Mortgage and Financial News From 2007-10-12
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Monterey County Herald - Year in jail for fake home loan salesman An unlicensed home loan salesman who fraudulently induced 16 Monterey County residents to refinance their homes has been sentenced to a year in jail and five years probation, during which he is prohibited from ...
2007-10-11 10:59:00 -
FBI: Man set up refinance scheme
Sacramento Bee - A Sacramento man is in custody on charges of bank fraud and money laundering after FBI agents said they tied him to an illegal refinancing of a Los Angeles woman's home so he could collect almost $23,000 in commission. Sennett Hiram Swift, 25, is ...
2007-10-11 11:49:00 -
Clearfield County Home Destroyed By Fire (WJAC 6 Johnstown)
Fire officials in Clearfield County said a Luthersburg home is a total loss after a fire on Wednesday. Six departments were called out to battle the blaze along Locust Lane in Brady Township.
2007-10-11 10:44:08 -
List Of Recalled Infant Cough And Cold Medicines (WNBC)
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2007-10-11 03:18:42 -
FBI: Man set up refinance scheme (The Sacramento Bee)
A Sacramento man is in custody on charges of bank fraud and money laundering after FBI agents said they tied him to an illegal refinancing of a Los Angeles woman's home so he could collect almost $23,000 in commission.
2007-10-12 12:10:33 -
Unlicensed home-loan salesman gets probation (The Salinas Californian)
An unlicensed home-loan salesman who induced 16 victims in Monterey County to refinance their homes through him was sentenced Wednesday to five years of felony probation, the District Attorney's Office said today.
2007-10-11 11:36:45 -
Unlicensed Home Loan Salesman Gets Sentence, Fines (KSBW Salinas)
Monterey County officials say an unlicensed home loan salesman who induced 16 victims in Monterey County to refinance their homes through him was sentenced to five years of felony probation.
2007-10-11 01:06:23 -
Citigroup Management Reorganized Amid Losses
The Money Times - ... on Thursday night promulgated a management shake-up, after almost $6 billion of losses and bad-debt ... fall 60% from year-earlier levels because of the losses tied to the collapse of the subprime mortgage market and the August rout in global credit ...
2007-10-11 11:20:00 -
Hillary 'has the guts to fight for all of us'
Quad-Cities Times - This uncontrolled personal deficit spending is also a large reason for the current situation in the credit markets, including mortgage defaults and the shyness of lenders currently. And contrary to OF’s statement that the economy takes 4-8 years to ...
2007-10-11 12:29:00 -
Subprime mortgages blanketed the nation
Herald Tribune - ... of loan data by The Wall Street Journal indicates that from 2004 to 2006, more than 2,500 banks, thrifts, credit unions and mortgage ... Many loans at risk of going bad have not yet done so. As much as $600 billion in adjustable-rate subprime loans ...
2007-10-12 01:58:00 -
Credit crisis brings changes in Citigroup bosses, JPMorgan job cuts
Earthtimes - ... last week that its third-quarter earnings fell 60 per cent on repercussions from the subprime mortgage ... lost more than 3 billion dollars on drops in the value of mortgages and leveraged buyout loans, credit-trading losses and costs to write off bad ...
2007-10-11 09:40:00 -
Aareal, Deutsche Boerse, Fraport, Q-Cells: German Stock Preview
Bloomberg - ... margins at Germany's fourth-largest mortgage bank are improving, signaling an end to a slide earlier this year. The shares increased 35 cents, or 1 percent, to 35.90 euros. ... Credit Suisse Group cut its recommendation on ...
2007-10-11 11:42:00 -
UPDATE 2-M&T Bank net misses views as credit losses rise
Reuters - Results fell short of analyst estimates as bad loans doubled, and M&T Bank suffered a loss from an investment in a Florida commercial mortgage lender. The company said credit conditions are causing "higher net charge-offs, delinquencies and ...
2007-10-11 09:44:00 -
Allianz, Axa Record Profit Precluded Subprime Debt Temptation
Bloomberg - ... earnings from underwriting precluded the temptations of U.S. subprime mortgage ... July and August after rising defaults on U.S. home loans to buyers with poor credit ... Unprofitable underwriting, equity writedowns and rising bad-loan provisions at ...
2007-10-12 12:25:00 -
Citigroup's Maheras Exits After Loss, Pandit Promoted (Update1)
Bloomberg - ... said its trading chief will leave after almost $6 billion of losses and bad-debt ... fell 60 percent because of losses tied to the collapse of the subprime mortgage market ... after being forced to book losses as a result of the worst shakeout in the credit ...
2007-10-12 02:26:00