Accounting

• Standard Pacific Awaits Waiver Extension

  Struggling public builder loses $216.4 million in Q1.

   

• Avatar Reports First Quarter Loss

  The Coral Gables, Fla.–based company lost $556,000, or $0.07 cents per share, in the quarter ended March 31, it reported.

   

• Fannie Mae Loses $2.2 Billion in 1Q

  Mortgage giant forecasts national home price declines between 7 percent and 9 percent for 2008

   

• WCI Revenue Plunges 59.5 Percent; Company Reports $84.1 Million Loss

  CEO Jerry Starkey calls it "a very tough and very disappointing quarter" for Florida-based builder.

   

• D.R. Horton Reports $1.3 Billion Loss in Q2

  Texas-based builder plans to conserve cash, and build through land holdings.

   

• Weyerhaeuser Loses $148 Million

  Company leader Dan Fulton says housing downturn has had a "devastating impact" on the forest products company's overall performance in 2008's first quarter.

   

• Centex Loses $2.66 Billion in FY2008

  Builder closed more than 27,000 homes last year, plans to continually evaluate its assets for best return in current market.

   

• M/I Reports $22.1 Million Loss

  Determined CEO discusses consumer confidence, rejects notion that new-home prices can’t go much lower.

   

• Meritage Loses $45 Million in Q1 of 2008

  Public builder says it has significantly reduced debt and inventory.

   

• The Ryland Group Notes Some "Bright Spots"

  National builder offers up some positive news during its earnings update.

   

• NVR Reports $43.5 Million in Net Income

  New orders down 30 percent in 2008’s first quarter.

   

• Arkansas Pro Dealer Stands Up for Suppliers

  National Home Centers calls on state and federal lawmakers to impose controls over how construction loans are drawn upon.

   

• KB Home Reports $268 Million First-Quarter Loss

  The Los Angeles-based builder sees new orders plummet on the heels of significant reduction in its communities.

   

• Lennar Loses $88.2 Million in 2008’s First Quarter

  Revenue down 62 percent, but company’s exposure to JVs, land has been reduced.

   

• Dwight Schar’s 2007 salary: $0

  Chairman waived salary, bonus last year.

   

• New Jersey Carpenters Sue D.R. Horton

  Union alleges that the builder, in cahoots with a local subcontractor, misclassified workers to avoid taxes.

   

• Mortgage Rates Slide Below 6 Percent

  National average dips to 5.87 percent for a 30-year fixed-rate home loan.

   

• Florida's Largest Truss Maker Goes Under

  Southern Building Products expanded as state's housing market contracted.

   

• Small Sigh of Relief

  Government decision to ease capital requirements for Fannie and Freddie should help mortgage market.

   

• WCI Communities loses $579 million in 2007

  Closings for struggling luxury builder fell 25.2 percent to 1,657 homes.