NAHB - "NAHB Remodelers Celebrates 25th Anniversary This Month" (10-3-07)

"The National Association of Home Builders (NAHB) announced the 25th anniversary of its NAHB Remodelers (NAHBR) council today. Formed in 1982, in response to growing member demand, the council was created as a way to deepen knowledge, professionalism and to promote the accomplishments of remodelers."

Mortgage Bankers Association - "MBA Reacts to Democratic Leaders’ Proposals to Help Troubled Borrowers and Address Mortgage Markets" (10-3-07)

"Senate Majority Leader Harry Reid, Speaker of the House Nancy Pelosi, Representatives Barney Frank and Carolyn Maloney and Senators Chris Dodd and Charles Schumer held a press conference today outlining steps to help consumers who are having difficulty making their monthly mortgage payments."

Mortgage Bankers Association - "Mortgage Applications Decrease In Latest MBA Weekly Survey" (10-3-07)

"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 28, 2007. The Market Composite Index, a measure of mortgage loan application volume, was 636.7, a decrease of 2.7 percent on a seasonally adjusted basis from 654.2 one week earlier. On an unadjusted basis, the Index decreased 2.9 percent compared with the previous week and was up 0.4 percent compared with the same week one year earlier."

Yahoo - "Job Cuts Worst Among Mortgage Companies" (10-3-07)

"About 37 percent of September job cuts were connected to the housing industry as that sector continues to languish in a deep slump, consulting firm Challenger, Gray & Christmas Inc. said Wednesday. Housing-related layoffs totaled 26,465 in September, while overall layoffs for the month totaled 71,739, according to Challenger, Gray & Christmas. The consulting firm considers mortgage lenders, construction companies and real estate firms the industries that make up housing-related sector."

Bloomberg - "Credit Suisse Says Mortgages to Remain `Problematic'" (10-3-07)

"Credit Suisse Group Chief Executive Officer Brady Dougan, the former derivatives trader who took over in May, predicts the market for mortgage credit will be 'problematic' for as long as 18 months. 'U.S. mortgage credit will remain problematic through this year and perhaps through 2008,' Dougan told investors at a conference organized by Merrill Lynch & Co. in London. The Zurich-based bank doesn't see a return to stability 'any time soon' after a surge in subprime mortgage defaults sparked a seize-up in credit markets in the third quarter, Dougan said."

Los Angeles Times - "Forecast of near-term home sales hits new low" (10-3-07)

"Pending sales of previously owned homes fell a surprising 6.5% in August as buyers struggled to get loans, indicating the dire housing market could worsen, according to an industry report released Tuesday. The National Assn. of Realtors pending home sales index fell to a reading of 85.5, the lowest since records began in January 2001."