Mortgage and Financial News From 2007-8-19 Page 19
Previous Day: 2007-08-18
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Old Bridge man admits mortgage fraud (Home News Tribune)
OLD BRIDGE — An Old Bridge man who worked as a licensed appraiser for a Woodbridge real-estate investment company pleaded guilty to conspiracy Thursday in connection with a mortgage-fraud scheme that bilked investors out of more than $50 million.
2007-08-18 08:32:21 -
FBI sees spike in mortgage fraud cases (EARTHtimes.org)
An increase in U.S. foreclosure scams is prompting a spike in mortgage fraud investigations, it was reported Saturday. Dozens of mortgage industry professionals in Houston, Los Angeles, Phoenix and New York have been indicted in recent months for their ro...
2007-08-18 02:38:03 -
FBI sees spike in mortgage fraud cases (Moldova.org)
An increase in U.S. foreclosure scams is prompting a spike in mortgage fraud investigations, it was reported Saturday.Dozens of mortgage industry professionals in Houston, Los Angeles, Phoenix and New York have been indicted in recent months for their roles in a variety of alleged scams operating as recently as June, the Wall Street Journal reported Saturday.The FBI now has 1,200 cases under ...
2007-08-18 02:44:56 -
FBI sees spike in mortgage fraud cases (UPI)
An increase in U.S. foreclosure scams is prompting a spike in mortgage fraud investigations, it was reported Saturday.
2007-08-18 02:29:15 -
Radian Draws on Credit Line, Faces Suits
MSN MoneyCentral - The combined mortgage and credit risk insurance company was expected to have total assets of nearly $15 billion and insure some $290 billion worth of primary mortgages. ___ On the Net: MGIC Investment Corp.: http://www.mgic.com Radian Group Inc.: http ...
2007-08-17 09:31:00 -
Gilbert: Mortgage squeeze could be blessing for Quicken
Detroit Free Press - Even its non-agency loans, for jumbo sums above $417,000 and some second-mortgage products, were to very creditworthy applicants, he said. Quicken, Rock and an affiliated title insurance business employ about 4,800 people, mostly in metro Detroit ...
2007-08-16 01:51:00 -
Fewer choices in mortgage market
Seattle Post Intelligencer - ... Washington-based mortgage brokers, and it will dramatically narrow the choices available to homeowners seeking loans or refinancing, mortgage and real estate experts said Thursday. Also hurt could be home builders, home inspectors, title insurance ...
2007-08-16 12:54:00 -
Mortgage insurer Radian draws on credit line, faces lawsuits
Philadelphia Inquirer - Sam Rudman, an attorney representing shareholders in one of the lawsuits against Radian, said his firm is also looking into suing MGIC Investment Corp., the Milwaukee-based parent of the Mortgage Guaranty Insurance Corporation. MGIC, the country's ...
2007-08-17 07:15:00 -
Mortgage borrowers need ideal credit now
Daily Breeze - Mortgage lenders will look for customers to verify they have "at a bare minimum" two months worth of mortgage, insurance and tax payments in reserves, Green said. For a customer looking to take out a "jumbo" mortgage - a loan for more than $417,000 ...
2007-08-17 09:00:00 -
To all Safari Browser users,
San Francisco Gate - Private mortgage insurance is paid for by the homeowner. Who is the beneficiary? If the lender is the beneficiary, why are we experiencing the 'mortgage meltdown?' Just what is the purpose of PMI?" A: When a home buyer borrows more than 80 percent of a ...
2007-08-15 12:55:00 -
NovaStar Financial, Inc. Announces Reduction in Workforce
Forbes - ... residential property values; our continued status as a REIT and our compliance with laws and regulations applicable to REIT's; interest rate fluctuations on our assets that differ from our liabilities; our ability to acquire mortgage insurance at ...
2007-08-17 04:02:00 -
As bills pile up, churches step in
St. Petersburg Times - We also on occasion bring in lending institutions, mortgage brokers, insurance folk," Murphy said. "But even with all of that, when people have limited income and expenses are constantly on the rise, it makes it difficult to keep their finances in ...
2007-08-19 04:11:00 -
Piggyback mortgage securities get the chop
Marketwatch - When people borrow money to buy a home, they usually need a down payment of at least 20% of the value of the property. Without that, many home buyers had to buy private mortgage insurance. However, earlier this decade mortgage lenders began offering ...
2007-08-16 12:54:00 -
The battle for hearts and minds (Part II)
Jamaica Gleaner - This assumes that your house has a mortgage." The other was: "Lenders require insurance and say so in their mortgage agreements." In short, I said the particular consumer probably had no choice about perils insurance because of the terms in the ...
2007-08-19 04:39:00 -
E*Trade to continue changing mix in loan portfolio
Reuters - E*Trade's first lien mortgage portfolio is supported by high credit scores, low loan-to-value ratios and private mortgage insurance, the company said on Thursday after the market close. In recent years, much of E*Trade's revenue growth has been driven ...
2007-08-17 09:45:00
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