The Office of Federal Housing Enterprise Oversight says while government-sponsored enterprises (GSEs) have made significant gains in compliance, they still remain a significant supervisory concern. In a recent report to Congress, James B.

Homeowners facing default because of risky subprime mortgages have a new advocate on their side promising $1 billion in homeownership rescue funds. The noted advocate is the Neighborhood Assistance Corporation of America (NACA), a non-profit devoted to community advocacy and homeownership.

A member of the New Jersey General Assembly asked the state’s attorney general on Wednesday to implement a 180-day foreclosure moratorium to help borrowers trapped in risky loans. In a letter to Attorney General Stuart Rabner’s office, Assemblyman Neil Cohen, said the state needs time to research all foreclosures related to subprime loans issued by companies like New Century Financial Corp.

After a recent round of layoffs, subprime lender New Century Financial Corp. helping former staff members search for jobs. The Irvine, California-based employer was forced to dismiss 3,200 employees when it filed for Chapter 11 bankruptcy on April 2.

Fayetteville, North Carolina-based law firm Hutchens, Senter & Britton, P.A., which specializes in foreclosure and civil litigation, announced that employees Lesley Cavenaugh, Dianne Dunn, and Aileen Gibson have qualified as North Carolina state bar certified paralegals.

Several days after announcing the resignation of its independent auditor Grant Thorton, LLP, San Diego-based Accredited Home Lenders Holding Co. announced a new relationship with auditor Squar, Milner, Peterson, Miranda & Williamson, LLP.

Attitudes about personal or individual wealth are receiving more play with troubles in the subprime lending sector showing the potential pitfalls of less than cautious planning. Recognizing this trend, NeighborWorks America, an organization that offers personal finance courses and financial support to communities, issued a press release saying April is now Financial Fitness Month – or a time when borrowers and consumers can test their fiscal fitness and enroll in financial education courses available at local community development organizations.

While the state of the global economy is favorable, it’s unclear whether current conditions in the subprime lending market will eventually spread to economies throughout the globe, according to a new Global Financial Stability Report prepared by The International Monetary Fund.

Declarations of bankruptcy at various subprime lenders prompted Chicago-based Huron Consulting Group, a provider of financial and operational consulting services, to release a report called the Top Ten Things You Need to Know to Investigate a Subprime Mortgage File.

Lewisville, Texas-based EMC Mortgage Corp. announced that Steven Ruther has joined the company as senior vice president in information technology. Steven, who has more than 18 years of technology and management experience with a focus on the financial services industry, will be serving EMC in a senior role that provides production support as well as project delivery across key business areas.