Mortgage and Financial News From 2007-11-16 Page 15

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• Mortgage rates remain at 6.24% (Daily Press)

  Rates on 30-year mortgages were unchanged this week, after posting three consecutive declines. Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages remained at 6.24 percent, the same as last week. It's the lowest since rates were at 6.21 percent in mid-May. A year ago, 30-year mortgages stood at 6.24 percent.
  2007-11-16 01:05:09

• November 2007

  Palm Beach Interactive - So, with the help of the book Protect Yourself from Real Estate and Mortgage Fraud by Ralph Roberts and Rachel Dollar , I offer these scam warning signs. That deal you’re involved in just might be a scam if: An agent or buyer inflates the price to ...
  2007-11-14 03:56:00

• Business Minute: Stocks stumble...Oil steady...Starbucks profit

  Idaho8.com - The bill, which was passed by the House yesterday, is going up against opposition from the mortgage industry and criticism from the White House. SEATTLE (AP) - Starbucks' healthy fiscal fourth quarter is not helping calm investors' jitters. The ...
  2007-11-16 02:54:00

• Mortgage bill faces hurdles

  Long Island Business News - The Washington-based National Community Reinvestment Coalition said the bill doesn't do enough to make banks that package mortgage securities -- and the institutional investors who buy them --legally responsible for fraud committed by lenders. "What's ...
  2007-11-16 06:14:00

• Troubles rise with foreclosures

  Hampton Roads Daily Press - Eighty-five bungalows dot the cul-de-sac that joins West Ontario Avenue and East Ontario Avenue in Atlanta. Twenty-two are vacant, victims of mortgage fraud and foreclosure. Now house fires, prostitution, vandals and burglaries terrorize the ...
  2007-11-16 03:08:00

• Buying In Brickell? Proceed At Own Risk

  Click10.com - MIAMI -- A newly released report says Florida leads the nation when it comes to mortgage fraud. That does not come as a surprise at all to Glenn Theobald. He heads up Miami-Dade County's newly formed mortgage fraud task force. "This is just ...
  2007-11-16 05:38:00

• Northern Rock Property Consultant Sues DLA Over Mortgage Fraud

  Bloomberg - Nov. 16 (Bloomberg) -- A Northern Rock Plc property consultant is suing London law firm DLA alleging negligence related to mortgage-loan fraud. Northern Rock advanced 6.8 million pounds ($13.8 million) on 10 properties in which DLA allegedly failed ...
  2007-11-16 08:09:00

• Buying In Brickell? Proceed At Own Risk (WPLG Click10.com via Yahoo! News)

  A newly released report says Florida leads the nation when it comes to mortgage fraud. That does not come as a surprise at all to Glenn Theobald. He heads up Miami-Dade County's newly formed mortgage fraud task force.
  2007-11-16 04:42:13

• Man Sentenced For Medicaid Fraud Scheme (KPRC Local 2 Houston)

  HOUSTON -- A Fresno man was sentenced Thursday after he pleaded guilty to masterminding a Medicaid fraud scheme, KPRC Local 2 reported.
  2007-11-16 08:48:23

• Man indicted in mortgage fraud probe (Columbus Ledger-Enquirer)

  Robin S. Ligon faces 27 counts of mail and wire fraud in what a federal indictment describes as a complicated scheme to defraud mortgage lenders with falsified documents that inflated both borrower incomes and the value of some local properties backing more than $2 million in loans.
  2007-11-16 12:14:26

• Goldman Sees Subprime Cutting $2 Trillion in Lending (Update5)

  Bloomberg - The effects may be amplified tenfold as companies that borrowed to finance their investments scale back lending, the report said. ``The likely mortgage credit losses pose a significantly bigger macroeconomic risk than generally recognized ...
  2007-11-16 08:09:00

• Post-retirement income

  Hindustan Times - Banks and housing finance companies determine the interest rate on reverse mortgage according to the risk perception and loan pricing policy, among other things. Then, there is the quantum of the loan. This varies from bank to bank, ranging from 60 ...
  2007-11-16 08:51:00

• Foreclosure rate explodes in Fairfax County

  San Francisco Examiner - The problem won’t abate until 2008, Deputy Fairfax County Executive Ed Long predicted, with mortgage companies now trying to clean up their practices. He said the number of foreclosures was still only a fraction of the 233,000 residential ...
  2007-11-16 07:18:00

• Stocks fluctuate amid lackluster news

  Miami Herald - ... further souring of loans and will be forced to write down more than the $45 billion seen in the third quarter and the $30 billion companies have outlined for the fourth quarter. Reports late Thursday said Residential Capital, the troubled mortgage ...
  2007-11-16 09:34:00

• Huntington sees surprise loss from mortgage client

  Washington Post - Midwest regional bank, projected a surprise fourth-quarter loss on Friday to reflect mounting mortgage losses at a ... Columbus, Ohio, joins a growing number of U.S. banks to suffer from the U.S. housing slump, which has forced many companies ...
  2007-11-16 09:34:00

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