NAR - "Mortgage Problems Continue to Hamper Pending Home Sales" (10-2-07)

"Pending sales of existing-homes activity will be dampened near-term as mortgage disruptions continue to impact the housing market, according to the National Association of Realtors®. The Pending Home Sales Index*, a forward-looking indicator, fell 6.5 percent to a reading of 85.5 from an upwardly revised 91.4 in July, based on contracts signed in August. It was 21.5 percent below the August 2006 index of 108.9."

Mortgage Bankers Association - "MBA Establishes Residential Technology Providers Forum" (10-2-07)

"The Mortgage Bankers Association (MBA) today announced the establishment of a new residential technology forum dedicated exclusively to providing the necessary facilitation, identification, discussion and communication of pertinent industry related issues to the residential software and services provider community."

Los Angeles Times - "Index forecasting near-term home sales hit record low in August" (10-2-07)

"An index that forecasts near-term home sales fell in August to a record low as would-be homebuyers had difficulty getting mortgages. The National Association of Realtors said today that its seasonally adjusted index of pending sales for existing homes fell 6.5 percent from July and 21.5 percent from a year ago."

Bloomberg - "Fed Fails to Restore Creditor Confidence, Pimco Says" (10-2-07)

"As far as the world's biggest bond investors are concerned, the Federal Reserve is failing to restore confidence in the U.S. credit markets. Pacific Investment Management Co., TIAA-CREF and Insight Investment Management say the central bank's decision to lower the overnight lending rate between banks by half a percentage point last month won't prevent the economy from slowing or corporate defaults from increasing. Lehman Brothers Holdings Inc. strategists say last month's rally in high-yield corporate bonds, the biggest since 2003, may fizzle by year-end."

Reuters - "Banks confined if credit woes persist: Goldman" (10-2-07)

"Banks will likely be reluctant to make new business loans if tight credit conditions persist, hampering capital spending and the economy in the coming months, according to Goldman Sachs. The credit turmoil led to a surge in business lending since August with the growth rate of commercial and industrial loans on commercial bank balance sheets running at a 50.2 percent annualized rate, its fastest in more than 20 years."

Yahoo - "Pending Home Sales Index Hits Record Low" (10-2-07)

"An index that forecasts near-term home sales fell in August to a record low as would-be homebuyers had difficulty getting mortgages. Economists said the housing market's woes show no sign of improving soon. The National Association of Realtors said Tuesday its seasonally adjusted index of pending sales for existing homes fell 6.5 percent from July and 21.5 percent from a year ago."

Bloomberg - "Greenspan Sees `Rethinking' on CDOs After Losses" (10-2-07)

"Former Federal Reserve Chairman Alan Greenspan said there will be 'some rethinking' of collateralized debt obligations after demand for them helped fuel a bubble in the U.S. subprime mortgage market. 'People always say it's the subprime market that created this crisis,' Greenspan told investors at an event hosted by Bloomberg LP in London. 'It's the subprime asset-backed market'' which did, he said. 'As a consequence of that, there's going to be some rethinking about collateralized debt obligations.'"