Mortgage and Financial News From 2007-9-6 Page 24
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Task force looks to crack down on residential mortgage fraud (The Daily Texan)
During its inaugural meeting Wednesday morning, the newly commissioned Texas Residential Mortgage Fraud Task Force began its mission to reduce the number of Texas mortgage fraud cases.
2007-09-05 11:30:27 -
Saint Anselm rebuts US report on student lending
Boston Globe - Connecticut Attorney General Richard Blumenthal sued mortgage brokerage companies and individual brokers and contractors for misleading investors and allegedly operating a predatory lending scheme. Blumenthal claims seven companies and individuals ...
2007-09-06 02:33:00 -
German July Factory Orders Drop Most in 16 Years (Update3)
Bloomberg - European companies are also dealing with a rout in the U.S. subprime mortgage market which is pushing up the cost of credit. Turmoil worsened on Aug. 9 after some European banks acknowledged their vulnerability to rising defaults on American subprime ...
2007-09-06 04:35:00 -
Mortgage foreclosures on rise as tax auctions sell seized houses
North Channel Sun - In a move to cushion the fall from grace subprime borrowers felt when the risky-lending market began collapsing last March, federal banking regulators, including the Federal Reserve, are asking mortgage companies to help borrowers at risk of ...
2007-09-05 10:51:00 -
Regulators To Lenders: Work With Borrowers
CBS News - The joint statement also encouraged the mortgage servicing companies to consider referring borrowers in trouble to qualified homeownership counseling services. Fed Governor Randall Kroszner said that the joint guidance was meant to encourage the ...
2007-09-04 11:32:00 -
Fed urges US mortgage lenders to help struggling borrowers
Times Online - The US Federal Reserve yesterday urged mortgage companies to help borrowers who fall behind with home loan repayments by offering deferral plans and renegotiating the terms of their debt. The statement is the third made by the Fed this year to ...
2007-09-04 05:59:00 -
Growth in U.S. Service Industries Probably Slowed in August
Bloomberg - Mortgage companies and some banks are shutting operations as the home-loan market dries up. Cutting Jobs First American Corp., the largest U.S. title insurer, this week said it would eliminate 1,300 jobs. That is about 3 percent of ...
2007-09-05 10:23:00 -
VW moving HQ out of Michigan
Detroit Free Press - I just moved to A2 and like it here very much. But it does get depressing to watch mortgage companies, banks, drug companies, and auto manufacturers leave the state. And its going to really get depressing when Ford goes under soon... Posted: Thu ...
2007-09-06 05:18:00 -
MLD Mortgage finds gem in subprime mess
NorthJersey.com - The latest incarnation of The Money Store hopes to be a beneficiary of the subprime shakeout by acquiring failed mortgage companies on the cheap. MLD Mortgage, a mortgage banking firm that owns the brand promoted by baseball icon Phil Rizzuto, said ...
2007-09-06 04:49:00 -
Mortgage Insurers Call Off Proposed Merger (New York Times)
MGIC Investment Corporation and the Radian Group, scrapped their merger plan on Wednesday, the latest casualty of the turmoil in mortgage markets.
2007-09-05 09:20:00 -
Job cuts as US housing mortgage crisis deepens (The New Zealand Herald)
NEW YORK - Fallout from the US housing slump on mortgage and real estate companies deepened yesterday, as title insurer First American and subprime lender NovaStar Financial announced job cuts and NovaStar's auditor expressed doubt that the company will survive.
2007-09-05 01:32:36 -
MGIC abandons deal for rival mortgage insurer (MSNBC)
Mortgage insurer MGIC Investment Corp. and rival Radian Group Inc. said Wednesday they are abandoning plans to combine the companies, citing troubles in the mortgage industry.
2007-09-05 06:24:02 -
Credit card companies tighten lending practices (The Springfield News-Leader)
The stream of credit offers that has filled consumers' mailboxes in recent years may be slowing just a bit. Although credit card issuers and other companies that lend to consumers have escaped the barrage of defaults that mortgage lenders have suffered, they're nonetheless being more careful about who they lend to, and under what terms.
2007-09-06 01:02:37 -
Credit card companies tweaking terms, offers (MSNBC)
Although credit card issuers and other companies that lend to consumers have escaped the barrage of defaults that mortgage lenders have suffered, they’re nonetheless being more careful about who they lend to, and under what terms.
2007-09-05 02:54:02 -
Federal Reserve, other banking agencies, urge loan companies to help prevent mortgage defaults (Daily Journal)
WASHINGTON (AP) — The Federal Reserve and other banking regulators issued special guidance Tuesday urging loan service companies to work with borrowers in danger of defaulting on their home mortgages.
2007-09-06 06:25:35