Washtenaw Group posts loss as mortgage refinance activity fall of - 2005-03-07
The Washtenaw Group Inc., holding company for Washtenaw Mortgage Co., declared a net loss for 2004, citing significantly lower mortgage refinancing volume.

The Ann Arbor-based Washtenaw Group posted a net loss of $6.4 million or $1.43 a share on revenue of $17.7 million for the year, compared with net income of $9.5 million or $2.14 on revenue of $57.9 million in 2003.
Read the full story at Crain's Detroit Business

Greenspan-Predicted Rise in Savings Rate May Be Years Away - 2005-03-07
When it comes to the U.S. savings rate, Federal Reserve Chairman Alan Greenspan may be involved in a little ``irrational exuberance.''

Greenspan told a conference in London on Feb. 4 that the jump in U.S. house prices may cool off, prompting Americans to begin saving more income rather than pouring money into home mortgages that later are refinanced to get cash for spending.
Read the full story at Bloomberg