The First American Homeownership Foundation (FAHF)—the philanthropic arm of The First American Corp. —says its second year in existence will be dedicated to helping homeowners struggling with risky ARM loans and the threat of foreclosure.

The Office of U.S. Senator Chris Dodd said representatives with Irvine, California-based New Century Financial Corp. will not be attending the Mortgage Market Turmoil: Causes and Consequences hearing scheduled to take place in front of the Senate Banking Committee on Thursday.

Irvine, California-based People’s Choice, a mortgage lender specializing in nonprime loans, filed for Chapter 11 bankruptcy this week, according to Bloomberg News. The filing arrived just as delinquency rates were hitting a 4-year high.

A nonprofit group representating homeowners believes there’s a way for the U.S. Government to prevent foreclosures in neighborhoods across America. That sentiment was echoed by the National People’s Action group on Monday when they began their two-day campaign on Capitol Hill.

When the required approvals are complete, San Diego, California-based Accredited Home Lenders Holding Co. will receive a $200 million term loan from an entity of Farallon Capital Management L.L.C. The subprime lender can use the loan to fund general working capital, loan funding, and other needs.

Lender Fremont General Corp. has announced layoffs that will affect several hundred people in its subprime mortgage lending unit. Fremont is one of several subprime lenders dealing with a turbulent market and a cease and desist order from the Federal Deposit Insurance Corp.

Mortgage lender Fannie Mae, one of the nation’s largest government-sponsored enterprises (GSEs), has suspended its mortgage selling and servicing agreement with Irvine, California-based New Century Financial Corp.

Atlanta, Georgia-based Street Resource Group Inc., a provider of technology, consulting, and information solutions for mortgage warehouse lenders, has appointed David Brackin to the position of chief operating officer.

San Diego-based Accredited Home Lenders Holding Co. has learned the company is facing a possible delisting from the NASDAQ stock market, according to a press release issued by Accredited on Monday. The decision was made after Accredited failed to file its annual report on Form 10-K by the expiration date.

Northbrook, Illinois-based the LOGS Network has announced the merger of Shapiro & Kreisman and the law firm of Chelmsford, Massachusetts-based Korde & Associates, making it the sole LOGS Network office to simultaneously service the states of Massachusetts, Rhode Island, and New Hampshire.