Mortgage and Financial News From 2007-12-22 Page 3
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Industry dragging feet on 'piggyback' antidote
Baltimore Sun - Credit and mortgage industry experts say score-inflation fraud is contributing to the unusually high rate of delinquencies and foreclosures now roiling the financial markets. Lenders have complained to Congress, state banking regulators and the ...
2007-12-21 03:55:00 -
Counterfeit DVD gang funds Kashmiri terrorists
Scotland on Sunday Online - A SCOTTISH gang is bankrolling murderous terrorist attacks in Kashmir, raising hundreds of thousands of pounds each year through counterfeiting and mortgage fraud, Scotland on Sunday can reveal. MI5 sources say around 50 Scots Asians – most of them ...
2007-12-22 12:26:00 -
Another Man Pleads Guilty In N.J. Mortgage Scam (WCBS-TV New York)
Another guilty plea in a Paterson mortgage scam. Frank Corallo admitted he forged signatures on mortgages he'd helped falsify.
2007-12-22 02:04:55 -
As Wall Street reels, Bush welcomes money from abroad
Globe and Mail - WASHINGTON -- George W. Bush has opened the door wide for foreign companies, including Chinese-owned ones, to help rescue U.S. banks from the subprime mortgage mess. "I'm fine with capital coming in from overseas to help bolster financial ...
2007-12-21 02:12:00 -
Stocks end week on high note
MSNBC - Companies like Research in Motion have reported solid sales growth, but others have had a harder time staying profitable as U.S. consumers struggle with sinking home prices and high energy and food costs. Research in Motion jumped $12.82, or 12 ...
2007-12-21 01:18:00 -
Saudis plan huge sovereign wealth fund
Tehran Times - ... be a formidable rival for other government-owned investment funds in the Middle East and Asia, which are playing an increasingly active role in channeling capital to western companies, particularly financial companies hard hit by the U.S. mortgage ...
2007-12-22 02:21:00 -
Goldman gives CEO record $68m bonus
Gulf News - While Blankfein's pay climbed 27 per cent from 2006, compensation for Morgan Stanley CEO John Mack and Bear Stearns chief James 'Jimmy' Cayne plummeted as their companies suffered from the subprime mortgage fallout. Mack and Cayne, who each received ...
2007-12-22 05:13:00 -
Sarkozy winning support for reforms as he gears up for biggest battle ...
International Herald Tribune - An income tax credit has also been introduced for new mortgage-holders. New tax breaks and financing initiatives have been introduced to encourage small companies, and businesses of all sizes are hailing plans to raise a tax credit for research and ...
2007-12-22 05:06:00 -
Consumers choosing the better way
Seattle Post Intelligencer - I have been a mortgage broker for 17 years, and as such, have always treated my clients ethically. I do not take huge kickbacks or make gigantic yield spread premiums on any client. Since I have been in business for such a long time, the bulk of my ...
2007-12-20 03:56:00 -
Mortgage lessons learned
Florida Keys Keynoter - What happens is that a lot of people get caught up in adjustable-rate mortgages” and they continue to rise,” Key West mortgage broker Pat Labrada said. Many foreclosures are resolved by the lender agreeing to forego some interest payments and ...
2007-12-20 03:56:00 -
Wantage man latest to plead guilty in Paterson mortgage scam
Philadelphia Inquirer - NEWARK, N.J. - A former mortgage broker became the latest person to plead guilty in a wide-ranging scam run by a Mahwah real estate mogul. Frank Corallo, 34, of Wantage faces between 30 and 37 months when he is sentenced in April. He admitted in ...
2007-12-22 01:02:00 -
Eliasof collaborator pleads guilty (The Record)
NEWARK -- Frank Corallo, a former mortgage broker from Wantage, was the latest to plead guilty in a Paterson real estate scam that left banks holding more than $1 million in worthless loans.
2007-12-22 01:28:40 -
Wantage man latest to plead guilty in Paterson mortgage scam (phillyburbs.com)
NEWARK, N.J. - A former mortgage broker became the latest person to plead guilty in a wide-ranging scam run by a Mahwah real estate mogul.
2007-12-22 01:02:03 -
S&P Picks and Pans: Google, Bear, Oracle, RIMM, FedEx
BusinessWeek - Write-downs of mortgage-related assets totaled $1.9 billion, higher than we expected, and costs rose rapidly, particularly ... Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of ...
2007-12-19 03:58:00 -
School district 'weathering' SBA storm
Jackson County Floridan - Good advice is one thing, taking it is another. And Terry St. Cyr ? the Jackson County School District's finance manager ... Administration, it was frozen in early December after a run of withdrawals prompted by the collapse of the subprime mortgage ...
2007-12-22 02:50:00