Mortgage and Financial News From 2007-11-8 Page 8

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• Judge tosses out lawyer's mortgage fraud charges (Toronto Star)

  A judge has thrown out charges against a York Region lawyer who was accused of participating in a mortgage fraud, ruling he has already suffered financially, emotionally and physically because of a delay in bringing his charges to court.
  2007-11-08 02:12:32

• Tech Selloff Slaps Apple

  Street.Com - SAN FRANCISCO -- After ravaging the shares of tech companies that sell mostly to businesses, Thursday's selloff fell heavily on Apple ( AAPL - Cramer's Take - Stockpickr ) as fears that the unfolding mortgage-market crisis could affect consumer sales ...
  2007-11-08 02:23:00

• Spending Worries Drag on Cisco Shares

  Forbes - Many financial companies are being pressured by large writedowns related to troubles in the mortgage industry. The company, he noted, is in the midst of a product transition - and its "legacy products were not competitive on a price/performance ...
  2007-11-08 01:04:00

• Ohio to become more aggressive with subprime mortgage lenders

  CNBC - ... and attorney general said Thursday they would issue subpoenas and take other aggressive measures against subprime mortgage ... The changes will also involve a more thorough auditing process that will make it easier to monitor whether companies are ...
  2007-11-08 02:02:00

• Most U.S. Stocks Rise, Boosted by Late Rally in Bank Shares

  Bloomberg - The Dow average has fallen more than 360 points twice in the last five days and the S&P 500 is poised for its worst week in a month on speculation financial companies face more losses on mortgage assets. To contact the reporter on this ...
  2007-11-08 01:40:00

• NY warned that action against subprime lenders can sink economy

  Newsday - A federal regulator said Thursday that Cuomo misstated the risks the mortgage finance companies face from faulty home appraisals. James Lockhart, director of the Office of Federal Housing Enterprise Oversight, told Cuomo in a letter that government ...
  2007-11-08 01:40:00

• US regulator defends Fannie, Freddie in response to New York AG probe

  Forbes - WASHINGTON (Thomson Financial) - The federal regulator of Fannie Mae and Freddie Mac today told New York Attorney General Andrew Cuomo that both mortgage purchasing companies already have programs in place aimed at avoiding mortgages based on ...
  2007-11-08 11:53:00

• County treasurer angry over letters sent to property taxpayers

  WLS - November 8, 2007 - Cook County treasurer Maria Pappas is fighting-mad over letters sent to more than 130,000 homeowners about their property tax payments due in early December. The letters come from at least a dozen banks and mortgage companies. All ...
  2007-11-08 02:52:00

• Mortgage meltdown chokes off second mortgages for downpayments by ...

  CNBC - Typically, homebuyers who couldn't come up with 20 percent of the purchase price for a cash downpayment were required to buy mortgage insurance from companies like PMI Group Inc., Radian Group Inc. and MGIC Investment Corp. to protect lenders from ...
  2007-11-08 02:45:00

• U.S. Stocks Decline, Led by Technology Companies; Cisco Drops

  Bloomberg - The Dow average has fallen more than 360 points twice in the last five days and the S&P 500 is poised for its worst week in a month on speculation financial companies face more losses on mortgage assets. The Chicago Board Options Exchange ...
  2007-11-08 12:36:00

• Ohio sending civil subpoenas to subprime companies

  Reuters - UPDATE 1-Paulson: China risks backlash on currency policy CHICAGO, Nov 8 (Reuters) - Ohio Attorney General Marc Dann said Thursday that more than a dozen civil investigative demand subpoenas will be sent shortly to companies in the subprime mortgage ...
  2007-11-08 03:27:00

• Pappas Calls on Mortgage Companies to Rescind "Frightening" Letters to ...

  Forbes - And Demands the Companies Pay Taxes on Escrow Counts as Law Requires CHICAGO, Nov. 8 /PRNewswire-USNewswire/ -- Cook County Treasurer Maria Pappas today called on mortgage companies to rescind thousands of letters meant to "frighten" property owners ...
  2007-11-08 04:07:00

• Regulator Objects to Cuomo Subpoenas

  Forbes - The federal regulator who oversees Fannie Mae and Freddie Mac on Thursday accused New York's attorney general of overstating risks the mortgage finance companies face from faulty home appraisals. James B. Lockhart, director of the Office of Federal ...
  2007-11-08 02:52:00

• Ohio to Send Out More Than a Dozen Subpoenas in Mortgage Probe

  Bloomberg - Nov. 8 (Bloomberg) -- Ohio Attorney General Marc Dann will issue more than a dozen subpoenas to mortgage companies after 20 subprime lenders failed to sign a voluntary state agreement to help delinquent borrowers avoid foreclosures. Dann announced ...
  2007-11-08 01:54:00

• 3 companies to pay $7.4m for violating do-not-call list (Boston Globe)

  WASHINGTON - Craftmatic Industries Inc. , ADT Security Services Ltd., and Ameriquest Mortgage Co. must pay a total of $7.4 million in penalties for violating the US "do-not-call" registry because they phoned consumers against their wishes, the Federal Trade Commission said.
  2007-11-08 08:51:55

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