Mortgage and Financial News From 2007-9-21 Page 8

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• Attend a trade show! Win a house!

  BusinessWeek - In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, “option ARM” mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. Hot Property was a ...
  2007-09-21 01:00:00

• Archives: June 2005

  BusinessWeek - In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, “option ARM” mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. Hot Property was a ...
  2007-09-21 01:00:00

• One sentenced, one pleads guilty in mortgage fraud cases

  Macon Telegraph - A Florida man found guilty earlier this year in a scheme that authorities said involved more than $112 million in fraudulent mortgage loans was sentenced on Friday to serve 28 years in federal prison. Phillip E. Hill, 51, of Sumatra, Fla., was also ...
  2007-09-21 01:21:00

• Believe it or not, the 'optimal' mortgage is an option ARM

  BusinessWeek - In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, “option ARM” mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. Hot Property was a ...
  2007-09-21 01:21:00

• 2 convicted in mortgage loan fraud (The Star-Ledger)

  Two women charged in a massive mortgage scam involving multimillion-dollar homes in several wealthy Bergen County towns were found guilty in federal court yesterday of bank fraud and conspiracy.
  2007-09-20 10:24:11

• Hill heads to federal prison in Atl.'s big mortgage fraud case (Atlanta Business Chronicle)

  In the largest single mortgage fraud case in metro Atlanta history, U.S. District Judge Thomas W. Thrash Jr. has sent Phillip E. Hill to prison for 28 years.
  2007-09-21 10:20:27

• Metro attorney admits to role in $20M mortgage fraud ring (BizJournals)

  A Roswell, Ga., real estate attorney on Thursday pleaded guilty to conspiracy to commit bank, mail and wire fraud, bank loan application fraud, money laundering and wire fraud in a $20 million mortgage fraud scheme.
  2007-09-21 10:35:18

• £1m mortgage fraud doctor jailed (BBC News)

  A newly-qualified doctor is jailed for trying to carry out a £1m mortgage fraud to help solve his financial problems.
  2007-09-21 10:58:57

• Eurozone suffers ‘worst’ jolt since 9/11

  Financial Times - ... previous confidence that the 13-country eurozone economy would escape largely unscathed from the US subprime mortgage crisis Although the slowdown may prove temporary – and the survey showed companies continuing to take on staff at a rapid rate ...
  2007-09-21 01:35:00

• August jobless numbers are flat in Lower Hudson Valley

  White Plains Journal News - There was a drop of 1,200 jobs, or 12.1 percent in the mortgage and credit markets as a number of local mortgage companies closed in the wake of nationwide problems in the subprime mortgage industry. The loss was offset to some degree by the creation ...
  2007-09-21 01:00:00

• Wilbur Ross offers $435M for mortgage unit

  Crain's New York Business - Billionaire investor Wilbur Ross Jr. said Friday that he has offered to pay at least $435 million for the servicing unit of now-defunct American Home Mortgage Investment Corp. Mr. Ross, who made his fortune by turning around distressed companies, is ...
  2007-09-21 11:12:00

• A Tug-of-War at Habitat for Humanity

  BusinessWeek - ... mails and other documents of affiliates on probation, details new record-retention policies and safekeeping of mortgage ... Introducing Intel(r) vPro(TM) Technology Manage and protect your PC fleet with Intel(r) vPro(TM) technology. Research companies ...
  2007-09-21 09:11:00

• HSBC closes subprime division

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... HEIGHTS, Ill. (AP) -- HSBC Finance Corp., a unit of HSBC Holdings PLC., said Friday it will close its wholesale mortgage ...
  2007-09-21 10:01:00

• Regulators ease limits on Fannie Mae's mortgage debt

  MSNBC - WASHINGTON - The government on Wednesday nudged higher the investment caps for home-loan finance companies Fannie Mae and Freddie Mac in an effort to alleviate strain in the mortgage market. Democratic lawmakers have been clamoring for such a change ...
  2007-09-18 05:57:00

• Industry dive opens prime office

  Phoenix Business Journal - The collapse of mortgage companies and related businesses is having an effect on the commercial real estate market, but it's not all bad. Those companies that closed practically overnight walked away from prime office space, creating higher vacancies ...
  2007-09-21 10:51:00

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