Mortgage and Financial News From 2008-3-17 Page 4

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• Community Briefs (Updated March 19) (Ahwatukee Foothills News)

  The Phoenix Suns and Banner Children's Hospital are offering one lucky child/student the opportunity to assist The Suns Gorilla in his game night activities as part of the "Gorilla of the Day" contest running now through March 31.
  2008-03-17 04:42:48

• How the financial crisis will affect you (Daily Telegraph)

  The slump in the value of the dollar may be bad news for exporters but for anyone looking for a cheap holiday there has rarely been a better time to fly to the United States.
  2008-03-17 05:11:26

• JP Morgan hailed again as 'saviour of Wall Street' (Independent)

  There is probably no other institution that could have pulled off what JP Morgan Chase has done in snatching Bear Stearns – until last weekend the fifth largest bank on Wall Street – in such rapid fashion and at a price so startlingly low. Even Bear Sterns' glittering Madison Avenue skyscraper is included in the deal.
  2008-03-17 05:12:03

• Rising numbers seek debt advice (BBC News)

  Figures compiled for the BBC show more people are seeking help with mortgage arrears but credit card problems fall.
  2008-03-17 05:17:30

• House prices and mortgage deals down - dire predictions up (Guardian Unlimited)

  Estate agents across the country report 'grim times ahead' with buyers 'virtually non-existent' in many areas
  2008-03-17 05:20:14

• Treasurer: Failed investments cleared by superiors (The Republican)

  SPRINGFIELD - City Treasurer-Collector Salvatore R. Calvanese said today that he was not alone in making decisions to invest city funds with Merrill Lynch, and notified his superiors when the funds began to lose millions of dollars.
  2008-03-17 05:21:26

• How to Win in Today's Housing Market (The Bradford Era)

  (ARA) - For all the dire news coming out of the housing market, there's a big, shiny silver lining waiting for many homeowners and home buyers. The Federal Reserve has repeatedly dropped interest rates in the past month - good news for anyone seeking a mortgage.
  2008-03-17 05:57:35

• Couple stripped of £5million

  Hounslow Guardian - The ARA alleged the Szepietowskis had amassed a large property portfolio through fraudulent mortgage claims and the laundering of rental income through offshore accounts. It also alleged that the Szepietowskis benefited from a phoenix fraud scam ...
  2008-03-17 02:12:00

• Zaio Inc.'s New Technology Helps Lenders Overcome Mortgage Crisis

  Consumer Electronics Net - The traditional process of appraising one property at a time has proven to be time consuming, inefficient, subject to fraud and abuse, and not suitable for valuing entire loan portfolios, as revealed by the current mortgage crisis.
  2008-03-17 08:38:00

• Don't rent out your credit score to weak borrowers

  Chicago Tribune - Big bucks -- and a strong potential for fraud on mortgage applications -- are involved. Some Web site promoters say they can add 80 to 120 authorized users onto a high-quality credit card account before banks or lenders get suspicious.
  2008-03-15 05:59:00

• Sub-prime mortgage watchdogs kept on leash

  Los Angeles Times - ... reviewers' role was just one of several safeguards -- including home appraisals, lending standards and ratings on mortgage ... and Bohan executives said, Wall Street firms and their investor customers accepted increasing levels of default and fraud ...
  2008-03-17 12:27:00

• From buying to selling, 'Home Rich' has it covered

  USA Today - Particularly disturbing are Willis' cautionary tales on mortgage fraud. Advance knowledge of such schemes as foreclosure fraud — con artists who prey on those in danger of foreclosure — and doctored appraisals help arm buyers against becoming ...
  2008-03-16 09:37:00

• FBI freezes accounts in mortgage scheme

  WJRT - Last month, we aired a report on a former Grand Blanc Township couple facing about two dozen mortgage fraud lawsuits. One of the banks' lead attorneys now says the FBI has frozen several of that couple's accounts.
  2008-03-16 05:36:00

• Option One Mortgage Corporation Company Profile - View Option One ...

  Los Angeles Business - ... CDC) Continues to Make Homeownership Dreams Come True NAACP Mortgage Class Action Fast Tracked Manulife Financial Corporation reports record annual and quarterly results MGIC Investment Corporation Reports Fourth Quarter 2007 Results Mortgage Fraud:
  2008-03-17 07:05:00

• Assembly moves on foreclosures

  Baltimore Sun - Another measure would make mortgage fraud a crime punishable by up to 10 years in prison or a $5,000 fine, or both. The legislation enjoys broad support, though some Republican lawmakers object to a provision in the mortgage fraud bill that would let ...
  2008-03-16 03:17:00

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