable -- or unwilling -- to make the payments at some point in the future. The most notable of such features are the tendency for the loan's monthly payment to reset substantially higher in the future, limited documentation of borrower income or assets, and very low down payments. Many high risk loans contain a combination of these vulnerabilities, if not all of them."

Los Angeles Times - "Foreclosure Hurts: The Commercials" (7-2-07)

"This can't be good for buyer morale: The Ad Council is rolling out a series of 'foreclosure prevention' public service spots. The blog at Inman.com has links to the Ad Council spots, as well as this one from the Mortgage Bankers Assn. Who's paying? The mortgage industry, hoping to limit foreclosure-related losses: The Inman blog: 'Why would lenders pay for ads that acknowledge the mental anguish that financial troubles can bring on a family? Lenders rack up $30,000 or more in costs on every mortgage they foreclose.'"

Real Estate Journal - "Steps to Modify Loans and Avert Foreclosures Draw Controversy" (7-2-07)

"As defaults on home loans mount, mortgage companies are scrambling to work out deals to help as many borrowers as possible stay in their houses. On the surface, it seems an obvious tactic. Lenders usually end up losing money on foreclosed homes because of legal and other costs and the need to sell those properties fast, often at a knockdown price. Also, politicians are pressing mortgage companies to minimize the damages foreclosures cause to families and neighborhoods."