Mortgage and Financial News From 2007-9-4

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  • Congress returns; mortgage crisis and Iraq war on tap (Detroit Free Press)

    Like many schoolchildren, members of Congress were due back at their desks Tuesday after a summer break. Unlike the students, lawmakers will immediately face major tests: on Iraq, children's health care, a home mortgage crisis and the budget.
    2007-09-04 07:05:07

  • Fed asks mortgage-servicers to help borrowers (Market Watch)

    WASHINGTON (MarketWatch) -- Regulators including the Federal Reserve asked banks and other institutions Tuesday to pursue "loss mitigation" strategies for borrowers at risk of losing their homes, the latest move from Washington aimed at defusing the crisis in the subprime mortgage market.
    2007-09-04 09:15:22

  • Mortgage servicers urged to head off foreclosures (Reuters via Yahoo! News)

    Banking regulators on Tuesday urged mortgage servicers to be proactive and contact borrowers at risk of default to help them avoid foreclosure and keep their homes.
    2007-09-04 09:59:08

  • Mortgage lender says he foresaw collapse (Honolulu Advertiser)

    A year ago, Countrywide Financial Corp. Chairman and Chief Executive Angelo R. Mozilo was boasting that the looming shakeout in home prices and hike in mortgage interest rates would usher in a period of remarkable prosperity for his company.
    2007-09-04 04:50:34

  • FHA Plan Could Help Hoosiers Behind on Mortgage Payments (22 WSBT South Bend)

    INDIANAPOLIS (AP) — A new Federal Housing Administration program intended to reduce the nationwide rash of home-loan defaults has excited some mortgage lenders in Indiana, which has one of the nation's highest foreclosure rates.
    2007-09-04 06:08:20

  • Hot real estate market looks ripe for rip-offs

    Portland Tribune - ... County Justice Center — are a local reflection of how police agencies are ratcheting up their focus on real estate fraud. ... Hagar’s talk will cover many of these problems and also help consumers watch out for various mortgage elimination schemes ...
    2007-09-03 11:58:00

  • The Big Fish Online

    Free Internet Press - Can The Mortgage Crisis Swallow A Town? Felix Strengthens To Category 2 Hurricane Civilian Death Toll Falls In Baghdad But Rises ... Social Security Administration has found that up to 10 percent of workers have suspect numbers, whether because of fraud ...
    2007-09-03 11:48:00

  • WORLD at 1400GMT

    PR Inside - BRUSSELS, Belgium _ A prosecutor recommends that the U.S.-based Church of Scientology stand trial for fraud and extortion ... U.S. lawmakers return to face Iraq, home mortgage and children's health issues WASHINGTON _ Members of Congress are due back ...
    2007-09-04 07:29:00

  • Benefits fraudster bought flats

    IC Newcastle - Ronald Graham lied to mortgage advisers to buy plush city-centre apartments despite telling council bosses he lived on ... Coun Anita Lower, of Newcastle City Council, said Graham’s actions were one of the most serious cases of benefit fraud ...
    2007-09-04 01:17:00

  • Monday, September 3

    News.com.au - NOT only have the Chinese been avidly buying our minerals, they may also have been lapping up our mortgage-backed securities ... they entered into through Swiss-based firm Strachans, the company at the heart of the $300 million Wickenby tax fraud ...
    2007-09-04 07:36:00

  • News Minute: Felix Category-5 again...Congress returns...Killer heat ...

    WDAM-TV - ... rule out return to politics 10 new West Nile cases reported in Mississippi Documents taken in Jones County for Katrina fraud ... Tomorrow, the House Financial Services Committee is to hold a hearing on the subprime mortgage crisis. Lawmakers plan to ...
    2007-09-04 04:01:00

  • Advocate: N.C. foreclosure picture to worsen

    Charlotte.com - ... whether an attorney, broker or lender to guide them through the mortgage process. ...They trusted the wrong person and got a loan unsuitable for any human being that breathes. I'm in no way defending borrowers who lie or cheat or engage in fraud ...
    2007-09-04 08:33:00

  • Credit Notebook: Novastar Cuts

    Wall Street Journal - Trouble for NovaStar: Struggling mortgage lender NovaStar Financial Inc. announced further job cuts and tighter lending ... SEC Charges Sentinel: The SEC filed civil fraud charges against Sentinel Management Group, an investment adviser whose ...
    2007-09-04 08:48:00

  • Homeownership Reached Apotheosis in 21st Century: Caroline Baum

    Bloomberg - Mortgage interest and real estate taxes are deductible. The first $250,000 of profit ($500,000 for a married couple) from the ... Now they face accusations of fraud because they did. To contact the writer of this column: Caroline Baum in New ...
    2007-09-04 07:29:00

  • State agencies band together to head off mortgage scammers

    Alaska Journal of Commerce - He was convicted for wire fraud arising from a scheme to falsify information on mortgage loans he originated while acting as a branch manager in the Anchorage office of Countrywide Home Loans and American Home Mortgage. Partow was also ordered to pay ...
    2007-09-02 09:40:00

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