Mortgage and Financial News From 2007-12-19 Page 18

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  • 3 charged in another mortgage fraud ring

    Rockford Register-Star - A Rockford loan officer and two others were charged today with generating thousands of dollars in commissions by creating fake documents to get unqualified families loans backed by the Federal Housing Authority. Mitchel A. Fuchs, 40, also known as ...
    2007-12-19 08:41:00

  • Feds bust mortgage swindlers (KTUU Anchorage)

    Prosecutors say they've uncovered the largest case of mortgage fraud in state history.
    2007-12-18 08:41:28

  • Fed proposes new ules to clean up mortgage lending (Gulf Times)

    WASHINGTON: Federal Reserve chairman Ben Bernanke yesterday said that the central bank was proposing new rules to clean up mortgage lending which are also aimed at protecting home buyers from potential fraud.
    2007-12-19 02:20:06

  • It's a wonderful mess

    Seattle Times - Mortgage companies often ship the loans to Wall Street, which repackages them into securities sold around the globe. So if you're a borrower in trouble, and your loan is diced up into some mortgage-backed security, you'd be hard-pressed to find a ...
    2007-12-19 12:13:00

  • S&P: Bond Insurers Under Stress

    BusinessWeek - ... Ratings Services on Dec. 19 announced various ratings actions (see list below) on six financial guaranty insurance companies. The rating actions were prompted by worsening expectations for the performance of insured nonprime residential mortgage ...
    2007-12-19 10:28:00

  • S&P Cuts Alt-A Mortgage Bonds; Analysts Warn on Prime (Update2)

    Bloomberg - Sales of U.S. mortgage securities without guarantees from government-linked entities such as Fannie Mae fell to a six-year low last month, according to newsletter Inside MBS & ABS. Companies such as Calabasas, California-based Countrywide, the ...
    2007-12-19 10:07:00

  • After first loss, Morgan Stanley takes $5B from China

    USA Today - Calendar: What companies are reporting today? Can't find your company?: Put the name or ticker symbol of any company in any ... under the current leadership will likely be scrutinized by investors considering the poorly timed push into the mortgage ...
    2007-12-19 08:41:00

  • Stocks lose gains on credit concerns

    MSNBC - But the stock, along with the rest of the market, later reversed course after ratings agencies downgraded some bond insurers, suggesting that the ratings on the bonds the companies insure may be headed lower. Standard & Poor's slashed the credit ...
    2007-12-19 09:31:00

  • Sallie shares dive on talk of dividend cut

    CNN Money - feed://rss.cnn.com/rss/money_news_companies.rss ... And defaults are mounting on student loans, while credit-market tremors similar to those linked to the mortgage crisis have ...
    2007-12-19 09:38:00

  • Fed moves on home-loan crisis

    Philadelphia Daily News - By a 5-0 vote, the Fed approved a plan that would tighten provisions meant to protect borrowers and apply them to a far larger share of home loans - whether from banks, mortgage companies or other lenders - than under current regulations. The proposed ...
    2007-12-19 04:59:00

  • US financial services industry body 'disappointed' by EU's mastercard ...

    CNBC - AFSA is an industry body which represents 350 companies in the sector including consumer and commercial finance companies, auto finance/leasing companies, mortgage lenders, credit card issuers, industrial banks and industry suppliers. Earlier today ...
    2007-12-19 09:53:00

  • Morgan Stanley Meltdown

    Forbes - Both also bought up mortgage companies near the peak of the housing boom. Both actions have led to losses. Goldman bet against the mortgage markets earlier this year while people were still piling into it, and profited big because of it. Morgan ...
    2007-12-19 10:28:00

  • Ameriquest Mortgage lawsuit payout to benefit 18,000 Michigan ...

    Detroit News - LANSING -- More than $14.5 million in restitution checks are being mailed to thousands of mortgage loan borrowers in Michigan as part of a multistate settlement with Ameriquest Mortgage Co. and its related companies. About 300,000 borrowers around ...
    2007-12-19 10:21:00

  • In Reversal, Fed Acts to Tighten Mortgage Rules (New York Times)

    The new rules would force companies to show that customers can realistically afford their mortgages.
    2007-12-18 07:18:28

  • 100% FDI likely for mortgage guarantee firms (Indian Express Finance via Yahoo! India News)

    The government may treat mortgage guarantee companies as non-banking finance companies (NBFCs). This would enable foreign firms to set up wholly owned subsidiaries in India as there is no foreign direct investment (FDI) cap for NBFCs. The rules governing this are expected to be unveiled soon, according to sources. The finance ministry favoured the inclusion of mortgage guarantee companies in the ...
    2007-12-18 11:02:26

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