Mortgage and Financial News From 2008-2-23 Page 5

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  • Foreclosures on the horizon

    North Adams Transcript - ... The real es-tate empire of a North Adams landlord who invested more than $1.3 million in 17 multi-family properties in this city and Adams is in the early stages of crumbling, as local officials plan to shut down her tenements and mortgage companies ...
    2008-02-19 03:56:00

  • Meet Virginia's consumer cop

    HamptonRoads.com - Amid foreclosure problems in Ohio, Attorney General Marc Dann has charged mortgage companies and appraisers with fraud. In Virginia, McDonnell has carved out his niche with little mention of consumer concerns.
    2008-02-23 05:31:00

  • Loan restrictions amount to a kind of redlining

    Baltimore Sun - David Berenbaum, executive vice president of the National Community Reinvestment Coalition, a consumer advocacy group active in litigation against subprime mortgage companies, said that "sound underwriting has nothing to do with geography.
    2008-02-23 03:37:00

  • Housing official says more subprime problems are coming (Austin American-Statesman)

    WASHINGTON — The home mortgage market is in need of stronger rules to protect homeowners, the chairman of the Federal Deposit Insurance Corp. said last week, adding that there will be "continued pain" as the market grapples with resetting subprime and non-traditional mortgages.
    2008-02-23 04:45:35

  • Milan style undimmed by recession (Guardian Unlimited)

    Life & style: Despite recession fears, Italy's top designers parade autumn collections showing decadence
    2008-02-23 04:53:58

  • Blue Chip fallout threatens third parties (Stuff)

    Cash flow difficulties have been a problem within the crumbling Blue Chip property empire for several years, and the resulting problems are now so severe they pose a risk to third parties such as banks and insurance companies.
    2008-02-23 05:26:19

  • Mortgagee auctions put valuations in spotlight (Stuff)

    Uninformed investors are finding out property isn't always worth its registered valuation, says Greg Ninness .
    2008-02-23 05:26:39

  • Is everything open source? (IT Manager's Journal)

    To see just how big a buzzword open source has become, look to the troubled bond insurers MBIA and AMBAC. These two companies started off insuring municipal bonds against default, then got in trouble with the complex mortgage instruments known as the Big Shitpile.
    2008-02-23 07:11:45

  • A lot to be thankful for (Morris Daily Herald)

    When Craig and Deanna Cook received the keys to their Habitat for Humanity home just before Christmas four years ago. Deanna said it felt like a dream come true.
    2008-02-23 07:19:55

  • Foreclosures rip neighborhoods (The Shelby Star)

    Robert McCluney stands in his driveway on Brett Court near Boiling Springs. Many homes around him have been foreclosed on in the Beaver Dam Church Heights neighborhood.
    2008-02-23 07:31:12

  • Where ‘Mortgage’ Isn’t a Scary Word (NYTimes.com via Yahoo! Finance)

    A confluence of economic circumstances is blamed for the dismal performance of mortgage REITs, but a handful of them is thriving as the economy falters.
    2008-02-23 07:40:45

  • Repossessions rise more than 20 per cent to eight-year high

    Edinburgh News - We have been endorsing fraud though - mainly from people lying about their incomes on mortgage forms. It's time to check those forms against tax statements and start jailing those who've been fraudulent.
    2008-02-23 05:57:00

  • Mortgage disclosure bill passes next hurdle

    Columbian - The measure prohibits brokers and consumer loan companies from steering customers to mortgage loans that they obviously cannot afford, and it makes it a crime for a mortgage broker or borrower to knowingly use fraud or deceptive practices to obtain a ...
    2008-02-21 08:04:00

  • Bank-owned properties top 1,000

    Bakersfield Californian - Master of Mortgage Fraud” song that made the internet rounds this summer.) The MLS showed 1,017 bank-owned properties out of a total of 5,023 as of Wednesday, Vaughn said.
    2008-02-20 03:54:00

  • Foreclosures on the horizon

    North Adams Transcript - While the mayor declined to say if he thought the Borers and Burrenstone were involved in any type of mortgage fraud, he said multiple real estate transactions have aroused his interest over the past year.
    2008-02-19 03:56:00

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