Mortgage and Financial News From 2008-7-16 Page 4
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Five Guilty Pleas In Mortgage Fraud Scheme - KXNT.com
Five people have entered guilty pleas in connection with a federal crackdown of mortgage fraud across the country. Prosecutors say the five have admitted to various counts in the case. Las Vegas mortgage broker Eva Mazzarella, her husband Steven ...
2008-07-14 07:14:00 -
Two women sentenced for defrauding banks of $14M - Newark Star-Ledger
A federal judge sentenced two women today to more than a decade in prison for defrauding several banks out of more than $14 million in a home-flipping scheme in North Jersey. U.S. District Judge Jose Linares also ordered the women to pay $12.4 ...
2008-07-16 02:57:00 -
Federal Reserves New Rules Won't Protect Consumers - MSN MoneyCentral
LOS ANGELES , July 14 /PRNewswire/ -- AJ Consumer Watch was founded by Alan Jablonski , a prominent Southern California consumer rights attorney and California mortgage broker. His soon to be published book "Successfully Navigating the Mortgage Maze ...
2008-07-14 03:43:00 -
U.S. markets post strong gains - United Press International
NEW YORK, July 16 (UPI) -- U.S. stock indexes posted strong gains Wednesday with a rebound in financial concerns. Shares of the Federal Loan Mortgage Corp., the troubled U.S. mortgage broker, gained 30.42 percent, as mortgage financing as a group ...
2008-07-16 01:24:00 -
New Mortgage Regulations Come Just A Tad Late - Nuwireinvestor.com
The Fed approved some new measures Monday meant to crack down on what they deem to be deceptive lending practices. Because most of these problems have already worked themselves out, thanks to the whole credit crisis thing going on, these measures ...
2008-07-16 11:23:00 -
US mortgage woes show credit crisis isn't over - New Zealand Herald
The troubles faced by US mortgage giants Freddie Mac and Fannie Mae have shown the US credit crisis, which has decimated the New Zealand sharemarket and pushed local mortgage rates higher, is far from over. The two US mortgage finance lynchpins ...
2008-07-16 11:37:00 -
Fed's Hoenig: Don't wait too long to raise rates - Reuters
DURANGO, Colo. (Reuters) - The U.S. Federal Reserve must not wait too long before raising interest rates or it risks a serious problem with inflation, one of its top policy-makers said on Wednesday. "While the current accommodative stance of monetary ...
2008-07-16 12:06:00 -
Homebuilder Sentiment Falls to Record Low in July - CNBC
U.S. homebuilder sentiment dropped to a record low in July as the confluence of falling home prices, rising energy costs and unemployment turned buyers away, the National Association of Home Builders said. The NAHB/Wells Fargo Housing Market index ...
2008-07-16 09:57:00 -
Here's looking at you, sellers - Chicago Tribune
Home financing news is usually aimed at buyers--take reports on interest rates or a new type of mortgage. Here, though, are some tidbits that may help owners facing the challenge of selling: Either a seller or a borrower a homeowner can be, but not ...
2008-07-16 11:23:00 -
US inflation soars; home builder sentiment crumbles - Forbes
NEW YORK (Reuters) - U.S. inflation accelerated in June to its fastest rate since the aftermath of Hurricane Katrina in 2005 while workers' earnings slumped, compounding the stagflationary dilemma facing the Federal Reserve. A separate report showed ...
2008-07-16 01:46:00 -
Bernanke: Economy in "rough time" - MSN MoneyCentral
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke told a House of Representatives panel on Wednesday the U.S. economy is going through a "rough time" and urged lawmakers to approve Treasury Department proposals to back up mortgage markets ...
2008-07-16 01:32:00 -
Need a mortgage now? Bring lots of cash - CNN Money
NEW YORK (CNNMoney.com) -- Are you ready to buy a house in this crazy market? Better bring a boatload of money to the closing. In a brutal real estate market where all the players want to hedge against the tremendous risks, down payment requirements ...
2008-07-16 11:16:00 -
Banks of all sizes are facing trouble - Gainesville Sun
CHARLOTTE, N.C. - In the nearly steady stream of bad news about banks, many consumers are likely wondering if any bank is really safe. Those companies that did not go heavily into the subprime mortgage market are generally in better shape. But ...
2008-07-16 04:42:00 -
FBI mortgage probe expands to 21 firms from 19 - Washington Post
Resize WASHINGTON (Reuters) - The FBI's investigation into potential corporate fraud in the U.S. home mortgage industry now encompasses 21 companies, up from 19 reported in April, a bureau spokesman said on Wednesday. "It's up to 21 now," FBI ...
2008-07-16 10:54:00 -
Fannie Mae, Freddie Mac Rise After 5 Days of Losses (Update3) - Bloomberg
July 16 (Bloomberg) -- Fannie Mae and Freddie Mac rose, ending five days of losses that saw their shares slump 60 percent on concern that U.S. Treasury Secretary Henry Paulson 's plan to prevent a collapse of the companies won't save stockholders ...
2008-07-16 10:54:00