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The 'subprime' lender also says it will close its 229 retail branches and
rely instead on the Web.
By Kathy M. Kristof and David Streitfeld, Times Staff Writers
May 3, 2006


The parent of Orange-based Ameriquest Mortgage said Tuesday it would lay off
one-third of its nationwide workforce and close all 229 of its retail
branches, in the latest sign of retrenchment in the real estate market.

The move to cut 3,800 jobs from a total ...   more »

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(AP) LA JOLLA, Calif. A real estate research firm says the number of
California homeowners who received mortgage default notices increased in the
first quarter to the highest level in more than two years.

Lenders sent more than 18,000 default notices to homeowners between January
and March -- for a 23.4 percent increase from the fourth-quarter of 2005 and
a 28.7 percent hike from the year-ago period.

The notices serve as an early indicator of possible ...   more »

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By Andrea Coombes, MarketWatch
Last Update: 7:49 PM ET Apr 27, 2006

SAN FRANCISCO (MarketWatch) -- If your mailbox is overflowing with
preapproved credit-card offers, you're not alone. Card issuers mailed more
than 6 billion offers in 2005, a record number and a 16% jump from the 5.2
billion sent in 2004, according to a new report by Synovate, a market
research firm.

While consumers can opt out of preapproved credit offers, Synovate's
findings suggest that ...   more »