Bellevue, Washington-based DepotPoint, a company that brings solutions to the foreclosure market, announced Tuesday that the current executive chairman of Bytemobile, Hatim Tyabji, joined DepotPoint’s Board of Directors.

HSBC Finance, the U.S.-based arm of London-based HSBC Holdings Plc, says HSBC Finance reported net losses for the first three months of 2007 as well as an upswing in delinquencies within its mortgage services unit.

The Secretary of the U.S. Department of Housing and Urban Development says while his organization continues to push for the modernization of Federal Housing Administration (FHA) loans to help borrowers, he remains wary of proposals that suggest a federal bailout of the subprime industry is warranted.

San Diego, California-based subprime lender Accredited Home Lenders Holding Co. said it anticipates a significant loss for the quarter ending March 31, 2007. In a filing with the Securities and Exchange Commission (SEC), Accredited also announced a significant reduction in its workforce within the last six months, which caused the company to drop from 4,200 employees in Dec.

Charlotte, North Carolina-based Lending Tree, LLC, an online lending exchange platform that is part of IAC, announced it’s cutting 20-percent of its workforce to keep expenses in line with current market conditions, a company spokesperson said on Monday.

Vero Beach, Florida-based Opteum Inc., a real estate investment trust, announced a net loss of $78.1 million per Class A Common Share during the first quarter (ending March 31). The loss is at least partially attributed to the company’s decision to exit the mortgage originations business.

Two state representatives in Pennsylvania joined forces on Friday to announce the creation of two rescue funds that were designed to save borrowers from risky loans. The new funds – which include the refinance fund and the workout fund – are part of an ongoing effort to curtail the recent upswing of foreclosures in the state of Pennsylvania.

The Addison, Texas-based law firm of Barrett, Burke, Wilson, Castle, Daffin & Frappier, LLP, says a nationwide upswing in foreclosures prompted the firm to join forces with the national nonprofit NeighborWorks America®.

Santa Ana, California-based Data Tree, LLC, a provider of recorded land documents and a part of The First American Corp., announced the release of DocEdge.com™ this week. The company describes DocEdge.

A 2008 presidential hopeful is feeling the pressures of the subprime pinch, according to news reports from agencies like BankNet 360. BankNet is reporting that former Senator and Democratic presidential candidate John Edwards – who has openly contested the predatory lending practices that played a role in the subprime crises – worked for Fortress Investment Group LLC, at a time when the company was increasing its interest in companies that originated subprime loans.