Home building slump may forge new planning for LI (Newsday)
Long Island's new-home-construction industry, which has been shrinking for years, is now scraping the bottom, with building permit applications across the region plummeting to one of their lowest levels in half a century.

NetBank's shutdown due to mortgage defaults (The Post-Standard)
Washington NetBank Inc., an online bank with $2.5 billion in assets, was shut down by the government Friday because of an excessive level of mortgage defaults.

Three New Century directors resign (The Star Online)
DELAWARE: Three directors including two co-founders of New Century Financial Corp, the biggest subprime lender in bankruptcy, resigned from the company's board.

Mortgage service center opens in Scottsbluff (Scottsbluff Star-Herald)
Gov. Dave Heineman said the construction of a new office by Aurora Loan Services in Scottsbluff is not only beneficial to the valley but the entire state.

New Century's Chairman Resigns (AP via Yahoo! Finance)
New Century Financial Corp. said Friday the mortgage lender's chairman and vice chairman resigned from the company's board this week.