Mortgage and Financial News From 2007-10-13 Page 7
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Woolwich launches new mortgage product (Banking Business Review)
Woolwich, the UK-based mortgage lending brand of Barclays, has announced that it is launching a new product to take advantage of any future drop in interest rates, which many commentators expect during 2008.
2007-10-12 06:16:28 -
Beazer restating financial statements
Boston Globe - Beazer said it may be liable for losses suffered by the mortgage buyer, or HUD, which insured the loans, apparently based on false information. Beazer said it may be liable for fraud and civil action. The company intends to negotiate a settlement with ...
2007-10-11 04:43:00 -
Witness tells of body, grave
Milwaukee Journal Sentinel - In separate federal charges, Lock, along with nine other people, is charged with orchestrating an elaborate mortgage fraud. At Friday's preliminary hearing, several detectives, an FBI agent and others described how they identified the victims' remains ...
2007-10-11 05:58:00 -
Beazer's Confession Isn't The Last Word
Forbes - Justice Department, the Internal Revenue Service and HUD had launched a criminal investigation into the company’s business practices, including mortgage fraud. Beazer said its own inquiry had not found evidence to support any of the allegations ...
2007-10-12 02:36:00 -
10 sentenced for roles in mortgage fraud
Journal Record - OKLAHOMA CITY – Ten people were sentenced Friday to federal prison terms for the roles they played in a mortgage fraud scheme involving properties at Oak Tree in Edmond. Sentenced were: Brandon Baum, 32, Joplin, Mo.; Gayle Caldwell, 39, Edmond ...
2007-10-12 08:49:00 -
City man gets 6 years for bank fraud, ID theft (Baltimore Sun)
A 38-year-old Baltimore man was sentenced yesterday to six years in prison for bank fraud and aggravated identify theft for his role in fraudulently opening credit accounts, according to the U.S. attorney's office.
2007-10-13 06:29:49 -
Man pleads guilty in fraud case (Gazette Extra Sports)
MILWAUKEE-A Delavan man pleaded guilty to federal wire fraud Friday morning in a growing mortgage fraud investigation that struck Walworth County in 2004.
2007-10-12 11:05:35 -
DA accused of dropping ball on mortgage fraud (KGET 17 Bakersfield)
The fight over real estate fraud spilled onto the editorial pages and airwaves of local talk radio shows Friday.
2007-10-12 07:28:30 -
1 in 9 jobs tied to real estate
Daily Camera - And selling a home involves Realtors, title companies and mortgage companies, so it is easy to see how the economic impact multiplies, he added. However, rising foreclosures and the loss of jobs in the mortgage industry may already have hurt the real ...
2007-10-13 05:45:00 -
AG asks mortgage companies to stymie foreclosures (Dallas Business Journal)
With higher monthly payments in store for subprime mortgage owners, Texas Attorney General Greg Abbott has asked three mortgage companies to take steps to prevent Texans from losing their homes to foreclosure.
2007-10-12 02:42:30 -
USA Capital investor vents anger Unhappy contributor says he'd like ...
Las Vegas Review Journal - Compass originally relied on USA Capital to service the loans because USA Capital was licensed in Nevada as mortgage broker. Compass applied for its own Nevada license but withdrew the application, saying it would service the loans from New York. The ...
2007-10-13 01:56:00 -
Man pleads guilty in fraud case
Janesville Gazette - Lytle, a former mortgage broker, and Martin Valadez were the major players in the scheme, Kraft said. Jose Valadez once posed as a straw buyer in the scam, according to court documents. Lytle pleaded guilty to wire fraud for swindling nearly $4 ...
2007-10-12 10:50:00 -
Bono lures depleted broker ranks to mortgage fete
Reuters - NEW YORK, Oct 12 (Reuters) - Autumn in New England may feel more like a winter of discontent for the 4,000 home lending specialists heading to Boston next week for an industry jamboree set amid the worst housing slump in a generation. The Mortgage ...
2007-10-12 01:53:00 -
Financial Service company joins with mortgage company to complement each other's services (Granite City Press-Record)
A ribbon-cutting Thursday turned into a cake cutting, and how sweet both were for VanDyk representatives who took part in the event at Nicole Financial Services in Granite City.
2007-10-13 09:00:01 -
Many not ready for mortgage rate jump (Honolulu Star-Bulletin)
A significant portion of Hawaii homeowners who have adjustable-rate mortgages will find themselves facing higher monthly payments by the end of the year -- and many aren't prepared, state and industry experts say.
2007-10-13 05:13:46