Wells Fargo Shuts Down Subprime Mortgage Unit (San Diego.com) Wells Fargo & Co., the second-largest U.S. mortgage lender, says it will close its subprime wholesale lending business citing turmoil in the market for riskier home loans.
New-Home Sales Dip Again in June (BUILDER Online) Commerce's estimates reaffirm that the housing downturn could linger for quite some time.
Hovnanian CEO Says Housing's Biggest Problem is Psychological (CNBC) Ara Hovnanian tells CNBC, "When it's bad everybody thinks it's going to be bad forever, and that's not the case. It is going to come around."
Video: Deconstructing Home Builders (CNBC) Some of the experts on the Street weigh in on the home builder market, with Paul Puryear, Raymond James director, real estate research; Anthony Chan, JP Morgan Private Client Services managing director/chief economist, and CNBC's Carl Quintanilla.
Investor Losses Seen in Housing Slump (AP/Yahoo News) The national housing slump could lead to billions of dollars in losses for Wall Street investors as it drags on for at least another year and mortgage defaults increase, economists say.
Countrywide Financial Profit Slips (BUILDER Online) Mortgage lender reports a 33 percent drop in second-quarter net income.
Seiders Says Market to Bottom Out Around New Year's (BUILDER Online) NAHB chief economist gives his mid-year housing outlook and projects the industry will hit the bottom of the recession soon.
Free Web Seminar (BUILDER Online) What is green building? Join industry trainer Mark LaLiberte to learn more about sustainable construction and other green issues.
Special Report: The Mortgage Mess (MSNBC.com)
Blog: Unaffordable Housing (BUILDER Online) Agree or disagree with the thoughts of BUILDER Editorial Director Boyce Thompson.
Take the BUILDER Online Survey (BUILDER Online)
BUILDER Business Update (BUILDER Online) A weekly e-mail newsletter with breaking industry news on the business of building homes. Sign up for the BUILDER Business Update and other Hanley Wood newsletters.
Take the BUILDER Poll (BUILDER Online) Who bears the biggest responsibility for the mortgage meltdown?
Robb Crocker is the senior editor for BUILDER Online. Please e-mail any comments, questions, suggestions, and news tips to firstname.lastname@example.org.
Learn more about markets featured in this article: San Diego, CA.