Mortgage and Financial News From 2009-10-8 Page 01
Previous Day: 2009-10-07
Return to the mortgage news archive home.
-
Property investors forced to buy - BBC Business
Investors hit by the downturn and who choose not to complete property deals can still be forced to buy after a court injunction, lawyers have warned. Many buyers, who agreed to purchase city apartments being built in the boom now find values have ...
2009-10-08 06:06:00 -
U.S. judge rules on ex-Bear Stearns manager's email - CNBC
NEW YORK (Reuters) - Prosecutors will not be allowed to suggest to a jury in the trial of two former Bear Stearns hedge fund managers that they believe one defendant tried to hide certain email evidence, a U.S. judge ruled on Thursday. In a sometimes ...
2009-10-08 05:30:00 -
Over 500,000 Home Loan Modifications Underway - Best Syndication
The Obama Administration announced that over 500,000 trial loan modifications are in progress and they have reached this milestone one month ahead of the projected date of November 1st. The Making Home Affordable Program was put into place for ...
2009-10-08 04:12:00 -
Study: Many go through foreclosure without legal help - Newsday
The lack of legal help puts homeowners at a disadvantage, since most laypeople don't know how to negotiate better loan terms or discern whether their lender operated legally, said Melanca Clark of the Brennan Center for Justice at the university, who ...
2009-10-08 08:08:00 -
UPDATE: GMAC, Key For Auto Indus, May Cost Taxpayers A Bundle - CNN Money
A word of advice for U.S. taxpayers looking to recover their $12.5 billion investment in GMAC Inc.: Don't hold your breath. For GMAC, the continuing torrent of red ink at its battered mortgage unit means more funds will likely have to be deployed to ...
2009-10-08 06:21:00 -
Vegas men arrested in alleged mortgage scam against elderly - Las Vegas Sun
Thomas F. Gentile, 56, and Julio C. Martinez, 61, are in custody after they were allegedly involved in a scam to obtain a mortgage loan against a property owned by Gentile's former employer, without knowledge or consent, Masto said. An arrest warrant ...
2009-10-08 03:50:00 -
12 face federal charges in NY mortgage fraud case - CNBC
NEW YORK - Twelve people are accused of buying dozens of properties in New York and Long Island using $9 million in fraudulent home loans. Federal and state prosecutors say the plotters included mortgage brokers, loan officers and lawyers. They were ...
2009-10-08 03:36:00 -
Homeowners to receive £60m PPI mortgage insurance refund - The Guardian
Mortgage payment protection insurance providers that have raised borrowers' premiums or reduced the level of cover will have to pay back around £60m to consumers, the City watchdog announced today. There are around 2m mortgage insurance policies in ...
2009-10-06 06:59:00 -
Today's Mortgage Rates Under 5, Applications Rise - HULIQ.com
According to the Mortgage Bankers Association the current mortgage rates are officially under 5% with purchase applications jumping 13.2% and refinance applications jumping a whopping 18.2% compared to the previous week’s results. Remember when we ...
2009-10-08 09:59:00 -
FHA may be setting up repeat of housing bubble, lawmakers worry - Los Angeles Times
Reporting from Washington - In the wake of the mortgage meltdown, the Federal Housing Administration has emerged as a pillar of the still wobbly housing market -- providing vital insurance that enables borrowers to qualify for loans with as little as ...
2009-10-08 03:43:00 -
HSBC fee waiver to lure clients - Hong Kong Standard
Hongkong and Shanghai Banking Corp has offered to waive fees for customers of 10 of its popular investment, insurance, mortgage and personal loan products. The offer is open to clients who terminate their products within 30 days of purchase. "We ...
2009-10-08 02:31:00 -
Concerns Growing Over Another Mortgage Giant - New York Times
WASHINGTON — First it was Fannie Mae and Freddie Mac . Now concern is growing that another government mortgage giant might teeter, just as the nation’s housing market is stabilizing. A year after Fannie and Freddie were effectively nationalized ...
2009-10-08 02:10:00 -
Mortgage insurance holders to receive refunds - Financial Times
Lenders and insurers are to refund up to £60m ($96m) to more than 1m mortgage payment protection insurance customers hit by unfair premium rises or cuts to their policy benefits. The Financial Services Authority on Wednesday announced it had secured ...
2009-10-08 01:41:00 -
Triad Guaranty To Sell Mortgage Insurance Operating Platform To Essent ... - RTT News
(RTTNews) - Wednesday, Triad Guaranty Inc. (TGIC: News ) said it has reached a definitive agreement to sell its information technology and operating platform to Essent Guaranty, Inc. a new mortgage insurer founded to provide private capital to ...
2009-10-07 05:17:00 -
Issaquah real estate agent, wife face prison in mortgage fraud case - Issaquah Press
The last of seven people charged in a $47 million mortgage fraud scheme pleaded guilty Oct. 2. Federal authorities said the scheme included Issaquah real estate agent David Sobol, 40, and his wife, Alla Sobol, 28. Agents arrested the Sobols and five ...
2009-10-08 12:58:00