Jumbo loan setback (Reno Gazette-Journal)
The recent sub-prime meltdown and decline in values of high-end homes have spooked investors who purchase mortgage secured jumbo loans (loans above $417,000). As a result, lenders have recently had to raise rates on their jumbo loan products.

Community Bancorp's Bernard Fealing Receives Humanitarian Award (Business Wire via Yahoo! Finance)
LAS VEGAS----Community Bancorp , the Las Vegas-based community bank holding company with $1.7 billion in total assets as of September 30, 2007, operating through Community Bank of Nevada and Community Bank of Arizona, today announced that Bernard Fealing has received the Humanitarian Award from the Housing Authority of the City of Las Vegas.

Housing slump to cost city (The Iowa City Press-Citizen)
Iowa City will lose almost $27 million in economic activity next year because of the housing crisis, according to a national financial report released Tuesday.

Watch List (Nov. 25-Dec. 1): Heading for Trouble in 2008 (CoStar Group)
In this week’s issue, a string of reports is painting a much grimmer housing and economic picture in the coming year; at the same time, Moody's tell us it is likely to impact CMBS deals too; and on the bricks and mortar front, Reckson says the same problems...

Credit Crisis Deepens More Nasty Tripwires Ahead (Kitco.com)
“Trader Tracks had previously forecast dates on cycles and time for a global economic crack-up.

Brokers feeling brunt of loan market turmoil (The Business Press)
Mortgage brokers are among the casualties of the financial fallout from the collapsing real estate market and some of them feel the worst may be yet to come.

Behind the meltdown: No-proof loans fed mortgage bubble (The Sacramento Bee)
If you bought a house in the Sacramento area last year, chances are your annual income came to about $80,000. But your loan application said you earned a good deal more.

Shearson Financial Network, Inc. Posts Operating Profit for Third Quarter (Marketwire via Yahoo! Finance)
Shearson Financial Network, Inc. announced today that it has posted an operating profit for the second quarter ending September 30, 2007 of $490,680. The Company posted a net income loss for the quarter of $723,824 of which $939,055 was attributed to losses on the sale of mortgage loans from its discontinued wholesale mortgage banking unit.

Alabama Aircraft Industries, Inc. (Formerly Pemco Aviation Group, Inc.) Reports Third Quarter and First Nine Months of ... (Business Wire via Yahoo! Finance)
BIRMINGHAM, Ala.----Alabama Aircraft Industries, Inc. , a leading provider of aircraft maintenance and modification services to military customers, today announced the operating results of its third quarter and nine months ended September 30, 2007.

25 million reasons they're in trouble (The Scotsman)
GORDON Brown suffered a seismic shock to his premiership yesterday, as it was revealed that the privacy of half the UK's citizens had been compromised.