Mortgage and Financial News From 2007-12-22 Page 13
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TheStar.com | Ontario | Man, 90, off hook for loan: Court
Toronto Star - For Paul Reviczky, a 90-year-old victim of mortgage fraud, it's the best possible ending to a two-year nightmare. In a precedent-setting decision, Ontario superior court has taken another step toward protecting victims like Reviczky from being on the ...
2007-12-22 01:21:00 -
Subprime Loans Could Yield Lots of Work for White-Collar Defense ...
Law.com - Simple mortgage fraud is nothing new for federal prosecutors. Just last month, the U.S. Attorney's Office for California's Northern District indicted Edward Batayeh, former CFO of San Ramon, Calif.-based CHL Mortgage Group, for bilking four financial ...
2007-12-21 05:43:00 -
Hindu temple members fighting eviction
Union Leader - The temple has accused G&G of mortgage fraud and claims that the property was taken illegally. Members of the temple filed several lawsuits over the dispute in Rockingham County Superior Court, all of which have been dismissed. But an appeal of one of ...
2007-12-21 09:17:00 -
Bank fraud suspected in Ramsey's Town Center plan
Minneapolis Star Tribune - Bank fraud suspected in Ramsey's Town Center plan The Town Center project planned for the rural Anoka County town faltered ... After that loan went into default, one of the 19 banks, Minnwest Corp., was left holding the mortgage on 150 foreclosed acres ...
2007-12-21 10:22:00 -
Troubled Evergreen firm owns land and homes in Alliance
Alliance Review - The recent indictment in Akron of individuals alleged to be involved in a mortgage fraud scheme has a connection to Stark County. "These individuals were caught cheating hundreds of people in a complex mortgage fraud system," said Summit County ...
2007-12-21 08:06:00 -
Hayward manpleads guilty to fraud
Inside Bay Area - A Hayward man, who worked for an Emeryville mortgage broker firm, pleaded guilty this week to fraud charges stemming from what federal officials said was a scheme to obtain kickbacks from borrower's escrow accounts. Renato Gonzales Quiazon received ...
2007-12-22 02:39:00 -
Prosecutors say purchase of strip club, fraud linked
Akron Beacon Journal - Summit County prosecutors, who on Thursday announced a 147-count indictment in an alleged mortgage fraud and money laundering scheme, say they have linked the multimillion-dollar operation to the purchase of an Akron strip club. Stripped, a nightclub ...
2007-12-22 12:02:00 -
Summit County officials step up efforts following complex mortage fraud case (WKSU Kent State University)
Summit County officials are stepping up efforts to educate homebuyers following a two-year investigation into alleged mortgage fraud that cheated 500 customers. WKSU's Amanda Rabinowitz reports.
2007-12-21 02:23:29 -
Hayward manpleads guilty to fraud (Oakland Tribune)
A Hayward man, who worked for an Emeryville mortgage broker firm, pleaded guilty this week to fraud charges stemming from what federal officials said was a scheme to obtain kickbacks from borrower's
2007-12-22 02:56:40 -
Prosecutors say purchase of strip club, fraud linked (Akron Beacon Journal)
Summit County prosecutors, who on Thursday announced a 147-count indictment in an alleged mortgage fraud and money laundering scheme, say they have linked the multimillion-dollar operation to the purchase of an Akron strip club.
2007-12-21 10:42:58 -
Banks to abandon 'Super-SIV' fund
CNN Money - feed://rss.cnn.com/rss/money_news_companies.rss ... source for short-term financing, the proceeds of which were used to buy higher-yielding, long-term assets, such as mortgage ...
2007-12-21 01:46:00 -
2007: Biggest Companies Took Biggest Hits
Los Angeles Business Journal - Countrywide for its loose mortgage lending practices and Mattel for its sale of lead-tainted toys manufactured in China. In all, the combined market capitalization of the roughly 200 companies that comprise the LABJ Stock Index declined by around 17 ...
2007-12-22 02:18:00 -
Lifting the Lid: Rise in CEO pay could spur shareholder actions
Reuters - LOS ANGELES, Dec 21 (Reuters) - Surveys showing double-digit pay hikes for U.S. chief executives ahead of the sub-prime mortgage meltdown could strengthen investors' hands in proxy battles over how public companies pay their executives. The Corporate ...
2007-12-21 02:51:00 -
FBR to Buy Back Stock, Forgo Paying Dividend
Washington Post - FBR, established in 1989 as a securities research and trading firm, built a franchise helping companies raise money. In 2005, the firm made a fateful decision to invest about $550 million in the subprime mortgage business, including the acquisition ...
2007-12-21 08:56:00 -
Mortgage rules hinge on steadfast enforcement
Raleigh News & Observer - They packaged home loans into mortgage-backed securities and collateralized debt obligations that were sold to investors. Spottily regulated mortgage brokers and nonbank lenders got a pass from companies that securitized loans and sold them. No one ...
2007-12-21 11:33:00