Mortgage and Financial News From 2007-10-28 Page 7
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Letters - Sunday
Colorado Springs Gazette - And we’re working closely with leading mortgage companies and trade organizations to improve consumer education and outreach. Recently we held a community summit in Denver in which we shared concerns and heard solutions to the foreclosure problem ...
2007-10-28 12:13:00 -
Lawmakers, regulators confront limited ability to help homeowners ...
San Diego Union-Tribune - Sheila Bair, chair of the Federal Deposit Insurance Corp., argues that mortgage servicing companies should agree to widespread conversions of adjustable-rate loans to fixed-rate loans for borrowers who are current on payments but confront rate resets ...
2007-10-26 09:26:00 -
Genworth, Radian Rise as Countrywide Boosts Hopes (Update2)
Bloomberg - The insurers, which bail out lenders from bad loans, have had to pay more claims as borrower defaults increased, forcing at least 100 mortgage companies to halt loans, close or sell themselves this year. ``Countrywide is a bellwether for ...
2007-10-26 01:22:00 -
Slow housing market speeds up scam
Palm Beach Interactive - Although nothing is illegal about cash-back-at-closing deals in which all the details are disclosed to lenders, the arrangement veers into fraud when the sale is arranged to trick mortgage companies into lending far more than the house is worth. The ...
2007-10-28 12:01:00 -
Embarrassment of riches in unsold TV pilot
Chicago Tribune - The headlines this summer were full of reports of mortgage companies going bust. The biggest reason was that they backed a lot of loser loans. But here's another: The average mortgage-banking firm lost $50 for each loan it originated last year ...
2007-10-28 06:39:00 -
Profile | Wilbur Ross, buyer of failed companies (Seattle Times)
Wilbur Ross, the billionaire who specializes in resurrecting failed companies, is betting the U.S. mortgage market will rise from the dead...
2007-10-28 12:21:18 -
Lenders raise bar for some borrowers
Raleigh News & Observer - Even though her credit history suffered from large medical bills and a recent bankruptcy, she was able to get a contract on the home. Then Green got a call from her mortgage broker telling her things had changed. She would need to increase her credit ...
2007-10-27 03:06:00 -
755 Percent Increase In Bay Area Foreclosures
NBC 11 - One mortgage broker told Nguyen off camera the FBI has raided offices of at least a dozen brokers he knows. The unidentified mortgage broker also told Nguyen he has faced three lawsuits from banks after borrowers defaulted on their loans. Faravelli ...
2007-10-27 02:54:00 -
Golden for City Council
Herald Tribune - Byrd, a real estate agent and mortgage broker who recently finished law school at Florida A&M, served on the council from 1990 to 1996. He says his goals include reducing taxes, focusing more attention on crime and building support for a switch to a ...
2007-10-28 07:08:00 -
Mortgages turn elusive
Baltimore Sun - Early this year, "it was pretty easy to get almost anyone a mortgage," said Bethany Marten, a mortgage broker in Baldwin, N.Y. "In the past, really marginal buyers could get mortgages. But we have a lot of people we can't do loans for right now." Now ...
2007-10-28 12:20:00 -
Firefighters continue making gains fighting Southern California ...
Detroit News - In the Rancho Bernardo section of San Diego, mortgage broker Mike Bartholemew, 37, removed rotten food from his refrigerator Saturday as he waited for cleaners to vacuum soot from inside his home, which survived the flames. Bartholemew said it was ...
2007-10-28 12:37:00 -
Banks rethink relationships with mortgage brokers (Orange County Register)
Industry that flourished after the S&Ls collapsed could find its role reduced after lending correction.
2007-10-28 03:11:15 -
A good IRA? Buy American
Seattle Times - I think the American Funds are the best deal going for people who need advice about where to invest. You pay a commission for ... Our house is paid off, so there's no mortgage, and both cars are paid for. In addition, thanks to my military retirement ...
2007-10-28 01:03:00 -
Page turning for profit
Detroit Free Press - Tired of relying on a mortgage banker or broker to do real estate deals? Perotti offers a comprehensive approach to becoming ... That is good advice for people considering jumping into the troubled waters of real estate today. "The real estate market is ...
2007-10-28 05:56:00 -
Everybody's Business: Ten Tips for Sound Investing and Peaceful Sleep
The Ledger - They use derivatives and complex arbitrage and exotic instruments like subprime mortgage pools. (Hey, did I just say that ... Now you have my best advice. And I can go back to swimming alone with a clear conscience. [ Ben Stein is a lawyer, writer ...
2007-10-28 06:11:00