Mortgage and Financial News From 2010-6-24 Page 01
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Man gets two years in prison for defrauding clients of their investment money
A man who defrauded his clients out of more than a half a million dollars was sentenced to two years in jail today in provincial court in St.
2010-06-24 02:37:50 -
Royal, TD trim some mortgage rates
Two of Canada's big banks announced Thursday they will drop some posted mortgage rates by 1/10th of a percentage point.
2010-06-24 02:45:30 -
The SEC Just Opened A Huge Window Into JPMorgan Repurchase Liabilities
The Securities and Exchange Commission (SEC) recently took a much needed step towards improving the transparency of bank balance sheets, particularly when it comes to the adequacy of reserves for mortgage repurchase obligations stemming from banks' violations of representations and warranties.
2010-06-24 03:18:45 -
Supreme Court sets aside Skilling, Black convictions
The US Supreme Court on Thursday set aside some convictions of former Enron Chief Executive Jeffrey Skilling and former media baron Conrad Black, a setback for the US Justice Department in some of its biggest corporate fraud prosecutions of the last decade.
2010-06-24 03:22:29 -
Farkas free; mum on charges
By Austin L. Miller Staff writer Lee Farkas posted bond and walked out of the Marion County Jail on Thursday afternoon into blinding sunshine and scorching heat.
2010-06-24 03:28:23 -
High Court Restricts Suits by Foreign Investors
The Supreme Court has put new limits on foreign investors who want to use United States securities law and domestic courts to sue foreign firms for fraud.
2010-06-24 03:42:22 -
Biz Break: Apple's iPhone 4 arrives in Silicon Valley
Today: The iPhone 4 sells out at some Apple Stores. Plus: Brocade's former CEO is sentenced. Oracle and Research In Motion report earnings. Just try to stop your employees from social networking, a Cisco survey warns.
2010-06-24 03:57:05 -
Ex-stripper in judicial scandal pleads guilty to fraud
A former stripper whose accusations unseated a state judge pleaded guilty today to federal bank fraud.Christy Yamanaka went public two years ago about her relationship with former state appeals court Judge Thomas E. Stringer, providing News Channel 8 and The Tampa Tribune with documentation that Stringer helped hide her financial assets from creditors and a bankruptcy court.
2010-06-24 04:05:00 -
N.L. mortgage fraudster gets 2 years
Sterling Norman, a former Newfoundland and Labrador mortgage broker, was sentenced to two years in federal prison Thursday in St. John's after pleading guilty to mortgage fraud and running a Ponzi scheme.
2010-06-24 04:31:52 -
For-profit colleges: Do they shortchange students?
For-profit colleges have come under government scrutiny for alleged practices driven more by profit margins than by educational goals. A Senate committee held a hearing on the issue Thursday.
2010-06-24 05:27:08 -
Market Commentary and Intraday News
WASHINGTON (AP) _ Mortgages are cheaper today than they've been in a half-century. If only most people had the job security, the credit score and the cash to qualify.
2010-06-24 05:28:23 -
Fairfield Family Indicted For Mortgage Fraud
A federal grand jury handed up a case against a family accused of gleaning 1.3 million dollars from a scheme to borrow excessive money against over-valued real estate.
2010-06-24 05:34:26 -
Business Highlights
Mortgage rates at lowest point since mid-1950s
2010-06-24 05:45:51 -
HMP locked down for investigation
Her Majesty's Penitentiary was locked down for a security investigation that began Wednesday and continued until Thursday afternoon.
2010-06-24 05:47:02 -
Gary S. Chafetz: SUPREME COURT FINALLY GUTS HONEST-SERVICE FRAUD
Today, in a unanimous decision, the Supreme Court gutted the honest-services fraud statute --"depriv[ing] another of the intangible right of honest services"--declaring it unconstitutionally vague....
2010-06-24 07:28:58