Movers: Intel, Time Warner, Alcoa, Monsanto, Satyam
January 7th, 2009Paulson Says GSEs Should Become Public Utility-Like Firms
January 7th, 2009The best option for Fannie Mae and Freddie Mac may be to convert them into public, utility-like organizations that would not hold any investment portfolio, U.S. Treasury Secretary Henry Paulson said on Wednesday. Speaking at the Economic Club of Washington…(read more)
Original post by Mortgage News Daily
Jobs: Big December Loss Coming
January 7th, 2009Analyst Actions: Alcoa, Microchip Technology, Polycom
January 7th, 2009S&P Picks and Pans: Intel, Time Warner, Satyam, Family Dollar, Borland
January 7th, 2009Ohio Mortgage Fraudster Sentenced To 20 Months
January 7th, 2009Timothy Pearson, 37, Beavercreek, Ohio, was sentenced to serve 20 months in federal prison, followed by three years of supervised release, and ordered to pay $171,211 in restitution to the Internal Revenue Service (IRS) for his role in a mortgage fraud scheme. Pearson had previously been employed as a loan officer at: City Fed Mortgage Company located at 3884 Indian Ripple Road, Beavercreek, Ohio; Tri County Mortgage also located at 3884 Indian …
Original post by default@goarticles.com (Andy Adams)
MBA Mortgage Applications Move Down in Week Ending January 2
January 7th, 2009Weekly mortgage applications in the United States fell in the week ending Jan. 2, according to data released from the Mortgage Bankers Association (MBA) on Wednesday, which reported an 8.2% week-over-week decrease in applications. In the previous week…(read more)
Original post by Mortgage News Daily
Missouri Man Pleads Guilty To Loan And Appraisal Misreps
January 7th, 2009Craig A. Long, 36, Kansas City, Missouri, has pleaded guilty to federal mortgage fraud charges. Long pleaded guilty to one count of conspiracy to commit mail fraud and money laundering, and one count of mail fraud.
In his plea, Long admitted he conspired with Leawood, Missouri real estate agent David Kostelec and others to defraud lenders by submitting fraudulent loan applications and false real estate appraisals. In October 2008, Original post by default@goarticles.com (Andy Adams)
Read More…