Mortgage and Financial News From 2007-10-26 Page 4

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  • Valley Foreclosures Up 311 Percent (CBS 5 Phoenix)

    Foreclosures in Maricopa County are up 311 percent from last year, and mortgage experts still predict the worst is yet to come.
    2007-10-26 08:40:53

  • Countrywide projects return to profit (Reuters via Yahoo! News)

    Countrywide Financial Corp posted a $1.2 billion third-quarter loss on Friday, but its shares soared after the largest U.S. mortgage lender said it expected to be profitable this quarter and in 2008, and had weathered the worst of the nationwide housing downturn.
    2007-10-26 10:47:52

  • Countrywide posts loss, stock up after outlook (Reuters via Yahoo! News)

    Countrywide Financial Corp posted a $1.2 billion third-quarter loss on Friday, but its shares climbed after the largest U.S. mortgage lender said it expected to be profitable in the fourth quarter and in 2008, and has weathered the worst of the nationwide housing downturn.
    2007-10-26 01:11:20

  • Countrywide posts loss, stock soars on outlook (Reuters via Yahoo! News)

    Countrywide Financial Corp posted a $1.2 billion third-quarter loss on Friday, but its shares soared after the largest U.S. mortgage lender said it expects to be profitable in the fourth quarter and in 2008, and has weathered the worst of the housing downturn.
    2007-10-26 01:51:17

  • Mortgage rates fall to lowest level in six weeks (KARE 11 Minneapolis-St. Paul)

    Rates on 30-year mortgages fell to the lowest level in six weeks as financial markets grew more hopeful that the Federal Reserve will
    2007-10-26 12:19:46

  • Economy worries hold down mortgage rates (Moldova.org)

    Mortgage rates were held lower by worries over a slowing economy and a continuing housing slump, the Freddie Mac Primary Mortgage Survey said Thursday. The 30-year fixed-rate mortgage averaged 6.33 percent with an average 0.5 points this week, down from last week’s 6.40 percent. The 15-year FRM this week averaged 5.99 percent with an average 0.6 points, down from last week’s 6.08 percent. ...
    2007-10-26 09:59:03

  • Defense Contractor Denies Bribery

    Guardian Unlimited - ... after pleading guilty in 2005 to accepting $2.4 million in cash, mortgage payments and other perks from defense contractors. He has not been called to testify. In February, Wilkes, 53, pleaded not guilty to 14 counts of conspiracy, bribery, fraud and ...
    2007-10-26 06:59:00

  • Audio: Americans for Prosperity Leads Coalition Effort Against ...

    Forbes - WASHINGTON, Oct. 26 /PRNewswire/ -- As Congress continues to debate the sub-prime mortgage issue, the free-market grassroots ... Instead, the government can help those suffering by prosecuting fraud and clearing the way for lenders and borrowers to ...
    2007-10-26 10:31:00

  • Fraudulent applications for credit rise by nearly a quarter

    Times Online - Rachel Le Brocq, of the Building Societies’ Association, said: “The mortgage industry as a whole has seen an increase in attempted application fraud, but lenders have robust procedures in place to counter this.” Law enforcement agencies say that ...
    2007-10-26 01:15:00

  • Hedge fund calls for Erinaceous scalps

    Times Online - Last year Erinaceous hit the headlines over a police investigation involving Ian “Flash” McGarry, a surveyor at its Dunlop Haywards subsidiary, for his role in an alleged mortgage fraud ring. Erinaceous settled out of court on a claim brought by ...
    2007-10-26 07:03:00

  • Fraud ban for star salesman

    New Zealand Herald - One of real estate firm Barfoot & Thompson's top agents has been banned from the business for two years and fined $750 for forgery and mortgage fraud. The penalty is the maximum the Real Estate Agents Licensing Board can impose under the Real Estate ...
    2007-10-26 12:40:00

  • Shields’ trial focuses on another defendant

    Kansas City Star - Testimony in the Katheryn Shields mortgage fraud trial today has focused on co-defendant Monty Kinman. Kinman brokered the proposed $1.2 million loan for the sale of the Kansas City home owned by Shields and her husband Philip Cardarella that federal ...
    2007-10-26 05:01:00

  • Utah announces mortgage fraud task force

    Daily Herald - Utah ranks as one of the biggest hot spots in the country for mortgage fraud and several high-profile cases have brought recent attention to the issues. To help combat the problem, state and federal officials announced a new task force that will ...
    2007-10-26 10:16:00

  • Fraud ban for star salesman (The New Zealand Herald)

    One of real estate firm Barfoot & Thompson's top agents has been banned from the business for two years and fined $750 for forgery and mortgage fraud.
    2007-10-26 12:52:58

  • Rumors have Merrill CEO being ousted

    Los Angeles Times - None of the CEOs of the major investment banks have lost their jobs in the yearlong sub-prime meltdown despite mortgage-related write-downs at their companies totaling more than $25 billion. Several firms have pushed out the heads of divisions that ...
    2007-10-26 02:41:00

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