Mortgage and Financial News From 2007-11-8 Page 9

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• Regulator Objects to Cuomo Subpoenas (AP via Yahoo! Finance)

  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.
  2007-11-08 02:51:12

• Six are indicted for mortgage fraud (BizJournals)

  Federal prosecutors in Kansas believe they've uncovered another mortgage fraud scheme in the Kansas City area and indicted six people for their roles in an alleged conspiracy that netted $14 million in illegally obtained loans.
  2007-11-08 07:52:03

• U.S. Stocks Decline, Led by Technology Companies; Cisco Drops (Bloomberg.com)

  Nov. 8 (Bloomberg) -- U.S. stocks tumbled for a second day after Federal Reserve Chairman Ben S. Bernanke said the economy will probably ``slow noticeably'' by year-end and Cisco Systems Inc. reported weakening demand from financial and car companies.
  2007-11-08 11:57:41

• Pressure on banks to lead subprime response (FT.com via Yahoo! News)

  US policymakers are shifting towards a response to the subprime mortgage crisis that would require greater concessions by investors and financial services companies.
  2007-11-08 11:25:22

• Cuomo Expands Mortgage Inquiry (WNYC New York Public Radio)

  The New York Attorney General has expanded his investigation into mortgage fraud to include companies that buy loans from banks. REPORTER: Andrew Cuomo has subpoenaed Fannie Mae and Freddie Mac - se....
  2007-11-08 10:53:28

• First Commercial Lender in Calyx Network, Silver Hill(R) Makes Program ...

  PR Newswire - Silver Hill Financial(R) is now included in the lender category of Calyx's Point(R) loan origination system (LOS) software, the country's leading LOS according to Wholesale Access' Mortgage Broker Study. This milestone is important to mortgage ...
  2007-11-07 08:01:00

• Morgan Stanley Marks Down $3.7 Billion, Cuts Outlook (Update5)

  Bloomberg - Nov. 8 (Bloomberg) -- Morgan Stanley joined Merrill Lynch & Co. and Citigroup Inc. in booking losses on subprime mortgage ... Morgan Stanley fell from the highest in at least six years, dropping 6 basis points to 124 basis points, according to broker ...
  2007-11-08 01:26:00

• Banker's hours?

  Globe and Mail - Instead of taking the token interest rate discount offered by the bank, people tried a mortgage broker. Credit unions have been nibbling at the banks, too, and so have players as big as the insurer Manulife Financial. The banks don't like the trend ...
  2007-11-08 06:38:00

• Mortgage brokers fear 'extinction' if new bill passes

  Boston Online - A mortgage broker is often confused with a mortgage banker. A broker does not actually lend money. A broker acts as a liaison between a consumer who needs financing for a mortgage loan and a lender who has money available to finance the purchase. The ...
  2007-11-06 03:59:00

• High-profile broker arrested in sex case

  East Valley Tribune - Buckeye police arrested the president of the Arizona Association of Mortgage Brokers on Tuesday on suspicion of sexually assaulting a woman he met at a Christmas party in 2005. Stan Lund, 51, of Buckeye posted his $5,040 bail Tuesday and was allowed ...
  2007-11-08 01:26:00

• German Stocks Advance, Led by Siemens, TUI, Deutsche Postbank

  Bloomberg - The mortgage broker that cut its profit forecast two months ago said third-quarter earnings fell 2.9 percent to 3.4 million euros as home-loan demand slowed. Thielert AG (T3C GY) tumbled 18 cents, or 1.4 percent, to 12.94 euros. Goldman ...
  2007-11-08 08:54:00

• High-profile broker arrested in sex case (East Valley Tribune)

  Buckeye police arrested the president of the Arizona Association of Mortgage Brokers on Tuesday on suspicion of sexually assaulting a woman he met at a Christmas party in 2005.
  2007-11-08 01:48:19

• A near-retirement plan

  CNN Money - As we've seen with the subprime mortgage-backed securities of late, downgrades happen. So to seriously consider buying ... And for advice about choosing an adviser, click here .) So as I see it, your father-in-law has two basic choices. One is to ...
  2007-11-08 07:42:00

• Close Brothers Rejects Cenkos Offer as `Inadequate' (Update3)

  Bloomberg - ... as U.S. and European securities firms are too busy counting up the damage from the collapse of the U.S. subprime mortgage ... Close Brothers, which lends to small and medium-sized companies and provides mergers advice, in September posted a 1 percent ...
  2007-11-08 08:11:00

• Harper anxious about loonie's 'rapid' surge

  Globe and Mail - But I doubt it since it probably will melt away in bad mortgage debt investment paper made in the US. So Gov will have a hard ... Being raised in a delayed gratification model, we are suspect of the advice of the Bank. Just wanted to verify our position ...
  2007-11-08 12:29:00

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