Mortgage and Financial News From 2007-12-18 Page 6

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  • EU Push for More Mortgages (AP via Yahoo! Finance)

    Europeans would save money if they could pick mortgage providers from other countries -- but European Union nations must also make it easier for lenders to repossess homes, the European Commission said Tuesday.
    2007-12-18 09:23:06

  • U.S. treasury secretary pushes mortgage plan in Stockton (The Sacramento Bee)

    STOCKTON - Visiting one of the nation's most troubled regions for home foreclosures Tuesday, U.S. Treasury Secretary Henry Paulson touted the Bush administration's relief plan for struggling borrowers as a "market solution" and promised improvements if it falls short.
    2007-12-18 05:11:51

  • UPDATE 1-INTERVIEW-White House plays down U.S. recession

    Guardian Unlimited - The plan, hammered out by Treasury in talks with mortgage lenders, would offer some of these homeowners a five-year freeze on their mortgage rates.
    2007-12-18 12:24:00

  • Mortgage woes biggest risk to economy, Paulson says during KC stop

    Kansas City Star - A federally organized, industry funded proposal unveiled two weeks ago by Paulson would temporarily freeze mortgage payments or expedite refinancing for an estimated 1.2 million homeowners whose adjustable rates are expected to jump during the next ...
    2007-12-18 02:04:00

  • Paulson says U.S. mortgage relief plan not a bailout

    Reuters India - Earlier this month, Paulson unveiled a proposal that would temporarily freeze low introductory, or "teaser," rates on subprime mortgage loans for five years so that some borrowers would not face the loss of their homes when the loans reset at higher ...
    2007-12-18 05:18:00

  • Hillary, We Thoroughly Knew Ye

    Washington Post - I'll have a moratorium for 90 days on foreclosures," she said, "then I want to have a five-year freeze on the mortgage rates." Still consulting the paper, she pledged her fealty to "the program called LIHEAP." The speech reached its climax when she ...
    2007-12-18 06:08:00

  • NAACP files Lawsuit against major lenders for alleged racial ...

    Xinhua News Agency - Bush's mortgage bailout "too little too late," the NAACP said Bush's recent plan to freeze introductory mortgage rates for five years won't help the majority of African Americans victimized by discriminatory lending practices. Brian Kabateck ...
    2007-12-18 06:00:00

  • St George predicts higher mortgage interest rates

    News.com.au - ST GEORGE Bank says it expects Australian banks will have to pass on higher funding costs to their customers as funding costs for home loans rise. "The challenge for banks in Australia at the moment is the rising cost of borrowing," St George ...
    2007-12-18 05:32:00

  • Fed meets to discuss new mortgage protections (Washington Post)

    WASHINGTON (Reuters) - The Federal Reserve Board on Tuesday considered new protections for high-cost mortgage borrowers to avoid a repeat of the loose lending standards that have put many Americans at risk of losing their homes.
    2007-12-18 06:58:54

  • Repeat Florida Mortgage Fraud Offender Sent Back to Prison

    All American Patriots - December 17, 2007 -- TALLAHASSEE, FL - Florida Attorney General Bill McCollum today announced that a Broward County man was sentenced to 25 years in prison after he violated terms of his criminal probation by committing mortgage fraud. Nicholas ...
    2007-12-16 03:54:00

  • Ex-Rockford loan officer's sentence includes no chance of parole

    Rockford Register-Star - A former Rockford loan officer was sentenced to 20 months in federal prison and fined nearly $500,000 for her part in a five-person mortgage fraud ring that ran from 2001 to 2003. Rhonda Torossian, 46, of Rockford was sentenced today in federal court ...
    2007-12-18 09:47:00

  • Man pleads guilty in mortgage fraud

    Record - SACRAMENTO - A 27-year-old Dublin man pleaded guilty Monday and could spend up to five years in prison for lying under oath to a federal grand jury in connection with an ongoing mortgage fraud investigation in Stockton, the U.S. Attorney's Office ...
    2007-12-17 11:52:00

  • Nine charged with mortgage fraud

    Anchorage Daily News - A federal grand jury has indicted nine people and one Anchorage mortgage company for allegedly using fraudulent home loans to illegally pocket $1.7 million. The case is the biggest fraud scheme ever prosecuted in Alaska and is unique because it ...
    2007-12-18 04:10:00

  • Flood victims, affordable housing need $58 million

    Seattle Times - The proposed package, which will be considered when the state Legislature convenes next month, also would provide financial-counseling services and programs aimed at curtailing mortgage fraud and helping homeowners avoid foreclosure. The floods that ...
    2007-12-18 07:16:00

  • Wide sweeping fraud sting reaches Marco

    Naples Daily News - A mortgage fraud sting has netted 31 indictments in a scam involving 15 properties on Marco Island and nine other South Florida properties in Miami-Dade and Broward counties. The announcement was made Tuesday by U.S. Attorney Alex Acosta after ...
    2007-12-18 01:50:00

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