Wachovia Turns To Brokers For Refinancing Help in its effort to shed troubled pick-a-payment mortgage loans, wachovia corp. is turning to outside brokers for help contacting customers about refinancing options, sources have told the observer. the use of brokers gives the charlotte bank another way to reach more than 500,000 customers about the possibility of converting their pick-a-pay loans into traditional loans. wachovia, which is ... www.charlotteobserver.com
Virginia Gets 6 Years In Mortgage Fraud Scheme a federal judge has sentenced an alexandria man to nearly six years in prison in connection with a mortgage refinancing scheme. biz.yahoo.com
Risky Mortgages Threaten To Keep Housing Market Down - Detroit Free Press in the mortgage industry, they are called liar loans -- mortgages approved without requiring proof of the borrower's income or assets. the worst of them earn the nickname ninja loans, short for no income, no job and no assets. the nation's housing ... www.freep.com
Rex Agreements - Seattle Times the sales pitch is simple: tap into your home equity without taking on more debt, without paying any interest and without having to worry about additional monthly payments, ever. it's getting thousands of people each week to look into something ... seattletimes.nwsource.com
Man Gets 6 Years In Mortgage Fraud Scheme associated press - september 5, 2008 6:05 pm et alexandria, va. (ap) - a federal judge has sentenced an alexandria man to nearly six years in prison in connection with a mortgage refinancing... www.wric.com
Mortgage Rates At Lowest Level Since July washington -- rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-july. freddie mac, the mortgage company, reported thursday that 30-year, fixed-rate mortgages dipped to 6.35 percent this week, down from 6.40 percent, the previous week. www.heraldnet.com
Virginia Gets 6 Years In Mortgage Fraud Scheme - Forbes a federal judge has sentenced an alexandria man to nearly six years in prison in connection with a mortgage refinancing scheme. the u.s. attorney's office says 41-year-old john tsiaoushis also was ordered to pay nearly $4 million in restitution for ... www.forbes.com
Fannie, Freddie Capital Concerns Prompt Paulson To Take Control - Bloomberg sept. 7 (bloomberg) -- treasury secretary henry paulson decided to take control of fannie mae and freddie mac after a review found the beleaguered mortgage-finance companies used accounting methods that inflated their capital, according to people ... www.bloomberg.com
What The Bailout Could Mean For Consumers mortgage rates may fall a bit initially but probably not enough to halt the decline in home prices right away. www.nytimes.com
Outside Brokers Make Calls For Bank in its effort to shed troubled pick-a-payment mortgage loans, wachovia corp. is turning to outside brokers for help contacting customers about refinancing options, sources have told the observer. the use of brokers gives the charlotte bank another way to reach more than 500,000 customers about the possibility of converting their pick-a-pay loans into traditional mortgages. wachovia, which is ... www.charlotteobserver.com
As Rescue Looms, Questions Raised - Boston Globe fannie mae and freddie mac play a critical - and complex - role in the health of the nation's housing market. here are answers to questions about their mission and the impact of the federal government's expected takeover of these companies. q. what ... www.boston.com
Business Briefs a federal judge has sentenced an alexandria man to nearly six years in prison in connection with a mortgage refinancing scheme. the u.s. attorney's office says 41-year-old john tsiaoushis also was ordered to pay nearly $4 million in restitution for the scheme, which occurred from 2004 until last november. according to prosecutors, tsiaoushis carried out the scheme by refinancing two residential ... www.inrich.com
Fitch Rates Northern States Power - Wisconsin's First Mortgage Bonds 'a+' fitch ratings has assigned an 'a+' rating to northern states power company - wisconsin's (nspw) $200 million new issue of 6.375% first mortgage bonds due september 2038. the proceeds will be used to fund the payment at maturity of $80 million of 7.64% senior notes due oct. 1, 2008. the balance of the net proceeds will be used for general corporate purposes that may include the refinancing of ... www.centredaily.com
Century Bank Ceo To Discuss Credit Crisis At Thursday Breakfast - Daily Evening Item lynn - barry r. sloane, co-president and chief executive of century bank discusses "the de-leveraging of america" at the lynn area chamber of commerce sept. 11 business breakfast at the porthole restaurant, starting at 7:30 a.m. "deleveraging refers ... www.thedailyitemoflynn.com
U.s. Mortgage Foreclosures, Delinquencies Reach Highs (update3) - Bloomberg sept. 5 (bloomberg) -- foreclosures accelerated to the fastest pace in almost three decades during the second quarter as interest rates increased and home values fell, prompting more americans to walk away from homes they couldn't refinance or sell ... www.bloomberg.com
Bronson Resets Bonds kalamazoo -- bronson methodist hospital is refinancing $90 million in bond debt it issued in 2005 because of well-known troubles in the financial markets related to subprime mortgage defaults. www.mlive.com
Johns Is. Man Sues Over Misplaced Records for david hair, a simple home refinancing turned into a nightmare. the johns island resident restructured his mortgage in late 2005 without problems, but when he began sending his monthly payments to countrywide home loans, company representatives told him they had no record of his loan. www.charleston.net
Peter Boutell, Lending A Hand: New Tax Credit For First Time Buyers - Santa Cruz Sentinel it is prudent to pay attention whenever the government offers to give you money. that was precisely the intent of the new bill that was signed by the president on july 30. the housing and economic recovery act of 2008 was designed to breathe new life ... www.santacruzsentinel.com