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

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  • Ameriquest Mortgage lawsuit payout to benefit 18,000 Michigan borrowers (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.
    2007-12-19 09:06:14
  • Letters: Great days straight ahead

    Monterey County Herald - They come from all walks of life; your child's favorite teacher, your mortgage broker, the PG&E meter reader! The harried father with the screaming 2-year-old in the grocery store, your favorite mechanic or locksmith, even the nice lady who does your ...
    2007-12-19 06:03:00
  • ANALYSIS-Californians say mortgage freeze plan little help

    Forbes - ANALYSIS-Californians say mortgage freeze plan little help 12.19.07, 11:44 AM ET By David Lawder STOCKTON, Calif., (Reuters ... will still lose their homes, but there are buyers waiting to jump in at lower prices, Stockton real estate broker Ben ...
    2007-12-19 08:55:00
  • First-time buyers getting set for a happy new year

    MyFinances.co.uk - Gross mortgage lending is to take a tumble in 2008, falling from £360 billion to £320 billion according to mortgage broker John Charcol. It has predicted a drop of 15 per cent in property transactions, a fall of two per cent in house prices but has ...
    2007-12-19 04:59:00
  • Buyers beware

    Baton Rouge Business Report - In several instances, the settlement statement reveals these entities and individuals [who were associated with the mortgage broker and title company] actually received significant amounts of money from proceeds of the loan with the lender under the ...
    2007-12-19 08:12:00
  • Mexican peso and stocks gain in early trade

    Reuters - Mexican markets have been volatile for weeks as investors worry that a crunch in the U.S. mortgage industry, combined with a battered U.S. housing sector, could cause a recession in the United States, Mexico's top trading partner. Miner Grupo ...
    2007-12-19 08:05:00
  • Fed votes to curb the mortgage mayhem

    The Australian - The proposal would also "generally" ban lenders from "directly or indirectly paying mortgage brokers in connection with consumer credit transactions secured by a consumer's principal dwelling, unless the mortgage broker enters into a written ...
    2007-12-19 08:12:00
  • The Conservative Origins of the Sub-Prime Mortgage Crisis

    Common Dreams - They often just accept the borrower’s word about his income and expenses. “You could be dead and get a loan,” a mortgage broker told Holden Lewis of Bankrate.com, a leading Web source for financial rate information. Predatory lenders turn ...
    2007-12-19 07:51:00
  • Mortgage broker fined $50,000 due to improper disposal of consumer ...

    CNBC - WASHINGTON - An Illinois mortgage broker has agreed to pay a $50,000 fine to settle charges that it left loan documents, with personal information such as Social Security numbers, in and around an unsecured dumpster, a government agency said. In ...
    2007-12-19 06:11:00
  • FTC Fines Company Over Document Disposal (AP via Yahoo! Finance)

    An Illinois mortgage broker has agreed to pay a $50,000 fine to settle charges that it left loan documents, with personal information such as Social Security numbers, in and around an unsecured dumpster, a government agency said.
    2007-12-19 06:09:22
  • Highlights of Proposed Mortgage Reform (BusinessWeek Online via Yahoo! UK & Ireland Finance)

    Highlights of proposed rule to amend home mortgage provisions of Regulation Z
    2007-12-19 05:31:33
  • Paulson says mortgage relief plan not a bailout (Washington Post)

    KANSAS CITY, Missouri (Reuters) - Treasury Secretary Henry Paulson, on the second day of a tour seeking to build support for a government-sponsored mortgage relief plan, on Tuesday said it was not a bailout for people who made bad financial decisions.
    2007-12-19 02:07:01
  • Lawmakers in Snyder case seek updates from mortgage execs (Lancaster Online)

    Three high-ranking lawmakers have followed up on a hearing they conducted last week that examined how 811 victims were defrauded by a local mortgage broker.U.S. Senators Arlen Specter and Bob Casey, along with Rep. Tim Holden, wrote to the chief executives of six banks, Fannie Mae and Fred...
    2007-12-18 09:04:36
  • Merrill Hires Kronthal as Consultant on Mortgages (Update3)

    Bloomberg - ... onetime bond-trading executive fired last year by former CEO Stan O'Neal, to advise on stanching the firm's mortgage-related ... Merrill, the third-biggest U.S. securities firm, will seek Kronthal's advice on its $21 billion inventory of subprime ...
    2007-12-17 01:44:00
  • How to avoid the overspend

    Stratford-upon-Avon Observer - BOSSES at Stratford’s Citizens Advice Bureau are warning townsfolk to avoid getting carried away over the festive season. ... Remember rent, the mortgage, bills, council tax and existing debts have to be paid. "Try to find the best price and be wary of ...
    2007-12-19 06:39:00