Mortgage and Financial News From 2007-10-17 Page 14

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• Mortgage resets: a rude awakening (CNN Money)

  About $50 billion in adjustable rate mortgages reset this month, driving interest rates up for many borderline borrowers. And despite efforts to raise awareness, it doesn't look like anyone is really prepared for what's to come.
  2007-10-17 11:07:17

• Mortgage demand climbs as rates hold steady (USA Today)

  Mortgage applications rose for a second straight week, largely reflecting a rise in demand for home purchase loans as interest rates held steady, an industry group said Wednesday.
  2007-10-17 05:32:04

• Witness: Contractor lavished gifts on Cunningham

  San Francisco Gate - Wilkes, 53, has pleaded not guilty to 14 counts of conspiracy, bribery, fraud and money laundering. His lawyer argued in ... Prosecutors say that Wilkes paid $625,000 toward Cunningham's houseboat and a mortgage on his Rancho Santa Fe mansion in ...
  2007-10-17 01:26:00

• Ex-Berkshire salesman Thow cited in 'callous and audacious' fraud ...

  Canada East - A BCSC panel found that Thow "perpetrated a fraud, made misrepresentations, traded in securities without being registered ... They now are living on their pensions, much of which go to mortgage payments. In another case, two retired sisters gave Thow ...
  2007-10-17 12:43:00

• Grand jury indicts former Greeley Realtor, banker

  Greeley Tribune - A former Greeley Realtor and banker turned himself in at the Weld County Jail on Tuesday after a grand jury indicted him for investigation of theft involving mortgage fraud. The indictment charged R. Dean Juhl, a partner with JS Real Estate, a one ...
  2007-10-16 11:50:00

• BCSC finds Thow perpetrated ‘one of the worst fraud's' in B.C ...

  Globe and Mail - BCSC finds Thow perpetrated ‘one of the worst fraud's' in B.C. history ... to invest primarily in construction loans and shares of a Jamaican bank, advising them to sell their mutual funds and mortgage ...
  2007-10-17 08:18:00

• State shuts down Plainfield mortgage lender

  Batavia Sun - The state's Mortgage Fraud Task Force and Department of Financial and Professional Regulation probed Investor's Choice with assistance from the DuPage County Sheriff's Office, the release indicated. State and local agents searched the company's ...
  2007-10-17 01:37:00

• Paulson seeks licensing after 'shameful' lending scandal

  The Australian - Existing federal laws dealt with mortgage fraud, disclosures, fair lending and unfair and deceptive practices, but enforcement authority varied across different federal agencies. "States have also enacted an additional layer of regulation, typically ...
  2007-10-17 01:05:00

• Grand jury indicts former Greeley Realtor, banker (Greeley Tribune)

  A former Greeley Realtor and banker turned himself in at the Weld County Jail on Tuesday after a grand jury indicted him for investigation of theft involving mortgage fraud.
  2007-10-17 12:16:07

• Former Berkshire salesperson committed fraud, BCSC panel finds (Investment Executive)

  A British Columbia Securities Commission panel has found that Ian Gregory Thow, a former mutual fund salesperson with Berkshire Investment Group Inc., perpetrated a multi-million dollar fraud between January 2003 and May 2005 when he took money his clients gave him to invest and instead spent it on himself.
  2007-10-17 12:48:32

• State fraud taskforce revokes license of DuPage Co. mortgage company (KWQC-TV 6 Davenport)

  PLAINFIELD, Ill. (AP) - State regulators and DuPage county authorities revoked the license a surburban Chicago mortgage company after searching the Planfield office today.
  2007-10-16 11:13:37

• Paulson: Housing crisis a ‘risk’

  Register-Guard - WASHINGTON — Treasury Secretary Henry Paulson said Tuesday that the unfolding housing crisis poses a significant risk to the economy and called for Congress and private mortgage companies to move more quickly to help. But Democrats in Congress said ...
  2007-10-17 08:47:00

• Countrywide to take up to $150M charge

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... LOS ANGELES (AP) -- Struggling mortgage lender Countrywide Financial Corp. expects to book a pretax charge ranging from $125 ...
  2007-10-17 12:14:00

• Beware banks' bragging on earnings

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... to the firms that could have a hard time recovering from the horrendous hits they've taken from troubled loans and mortgage ...
  2007-10-17 12:22:00

• J.P. Morgan profit rises despite markdown

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... debt crunch and fears about home loans given to borrowers with weak credit have led to a decline in the value of mortgage ...
  2007-10-17 12:43:00

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