Mortgage and Financial News From 2007-10-12 Page 10

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• Carson chiropractor heading for prison for tax fraud (Nevada Appeal)

  A Carson City chiropractor must surrender to federal authorities next month to begin serving a two-year prison sentence for income tax fraud, an official said Thursday.
  2007-10-12 06:35:34

• Education helps end mortgage fraud (Milton Herald)

  Mortgage fraud convictions are nothing new for his office, said David Nahmias, U.S. Attorney for Northern Georgia.
  2007-10-12 08:37:56

• KUTV's Fox apologizes for mortgage fraud, will return as sports anchor (The Salt Lake Tribune)

  Posted: 7:15 AM- KUTV sports anchor Dave Fox - one of three people charged in a mortgage fraud case -- is speaking out.
  2007-10-12 06:33:52

• Big shake-up at Citi

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... Citigroup is trying to boost performance as it and other banks deal with recent problems in the mortgage industry and ...
  2007-10-12 06:08:00

• TFN NEWS BRIEFING: Macroeconomics highlights to 10:10 BST

  CNBC - 2007-10-11 23:57:32 Democrats agree on Fannie, Freddie caps WASHINGTON (AP) - Congressional Democrats have reached a compromise on allowing two government-sponsored mortgage companies to increase their debt holdings in an effort to help financially ...
  2007-10-12 02:19:00

• GE's quarterly profit rises 14%

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... GE took a $1.4 billion charge for its planned sale of a Japanese personal loan and a mortgage business, while realizing a ...
  2007-10-12 06:22:00

• Foreclosure boom a boon for four small law firms

  Minneapolis-St Paul Business Journal - Four Twin Cities law firms have cornered the market, representing mortgage companies in 85 percent of the 555 foreclosure auctions in Hennepin County last month, according to the Hennepin County Sheriff's Web site. Woodbury firm Wilford & Geske ...
  2007-10-12 06:22:00

• Big banks on the chopping block

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... have estimated that the two combined would report losses totaling more than $3 billion on leveraged loans and mortgage ...
  2007-10-12 09:50:00

• Centex expects sales drop, shares fall

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... financial services affiliate to report a provision of $60 million for higher losses due to the tightening in the mortgage ...
  2007-10-12 10:04:00

• Profit down 40% at Severn Bancorp

  Baltimore Sun - Congressional Democrats have reached a compromise on allowing two government-sponsored mortgage companies to increase their debt holdings in an effort to help struggling homeowners. House and Senate lawmakers said yesterday that they will support ...
  2007-10-12 05:25:00

• Regulator Proposes to Raise Capital Requirements for Fannie, Freddie

  Washington Post - Also yesterday, Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee , said he would introduce legislation to temporarily increase the caps on the companies' mortgage investment portfolios even in the absence of the broader ...
  2007-10-12 05:54:00

• Countrywide chief to be investigated by US regulator over share sales

  Times Online - Thousands of jobs have been cut at mortgage companies and the Wall Street firms that deal in related securities. Billions of dollars of investments have been lost, and previously agreed buyouts are being cancelled and renegotiated as the debt markets ...
  2007-10-12 08:17:00

• Greenpoint Mortgage cutting 61, closing office

  Chicago Tribune - Heads continue to roll at mortgage companies in town, with the number of Chicago-area employees getting pink slips over the past six months surpassing 1,200. Greenpoint Mortgage Funding Inc . , a unit of Capital One Financial Corp ., has alerted the ...
  2007-10-11 11:49:00

• Lone Star Completes Accredited Buyout

  Forbes - Private equity firm Lone Star Fund V LP said Friday it completed its acquisition of subprime mortgage lender Accredited Home Lenders Holding Co. Lone Star paid $11.75 per share for Accredited. Subprime mortgage companies have been struggling in ...
  2007-10-12 07:05:00

• Digest: Mortgage volume off at Countrywide (Houston Chronicle)

  Countrywide Financial Corp. said Thursday that its mortgage fundings for September fell 44 percent from the same period a year ago. Countrywide, the nation's largest mortgage lender, said total mortgage fundings last month fell to $21.2 billion from $38.1 billion a year ago.
  2007-10-11 10:49:06

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