Mortgage and Financial News From 2007-12-13 Page 25
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Five charged in alleged mortgage fraud case
KARE - The owner of a mortgage brokerage and several employees have been charged with racketeering and theft by swindle in an alleged mortgage fraud scheme. The Hennepin County Attorney's Office says several employees at Universal Mortgage Inc. based in ...
2007-12-11 02:24:00 -
Six Utahns indicted for mortgage fraud
Daily Herald - One of the alleged criminals, Ron Clarke, claims to be in the top 1% of all real estate agents in the US, having sold more than $500,000,000. His 3% take on that is $15 million. Going well beyond these earnings are his own development projects ...
2007-12-12 05:10:00 -
Senator Dodd offers mortgage reform
Reuters - The legislation sponsored by Christopher Dodd, a Connecticut Democrat, will give victims of mortgage fraud the right to sue lenders, brokers and investors for losses they incur for failed loans, Dodd's office said in a statement. "Foreclosures are ...
2007-12-12 01:21:00 -
McFadden-Weaver will learn mortgage fraud sentence after Christmas
Kansas City Star - After hearing legal arguments and a statement from former Kansas City Councilwoman Saundra McFadden-Weaver, a federal judge said today he would announce her mortgage fraud sentence Dec. 28. Chief U.S. District Judge Fernando Gaitan said he needed ...
2007-12-12 09:11:00 -
Appeals court vacates mortgage-fraud sentence
Journal Record - OKLAHOMA CITY – The 10th U.S. Circuit Court of Appeals has vacated a Colorado man’s sentence for mail fraud and other offenses in a mortgage-fraud case, ruling that the federal district court did not resolve factual disputes as to whether James ...
2007-12-12 08:38:00 -
McFadden-Weaver sentencing for mortgage fraud set for Dec. 28
Kansas City Star - After her court appearance Wednesday for sentencing on federal mortgage fraud charges, former Kansas City Councilwoman Saundra McFadden-Weaver (center) exited the federal courthouse. Saundra McFadden-Weaver's statement outside court Former Kansas ...
2007-12-12 03:44:00 -
Chief Deputy U. S. Marshal (INA) Claims That Sub-Prime Mortgage Collapse Is A Law Enforcement Problem And Announces ... (PRWeb)
Once considered a tolerable pastime of industry insiders and a relatively few unscrupulous borrowers; Predatory Lending and Mortgage Fraud including Fraudulent Foreclosures have spun America's $3 trillion mortgage market into a national crisis. Congress Against Racism and Corruption in Law Enforcement (CARCLE) and National Judicial Conduct and Disability Law Project, Inc. (NJCDLP) are ...
2007-12-13 12:25:40 -
McFadden-Weaver will learn mortgage fraud sentence after Christmas (The Kansas City Star)
After hearing legal arguments and a statement from former Kansas City Councilwoman Saundra McFadden-Weaver, a federal judge said today he would announce her mortgage fraud sentence Dec. 28.
2007-12-12 09:17:17 -
Central bank cooperation spurs Wall Street rebound
Boston Globe - Home builders, mortgage companies and other companies dependent on the credit market rebounded after Tuesday's bludgeoning. Centex Corp , the No. 4 U.S. home builder, was up 4.3 percent at $23.98. Investment bank Morgan Stanley rose 1 ...
2007-12-12 10:22:00 -
Mortgage bankers' group loses top lobbyist
Reuters - But we know how to write good loans and the companies that went too far have been punished by the market." Traditionally, the mortgage industry has fought its policy battles with lawmakers on banking and finance committees but that landscape has ...
2007-12-12 02:54:00 -
US STOCKS-Market rallies as central banks join forces
Reuters - The Nasdaq Composite Index was up 53.56 points, or 2.02 percent, at 2,705.91. Banks, home builders, mortgage companies and other companies dependent on the credit market rebounded after Tuesday's bludgeoning. Continued... © Reuters 2007 ...
2007-12-12 01:43:00 -
Investments cost ADC $29 million
Minneapolis Star Tribune - While part of the portfolio's decline was directly tied to mortgage companies, those troubles also had spilled over into the credit markets and thus affected nonmortgage companies also in the portfolio, said Jim Mathews, ADC's chief financial officer ...
2007-12-11 03:53:00 -
LBOs Find New Cash Source as Goldman, TCW Raise Mezzanine Funds
Bloomberg - At least 32 firms are starting mezzanine debt funds as investors shun bonds and loans used to finance LBOs out of concern that the collapse of prices for subprime-mortgage securities will spread. Mezzanine funds make loans to companies at higher ...
2007-12-12 10:32:00 -
John David
Charleston Gazette - For example, Freddie Mac, one of the government-sponsored mortgage companies and a favorite place for foreign investments, recently reported a $2 billion loss for the third quarter with more losses on the horizon. Venezuelan President Hugo Chavez has ...
2007-12-12 09:50:00 -
Global buyers sought for US houses
News.com.au - Are mortgage companies and real estate companies having some problems? Yes. And it's based on decisions they made two or three years ago," he said. "But from the consumers' standpoint, it's the old adage: whatever you are buying, buy low and sell high
2007-12-12 06:51:00