finance news review on 06 13 2007

-Leh combined two mortgage originator, BNC vs Aurora -both makes riky loans to borrowr not qualified for std loans, BNC Mortage LLC making subprime vs Aurora makes Alt-A -400 jobs cut ironically, in another article, CEO said "We've developed the culture and the trust with employees that lets us reduce pay when times are tough," O' Meara, 46, said "So we can avoid reducing payroll" Mortgage About 2.5 million people will buy homes for the first time this year, down from 3 million in 2005, said Gopal Ahluwalia, staff vice president for research at teh NAHB.