Mortgage and Financial News From 2007-8-19 Page 17

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  • Hong Kong GDP speeds up to 6.9 pct growth in second quarter (People's Daily)

    Hong Kong economy expanded briskly in the second quarter of 2007, with GDP speeding up to a 6.9 percent growth over a year earlier, up from a revised 5.7 percent in the first quarter, the government said Friday. The overall GDP growth ...
    2007-08-18 04:44:36

  • Real Estate Weekly -- Aug. 17 (Market Watch)

    Most borrowers refinancing their adjustable-rate mortgages turned to fixed-rate products in the second quarter, Freddie Mac said this week. But ARMs became a bit more attractive during the time period, as the spread in rates widened between fixed-rate mortgages and those with adjustable rates.
    2007-08-17 07:34:37

  • Oak Ridge Financial Services Announces Second Quarter Earnings (Business Wire via Yahoo! Finance)

    OAK RIDGE, N.C.----Oak Ridge Financial Services, Inc. , the holding company for Bank of Oak Ridge, today reported diluted earnings per share of 7 cents for the second quarter of 2007, compared with a diluted earnings per share of 18 cents for the same period of 2006.
    2007-08-18 07:55:00

  • Buying a second home (CW Arkansas)

    Generally, a second home is a place of residence that an owner uses secondary to his or her private residence. Some people buy second homes for either investment purposes or to use as a vacation house.
    2007-08-18 04:22:40

  • First Magnus Stops Funding Mortgages, Recorded Message Says (Bloomberg.com)

    Aug. 16 (Bloomberg) -- First Magnus Financial Corp., the second-largest privately held U.S. mortgage lender, will stop funding new mortgages, according to a recorded message on a customer-service line.
    2007-08-16 05:26:23

  • European Debt Posts Second-Biggest Gain Since Sept. 11, 2001 (Bloomberg.com)

    Aug. 18 (Bloomberg) -- European two-year notes posted their second-biggest weekly gain since Sept. 11, 2001, as credit market turmoil linked to losses on U.S. subprime mortgages spread.
    2007-08-18 08:45:36

  • Gaithersburg Man Admits to Equity-Skimming Scam

    Washington Post - ... tweaked the state's real estate laws in 2005 in an effort to protect people at risk of losing their homes, saying fraud and ... property, and at the end of the year the property is sold back to the original owner if that person can obtain a new mortgage. ...
    2007-08-19 04:18:00

  • Next wave in subprime mess could be fraud charges

    International Herald Tribune - WASHINGTON: The next chapter of the subprime-lending debacle could include fraud charges for investment banks and companies ... Many subprime mortgages are packaged into mortgage-backed securities and collateralized debt obligations, bundles of ...
    2007-08-17 10:50:00

  • McFadden-Weaver's conviction another stain on Kansas City Hall

    Kansas City Star - McFadden-Weaver, a former City Council member, was convicted Thursday on mortgage fraud charges. Justice was done when the jury rejected her implausible defense that she hadn’t comprehended what she was doing when she signed loan applications for a ...
    2007-08-17 05:28:00

  • Streetwise: Invest in companies that have products we use every day

    Pittsburgh Post-Gazette - Nobody would have been able to sell those bonds without the ratings," said Ohio Attorney General Marc Dann, who is investigating the rating agencies for possibly aiding and abetting mortgage fraud. "That relationship was never disclosed to anybody." ...
    2007-08-19 04:18:00

  • Lawsuit charges fraud

    Courier-Post - This is a scam artist taking advantage of a mortgage crisis." Goodwin could not be reached for comment Friday. The state also ... as well as maximum penalties and our own attorney fees and cost, which we're permitted to seek through the Consumer Fraud ...
    2007-08-18 07:04:00

  • Disbarred Pensacola attorney gets 4 years on felony charges

    Miami Herald - Whibbs Jr., 62, pleaded no contest in July to charges of racketeering, grand theft and mortgage fraud involving the theft of $683,827. When Whibbs entered his plea last month, his attorney, Barry Beroset, said his client did not dispute the charges ...
    2007-08-17 10:07:00

  • Felon drives dizzying web of house deals

    St. Petersburg Times - by John 04/29/07 11:55 AM Have inflated appraisals helped fuel the current surge in foreclosures by credit-strapped borrowers? Are they at the core of many mortgage fraud schemes? The four largest appraiser trade groups say yes and they are asking ...
    2007-08-18 07:18:00

  • New sentences in 'nBank' fraud

    Access North GA - NEWNAN - Several mortgage brokers and their companies were sentenced Friday in the $11 million dollar bank fraud scheme that resulted in the closure of a Commerce bank called 'nBank'. Another, nBank officer Ronald Walton of Buford, was sentenced last ...
    2007-08-17 08:55:00

  • Ex-council member in KC convicted in wire fraud case

    Wichita Eagle - KANSAS CITY, Mo. - A former Kansas City council member was found guilty of mortgage fraud Thursday when a federal jury agreed that she intentionally misrepresented information on home loan applications. Saundra McFadden-Weaver was convicted on all ...
    2007-08-17 05:39:00

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