Mortgage and Financial News From 2007-9-8 Page 6
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Study finds minorities often get riskier mortgage loans (WOOD TV 8 Grand Rapids)
LANSING, Mich. -- African-Americans and Latinos in the Lansing area are more likely than white borrowers to end up with high-cost, subprime loans when the buy or refinance homes,...
2007-09-08 12:35:35 -
US loan woe 'to hit UK mortgages'
BBC News - The US sub-prime loan crisis may push up mortgage rates in the UK, a former Bank of England adviser has warned. Professor Willem Buiter, an ex-member of the Monetary Policy Committee, said UK banks were in crisis over their exposure to bad loans in ...
2007-09-07 12:05:00 -
Study finds minorities often get riskier mortgage loans
Chicago Tribune - However, the study did not look at applicants' credit scores, which lenders use to set interest rates. The Michigan Mortgage Brokers Association in Lansing recommends its members take classes on housing and lending discrimination laws, said President ...
2007-09-08 12:25:00 -
Mortgage rates edge up after 3-month low
MSNBC - Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.46 percent this week, compared with 6.45 percent last week. The rate last week was the lowest since 30-year mortgages averaged 6.42 percent the week of ...
2007-09-07 12:05:00 -
Weak Jobs Data Boost Likelihood of a Rate Cut
Wall Street Journal - Moreover, the housing sector's troubles are far from over: Home sales were already tumbling even before last month's credit crunch froze some buyers out of the market and raised mortgage rates. Falling home prices will add to the risk of lower ...
2007-09-08 11:49:00 -
WEALTH HEALTH: Savers, borrowers, get ready for a Fed rate cut - just ...
Patriot Ledger - Fixed mortgage rates are much more closely tied to 10-year Treasury yields, so there is no automatic connection, and no guarantee that homeowners will be able to get a better mortgage deal. That said, Treasury rates have been coming down and there is ...
2007-09-08 12:25:00 -
Utah foreclosure rates among lowest in U.S. (Deseret Morning News)
Utah had one of the lowest mortgage foreclosure rates in the nation last year, at 0.74 percent of all outstanding loans.
2007-09-07 11:25:16 -
On Sub-Prime Behavior
OpEdNews.com - T he way I see it, it was trickle down economics, a penchant for war, along with outright corruption and fraud that will ... the lenders were cheats, as were many of the home buyers themselves who were willing to lie about their incomes on mortgage ...
2007-09-08 08:43:00 -
Top lender to turn away 12,000 workers
Olympian - The company said the cuts, amounting to as much as 20 percent of its workforce, are needed because it expects mortgage ... He was convicted along with company founder Kenneth Lay on May 25, 2006, on 19 counts of fraud, conspiracy, insider trading ...
2007-09-08 10:16:00 -
On Covering The Kids' Health
CBS News - I know that health insurance is not cheap, but neither are your mortgage and car insurance. You're not going to ask the ... market is notoriously unstable, with small-time carriers constantly jumping in and out, plus it's famously prone to fraud ...
2007-09-08 01:08:00 -
Sterling fights indictment
The State - STERLING TRIAL Sterling, 69, is the former board chairman and one-time chief executive of HomeGold Financial, the Lexington subprime mortgage lender that failed in 2003. Sterling is charged with three counts of securities fraud. He has been free on ...
2007-09-08 05:37:00 -
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. But the loan officer, Kourosh Partow -- a local dog musher who temporarily fled to his ...
2007-09-04 05:59:00 -
Jennifer Rich
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. Jennifer Rich x jrich ...
2007-09-07 11:29:00 -
Correction: Mortgage fraud story
Biloxi Sun Herald - In a Sept. 7 story about a mortgage fraud case, The Associated Press, relying on information from the Mississippi attorney general's office, erroneously reported that Rhonda Hare of Meridian and Linda Stephens of Collinsville were arrested and ...
2007-09-08 11:49:00 -
2nd Man Pleads Guilty In Mortgage Fraud Scheme
WCCO - (AP) Minneapolis A 27-year-old man has pleaded guilty in an alleged mortgage fraud conspiracy that may involve as many as 200 homes and $50 million in losses. Kristopher Robbins, of New Market, admitted Friday that he participated in dozens of ...
2007-09-08 12:25:00