Mortgage and Financial News From 2007-12-18 Page 31
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More mortgage relief is urged
Seattle Times - WASHINGTON — Support is growing on several fronts in Washington, D.C., for mortgage-industry reforms and homeowner-assistance programs with broader potential impact than the Bush administration's plan to freeze interest rates on a small percentage ...
2007-12-18 12:14:00 -
Fed Will Limit Penalties on Prepayment of Subprime Mortgages
Bloomberg - The Fed has already cut its benchmark interest rate by a full percentage point since September, while the Bush administration negotiated a freeze of up to five years on some subprime mortgage rates. New Requirements Fed staff ...
2007-12-17 09:44:00 -
Mortgage crunch hitting Midwest particularly hard (The Charlotte Observer)
Michigan and Ohio share with Florida and California some of the nation's highest rates of foreclosed homes and delinquent mortgages. But the reasons for their woes are as different as their climates. Battered by a declining manufacturing base, stagnant population growth and low demand for housing, Michigan and Ohio rank No. 1 and 2 on mortgage finance company Fannie Mae's list of states with the ...
2007-12-18 12:13:00 -
About the series
Detroit Free Press - ... Woods have tried to fight back by researching real-estate records, reaching out to banks, pressuring the city to cite owners whose properties are violating ordinances and working with the Wayne County Prosecutor's Office over possible mortgage fraud ...
2007-12-17 11:06:00 -
Mortgage Fraud Bust Nets Husband And Wife Arrests
CBS 4 South Florida - MIAMI (CBS4) ― Mortgagees who inflate the numbers when applying for a home loan in order to cash in on a profit are the new target of the U.S. Attorney's Office in South Florida, and if you are one of the people who facilitate this, you too may be ...
2007-12-16 03:54:00 -
New plans aimed at housing needs
Seattle Post Intelligencer - The Legislature also will take up recommendations from Gregoire's Task Force on Homeowner Security to, among other things, limit mortgage prepayment penalties, ban mortgages where balance actually increase every month and make mortgage fraud a felony
2007-12-17 01:44:00 -
Stilwell builder pleads guilty in fraud case
MSN MoneyCentral - A Stilwell builder pleaded guilty Monday to two counts of conspiracy to commit bank fraud and admitted that he had taken part in a $25 million mortgage fraud scheme, U.S. Attorney Eric Melgren said Monday. Steve Middleton, 46, admitted that he had ...
2007-12-17 01:15:00 -
Federal agents charge 31 people in mortgage loan fraud
Fort Lauderdale Sun-Sentinel - Federal officials in Miami announced charges Monday against 31 people accused of participating in a scheme to illegally obtain mortgage loans worth roughly $14 million. Prosecutors said the group's leaders secured inflated loans for the purchase of ...
2007-12-17 09:29:00 -
Nine people, one company indicted in mortgage fruad (KTVF Fairbanks)
A federal grand jury has indicted nine people and one corporation in a $1.7 million fraud scheme.
2007-12-17 05:34:05 -
31 indicted for home loan fraud (BizJournals)
Federal prosecutors in Miami-Dade County unsealed an indictment Monday, charging 31 defendants in a multimillion-dollar home loan fraud.
2007-12-17 02:46:18 -
Banks crack down on mortgage fraud (Financial Times)
Banks are seeking to crack down on mortgage fraud as evidence mounts of a rise in the number of fraudulent borrowers. Abbey and Lloyds TSB are among the banks reporting a surge in the volume of potentially fraudulent mortgage applications in recent months.
2007-12-14 08:45:57 -
Mortgage Fraud Bust Nets Husband And Wife Arrests (CBS4 Miami)
Mortgagees who inflate the numbers when applying for a home loan, in order to cash in on a profit are the new target of the U.S. Attorney's Office in South Florida, and if you are one of the people who facilitate this, you too may be in trouble.
2007-12-17 07:33:47 -
Stilwell builder pleads guilty in fraud case (BizJournals)
A Stilwell builder pleaded guilty Monday to two counts of conspiracy to commit bank fraud and admitted that he had taken part in a $25 million mortgage fraud scheme, U.S. Attorney Eric Melgren said Monday.
2007-12-17 01:07:09