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Senate proposal to reduce cap on federal foreclosure aid could limit help for bi2330160 WASHINGTON ? Californians may be at the epicenter of the nation's foreclosure crisis, but more than half of them live high-cost areas that could be denied aid under a proposed federal bailout

Senate proposal to reduce cap on federal foreclosure aid could limit help for bi2330160 WASHINGTON ? Californians may be at the epicenter of the nation's foreclosure crisis, but more than half of them live high-cost areas that could be denied aid under a proposed federal bailout

Federal regulators prepare to tighten mortgage rules (Los Angeles Times)

IndyMac to exit most home lending, slash 3,800 jobs (Newsday) bi2330160 The Pasadena S & L drastically cutting mortgage operations, closing offices and laying off 3,800. IndyMac Bancorp, once a leader the nontraditional home loans that helped drive the housing boom, all but quit the mortgage business Monday and said would lay off 3,800 people, more than half staff, the wake of growing defaults by borrowers

IndyMac to exit most home lending, slash 3,800 jobs (Los Angeles Times)

Foreclosure bill orders lenders to talk to borrowers (Ventura County Star) bi2330160 SACRAMENTO ? Gov. Arnold Schwarzenegger indicated he sign an urgency bill sent to by lawmakers Wednesday that require lenders to talk personally homeowners before taking the first formal step toward foreclosing on a home

Schwarzenegger Praises California Foreclosure Bill (NBC 11 Bay Area) bi2330160 SACRAMENTO, Calif. -- By John Boitnott , Web Producer A bill that would require mortgage holders to provide a 30-day notice to a borrower before filing any default notice earned the praise of Gov. Arnold Schwarzenegger Wednesday

Schwarzenegger Praises California Foreclosure Bill (NBC 4 Los Angeles) bi2330160 A bill that would require mortgage holders to provide a 30-day notice to a borrower before filing any default notice earned the praise of Gov. Arnold Schwarzenegger Wednesday

Wachovia ends risky mortgage program (BizJournals) bi2330160 Wachovia said Monday that it's immediately waiving all prepayment penalties on Pick-A-Pay residential mortgage loans, giving borrowers more flexibility to out of the controversial loans. (WB)..

Attorney General?s office raids Redding-based firm (The Record Searchlight) bi2330160 The California Attorney General?s office on Monday raided Asset Real Estate & Investment Co. (AREI), the Redding-based firm accused of defrauding investors

Smoke-shrouded Calif. scrambles to fight wildfires (AM New York) bi2330160 Hundreds of homes the scenic community of Big Sur were threatened by a wildfire that already had burned 16 residences and was just 3 percent contained Wednesday

Federal regulators prepare to tighten mortgage rules (Los Angeles Times)

IndyMac to exit most home lending, slash 3,800 jobs (Newsday) bi2330160 The Pasadena S & L drastically cutting mortgage operations, closing offices and laying off 3,800. IndyMac Bancorp, once a leader the nontraditional home loans that helped drive the housing boom, all but quit the mortgage business Monday and said would lay off 3,800 people, more than half staff, the wake of growing defaults by borrowers



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