Mortgage and Financial News From 2009-10-16 Page 01
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Florida's Mortgage Fraud Task Force - 24-7PressRelease.com
Even before the national subprime problem became a full-blown crisis in 2007-2008, mortgage fraud was a serious problem in Florida. According to the Mortgage Asset Release Institute, Florida ranked second in the nation for reported mortgage scams in ...
2009-10-16 02:05:00 -
Convicted telemarketing tycoon now facing mail fraud charge - St. Petersburg Times
TAMPA — Peter Porcelli, the telemarketing tycoon who poured part of his fortune into the former world champion Tampa Bay Smokers fast-pitch softball team, has been indicted on a mail fraud charge in connection with a mortgage foreclosure program ...
2009-10-16 10:22:00 -
Bethesda Woman Sentenced in Mortgage Fraud - WJLA
BETHESDA, Md. - Federal prosecutors say a Bethesda woman has been sentenced to two years in prison for her role in mortgage fraud tied to 25 properties in Maryland, D.C. and Virginia worth millions. Forty-four-year-old Sabrina Weinberg was sentenced ...
2009-10-16 04:45:00 -
Briarcliff Manor woman among 41 charged in mortgage-fraud probe - LoHud.com
A Briarcliff Manor real estate broker was among 41 people charged in a series of mortgage fraud indictments announced Thursday by federal prosecutors. Lavette Bills, 37, who hosted a radio program touting her services as a "foreclosure specialist" to ...
2009-10-16 06:04:00 -
Move to plug the holes in mortgage umbrella - Scotland on Sunday Online
MORE than a million homebuyers are set to share £60 million compensation after insurance companies reneged on mortgage protection cover, just as unemployment soared and the housing market went into freefall. This is the second major shaming of the ...
2009-10-10 04:38:00 -
After years of delays, Central Bank & Trust to open next month - Colorado Springs Gazette
Central Bank & Trust will open in downtown Colorado Springs next month, two years later than bank founders had hoped. The Federal Deposit Insurance Corp., the Federal Reserve Bank of Kansas City, Mo., and the Office of the Comptroller of the Currency ...
2009-10-16 01:32:00 -
HUD to help overhaul L'Anse hospital - Detroit Free Press
The mortgage loan to Baraga County Memorial Hospital in L'Anse is being made through the Federal Housing Administration’s Section 242 Hospital Mortgage Insurance Program and will go toward a new 71,000-square-foot facility with 15 acute care beds ...
2009-10-16 09:43:00 -
MGIC results sock mortgage insurers - Marketwatch
NEW YORK (MarketWatch) -- Shares of mortgage investment and insurance firm MGIC Investment Corp fell almost 20% on Friday and dragged down other industry payers with after it posted a larger-than-expected loss. MGIC said its third-quarter loss was ...
2009-10-16 12:13:00 -
CMHC's growth fuels worries over new risks - Globe and Mail
T he federal government has quietly given Canada Mortgage and Housing Corp. more financial muscle, raising concerns the multibillion-dollar agency is expanding at an unprecedented pace with little oversight. For the second time since the beginning of ...
2009-10-16 06:47:00 -
MGIC Declines After Posting Ninth Consecutive Loss (Update2) - Bloomberg
Oct. 16 (Bloomberg) -- MGIC Investment Corp. , the largest U.S. mortgage insurer, fell 12 percent as the company’s quarterly loss quadrupled after a record number of homeowners failed to meet mortgage payments. MGIC dropped 90 cents to $6.42 at 4 ...
2009-10-16 03:48:00 -
Loan Modification - 5 Lies You Need to Know About - Best Syndication
If you watch the news on any given evening you are almost certain to see a story regarding the current real estate crisis. Foreclosure is a circumstance that many American families are facing and many of them will attempt to modify their mortgage ...
2009-10-16 04:52:00 -
BofA posts US$1-billion Q3 loss as consumer credit hurts - Financial Post
Merrill Lynch & Co. Inc. CHARLOTTE, N.C./NEW YORK -- Bank of America Corp posted a US$1-billion quarterly loss on Friday as consumer credit woes eclipsed investment banking earnings, underlining why the bank remains on a government respirator. The ...
2009-10-16 03:55:00 -
Mortgage rates: A high-stakes game of low returns - The Guardian
Is Britain entering a prolonged period of ultra-low interest rates ? According to a major report this week, interest rates will stay at rock bottom for years as the government tackles the UK's wounded economy. If so, it's likely to reshape our whole ...
2009-10-16 06:40:00 -
CA-BUSINESS Summary - ReportonBusiness.com
TORONTO (Reuters) - The TSX closed flat on Friday as Toronto Dominion Bank and other banks fell after Bank of America Corp reported a quarterly loss, but gold-mining shares provided some lift. With the price of gold firming, four gold-mining shares ...
2009-10-16 05:14:00 -
New FHA condo rules may hinder mortgages - Nashua Telegraph
Mortgage rates rose, breaking a six-week run of declines. The average 30-year fixed-rate mortgage jumped 10 basis points, to 5.32 percent. A basis point is one-hundredth of a percentage point. Meanwhile, this week’s average 15-year fixed-rate – a ...
2009-10-16 05:28:00