Mortgage and Financial News From 2007-9-5 Page 18

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• Opposition denies convicted fraudster is party financier

  Jamaica Gleaner - The opposition National Democratic Congress (NDC) is denying allegations that a Grenadian man sentenced to a maximum nine-year jail term in New York for his part in a multimillion-dollar mortgage fraud scheme is a major financier of the party. The ...
  2007-09-04 09:55:00

• Daughtery pleads guilty to money laundering

  MSN MoneyCentral - Dack Daugherty pled guilty Tuesday to conspiracy and money laundering in connection with a south St. Louis-operated mortgage fraud ring, according to U.S. Attorney Catherine Hanaway's office. Daugherty admitted to defrauding lenders of more than $500 ...
  2007-09-04 03:29:00

• Rockford woman pleads guilty to mortgage fraud

  Rockford Register-Star - A 45-year-old Rockford woman pleaded guilty Tuesday in federal court to being part of conspiracy to boost mortgage and real estate commissions by falsifying documents so unqualified buyers could receive mortgage loans from the Federal Housing ...
  2007-09-04 03:57:00

• Daughtery pleads guilty to money laundering (St. Louis Business Journal)

  Dack Daugherty pled guilty Tuesday to conspiracy and money laundering in connection with a south St. Louis-operated mortgage fraud ring, according to U.S. Attorney Catherine Hanaway's office.
  2007-09-04 03:09:02

• Loan officer may appeal sentence (Anchorage Daily News)

  A federal judge recently handed a former Anchorage loan officer a 25-month prison sentence and steep fine for his role in securing loans for a mortgage fraud ring.
  2007-09-05 03:13:05

• A wake-up call (Mortgage Introducer)

  The past couple of weeks have seen a couple of shocking fraud stories appearing in the mortgage press, prompting fears that financial crime is on the increase.
  2007-09-05 04:39:55

• Much blame to share in mortgage crisis (Bradenton Herald)

  It's a scary world out there now for homebuyers or people refinancing an existing mortgage. Every day brings new headlines of mortgage lenders declaring bankruptcy or a congressional investigation into mortgage fraud heating up.
  2007-09-05 04:13:12

• AP Business NewsBrief at 8:08 a.m. EDT

  CNBC - MILWAUKEE (AP) _ MGIC Investment Corp. and rival Radian Group Inc. said Wednesday they are abandoning plans to combine the two companies, citing troubles in the mortgage industry. The companies announced a deal on Feb. 6 calling for MGIC to pay about ...
  2007-09-05 05:05:00

• Many top businesses predict growth

  Des Moines Register - Home foreclosures in the subprime market have rippled through the national economy - from forcing mortgage companies into bankruptcy to roiling the stock markets in the United States and overseas. Nine companies said on the survey that they expect to ...
  2007-09-05 01:37:00

• MGIC, Radian call off merger, citing troubles in mortgage market

  Patriot-News - MILWAUKEE (AP) — MGIC Investment Corp. and rival Radian Group Inc. said Wednesday they are abandoning plans to combine the two companies, citing troubles in the mortgage industry. The companies announced a deal on Feb. 6 calling for MGIC to pay ...
  2007-09-05 05:12:00

• US Squeeze Signals Tighter Lending

  Ananova - Analysts are predicting that the recent credit squeeze in the US will result in mortgage lending being tightened up in Europe. In particular, they suggest, banking and mortgage companies will be increasingly reluctant to give 100% loans on property ...
  2007-09-05 03:17:00

• Study: Latinos pay more for home loans

  Santa Cruz Sentinel - Mortgage companies, servicers and Wall Street investors should institute a one-year moratorium on foreclosures involving unaffordable subprime loans and convert these loans from adjustable-rate to fixed rates or by reducing the interest rate or ...
  2007-09-05 04:50:00

• Lay-offs surge 85 pct in Aug vs July: survey

  CNBC - That essentially severed the credit lines to a number of mortgage finance companies, cutting off their ability to fund loans made to U.S. homebuyers. One of the most spectacular collapses occurred when Melville, New York-based American Home ...
  2007-09-05 04:57:00

• MGIC Investment and Radian Group terminate merger

  CNBC - LONDON (Thomson Financial) - MGIC Investment Corporation and Radian Group Inc, two of the nation's biggest mortgage insurers, have announced that they have agreed to terminate their pending merger. The two companies said they mutually agreed that ...
  2007-09-05 04:22:00

• MGIC, Radian cancel combination

  CNBC - MILWAUKEE (AP) - Mortgage insurer MGIC Investment Corp. won't proceed with its acquisition of credit risk management provider Radian Group Inc. because of the challenging conditions in the mortgage markets, the companies said Wednesday. The companies ...
  2007-09-05 05:33:00

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