Mortgage and Financial News From 2007-9-5
Previous Day: 2007-09-04
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Money pit? Housing bust gets worse
MSNBC - ... to Asha Bangalore, an economist at Northern Trust in Chicago. The demand for mortgage brokers in Las Vegas was so strong that "every stripper, waiter and bartender on the Strip had a broker's license," says Boyd Nyborg, a former mortgage broker who ...
2007-09-03 02:30:00 -
Asian Currencies Rise as Global Funds Purchase Regional Assets
Bloomberg - The Philippine peso gained 0.2 percent to 46.665, according to Tullett Prebon Plc, the world's second- largest inter-dealer broker. The Indonesian rupiah advanced 0.1 percent to 9,400, according to data compiled by Bloomberg. Indonesia's ...
2007-09-05 02:41:00 -
Cathlene Dawn Caldwell
OregonLive.com - She later lived in Gervais and was a mortgage broker for Town & Country Home Loans. She was a member of the church. She married Chris Bernhardt; they divorced. Survivors include her sons, Jacob Bernhardt and Joshua Bernhardt; daughter, Rachel ...
2007-09-04 05:45:00 -
Fed's move on foreclosure too slow to help, some say
Rocky Mountain News - I think the Fed is doing all it can to encourage the mortgage companies to work with distressed borrowers," said Denver mortgage broker and consultant Jim Spray. "Many of the larger mortgage companies are already working on modifying mortgages. Some ...
2007-09-04 11:07:00 -
Lending Crunch Hits Hill Country Housing Market
KXAN - They're running out of money to lend, they're suffering losses because of these high-risk loans," said mortgage broker Monica McMulin. "You have job loss, disabilities, different things that can happen, life factors that effect whether you can pay ...
2007-09-04 07:53:00 -
Realty agents tipped to scams, liability
Modesto Bee - If a home buyer exaggerates his income on a loan application and his mortgage broker and real estate agent go along with the lie, Ferreira said they all are guilty of fraud. "I don't care how big the commission you're getting is, you're risking being ...
2007-09-05 03:53:00 -
Ads often target troubled borrowers
The State - Patricia Clemons had a serious heart condition and was living on a $1,094-a-month disability check when she answered a letter from a Florida mortgage broker in 2004. “When it came in the mail, it was telling me how much my mortgage was ... and they ...
2007-09-04 08:51:00 -
Mortgage applications up 1.3% last week: MBA
Marketwatch - CHICAGO (MarketWatch) -- The number of mortgage applications filed last week ticked up a seasonally adjusted 1.3% while mortgage interest rates barely moved, the Mortgage Bankers Association said Wednesday. The volume of applications for all loans in ...
2007-09-05 04:29:00 -
Offset the cost of their school fees
Daily Telegraph - Ray Boulger of John Charcol, the mortgage broker, says: "Parents can simply remortgage and take out a bigger loan to release the equity in their home. This should be a fairly straightforward process if their property has increased in value since they ...
2007-09-05 04:00:00 -
Indictment against Kontogiannis not dismissed
San Diego Union-Tribune - The indictment against a New York mortgage broker set to go on trial next month in a case stemming from the Randy “Duke” Cunningham investigation will not be dismissed, a federal judge ruled Tuesday. In a lengthy afternoon hearing prosecutors ...
2007-09-04 05:52:00 -
Study says more minorities ended up with high-cost mortgages
San Francisco Gate - When someone meets with a mortgage broker, the broker is more likely to immediately offer the white borrowers a better loan. We can only guesstimate whether it is prejudice, thinking (minority) people are ignorant. A lot is focused marketing. In ...
2007-09-05 04:07:00 -
Ads often target troubled borrowers (The State)
Patricia Clemons had a serious heart condition and was living on a $1,094-a-month disability check when she answered a letter from a Florida mortgage broker in 2004. “When it came in the mail, it was telling me how much my mortgage was ... and they were saying we can refinance you for this much, and it was only up a few more dollars,” said the St. Petersburg resident, 62. Weeks later, pressured ...
2007-09-04 09:18:23 -
Financier's indictment stands, judge rules (San Diego Union-Tribune)
The indictment against a New York mortgage broker set to go on trial next month in a case stemming from the Randy “Duke” Cunningham investigation will not be dismissed, a federal judge ruled yesterday.
2007-09-05 02:13:38 -
Frank prepares bill to curb predatory mortgage lending (The Hill)
The wave of defaults in the sub-prime mortgage market has increased momentum for legislation to rein in lending abuses.
2007-09-04 04:38:39 -
European shares weaken after strong run; Vedanta gains (Market Watch)
LONDON (MarketWatch) -- European shares pulled back from their recent strong run Wednesday, with French carmaker Peugeot extending losses in the wake of a poorly received strategy presentation and U.K. mortgage lender Northern Rock trading down after a critical broker note.
2007-09-05 01:15:32