Some housing bubble news on the lending front. "Acoustic Home Loans, a nonprime wholesale lender based in Orange, Calif., has gone out of business. Acoustic, founded in 2002, said in a statement posted on its website that it was 'no longer in business' as of April 14. The company's website says Acoustic was the 27th-largest nonprime wholesale originator in the nation."

"Reliant Home Warranty Corporation (announced today underwriting approval to offer North America's first 50-Year Amortization program for non-prime high-ratio mortgages. An investment in the Company's common stock is speculative in nature and involves a high degree of risk. The Company had a net loss of $938,752 for the year ended December 31, 2005(2004-8,455), and working capital deficiency of $161,531(2004-($832)). This raises doubt as to the Company's ability to continue as a going concern."

"ECC Capital Corporation, a real estate investment trust (REIT), operates as a subprime mortgage finance company. It primarily originates and invests in residential mortgage loans. ECC Capital was founded in 2004 and is headquartered in Irvine, California. On April 10, 2006, the registrant (announced) that members of its executive management team have offered to take significant reductions in their compensation to help the registrant in its efforts to cut costs."

"Co-founders Chairman and Co-CEO Steven Holder and President and Co-CEO Shabi Asghar have volunteered to work without salary or bonus for the next twelve months, and other members of the registrant's senior management team have agreed to significant percentage reductions in their base salaries and/or to return some of their previously granted options to purchase the registrant's common stock."

"Fannie Mae has loosened its mortgage approval standards for lower-income borrowers as it strives to meet its government mandated affordable housing goals."

"Federal regulators are moving toward their potentially final review of proposed guidelines that may restrict some banks' commercial real estate lending. Bankers are concerned that regulators might require, or perhaps scare, some banks into reducing real estate lending to an extent that it could lead to an economic slowdown."

"'We told them we understand that they are concerned about excessive risk,' Alex Sanchez, president and CEO of the Florida Bankers Association, said of meetings with regulators in Washington, D.C. 'We also said we don't want the bottom to fall out of the market.'"