Gainesville, Georgia-based GB&T Bancshares, Inc., a seven-bank holding company, announced last week that it will increase its allowance for loan losses through an additional provision of approximately $9.

Loan repurchases and unexpected 2006 financial losses have landed another subprime lender in legal hot water. California-based law firm Lerach, Coughlin, Stoia, Geller, Rudman & Robbins LLP, filed a class action lawsuit against Kansas City, Missouri-based NovaStar Financial Inc.

Former Federal Reserve Chairman Alan Greenspan said Monday that troubles in the subprime lending market are unlikely to pose a significant threat to the overall housing sector, according to the Bloomberg news agency.

LandAmerica Financial Group Inc., a provider of real estate transaction services, reported net income losses for 2006 earlier this week. The company said an overall slowing down in the real estate housing market attributed to its decline in annual revenue.

Never underestimate the will of a homeowner in foreclosure — especially when she loves the great outdoors and owns a lot next to her distressed property. Chris Pitaniello, marketing director for REMAX Alliance in Lone Tree, Colorado, says he will never forget when he pulled up to a distressed home and found the former resident living on a lot nearby.

Kansas City-Missouri-based H&R Block Inc., reported third quarter losses this week after the company’s subprime lending subsidiary Option One Mortgage posted a loss of $69.7 million for the third quarter of its 2007 fiscal year.

Consumers shopping for homes have a new ally with The National Association of Mortgage Brokers (NAMB) launching an ambitious plan designed to curtail predatory lending in the subprime market. NAMB’s new consumer protection initiative, which was designed to prevent foreclosures, is a significant portion of its 2007 policy agenda.

Freddie Mac, a government-sponsored enterprise that supports the nation’s housing market, has named 39 single-family mortgage servicers as Tier One Platinum or Tier One Gold performers for the year 2006 (see below for a list of winners).

The 2007 Mortgage Bankers Association (MBA) National Mortgage Servicing Conference & Expo in San Diego continued on Thursday with more companies introducing innovative software solutions designed to help lenders manage and track loans in the marketplace.

San Francisco-based Wells Fargo Home Mortgage says the company is cutting 250 subprime lending support positions from its Fort Mill, South Carolina campus. The decision was made after policy changes were implemented to tighten the underwriting guidelines on a portion of the lender’s nonprime loans.