Wednesday evening East Bay Biz Buzz: 1-in-6 odds seen for house-price drop - 2004-02-05
There is about a one-in-six chance that house prices in the East Bay will decrease over the next two years, according to a quarterly forecast by Walnut Creek-based PMI Group Inc. (PMI).

The longest odds confront homeowners in Santa Clara County, where PMI sees nearly a 50-50 chance of a price decline over the next two years. In San Francisco, Marin and San Mateo counties, PMI sees a one-in-five chance of a house price drop during that time frame.
Read the full story at Contra Costa Times

Spokane conglomerate Metropolitan Mortgage files for bankruptcy - 2004-02-05
Metropolitan Mortgage & Securities and Summit Securities has filed for bankruptcy protection yesterday.

The move, which the two troubled companies last weekend had warned was imminent, temporarily halts investor lawsuits and will let Metropolitan and Summit try to merge their operations and reach a deal with their creditors — mainly the people who bought their securities on the promise that they were safe, conservative investments.
Read the full story at Seattle Times