Mortgage and Financial News From 2008-1-3 Page 24

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• Top Spammer Canned In Detroit (ClickOnDetroit)

  Detroit's top federal prosecutor says a man who is one of the nation's leading senders of "spam" e-mail made millions of dollars by manipulating Chinese stock prices.
  2008-01-03 02:57:36

• Officials Urge Patience in Light of Recent Mortgage Fraud Case (KLAS Las Vegas)

  The case against Matthew Marlon proves desperation can lead to greed by homeowners and potential criminal scams. But protecting yourself can be easy. The case is a good opportunity to remind sellers to slow down and make sure every part of the sale is above board. Reporter Jonathan Humbert will have tips to protect yourself at 4, 5 & 6.
  2008-01-03 03:02:50

• Fund Manager Faces Legal Siege Over Investments (NYTimes.com via Yahoo! Finance)

  State Street ousted a senior executive on Thursday and said it would set aside $618 million to cover legal claims stemming from investments tied to mortgage securities.
  2008-01-03 03:39:19

• Securities fraud suits spike (San Jose Mercury News)

  The number of federal class-action lawsuits alleging securities fraud spiked 43 percent in 2007 as the subprime mortgage mess unfolded, ending a two-year decline, according to research released Thursday by the Stanford Law School.
  2008-01-03 03:39:59

• Sterling sets fresh trough vs euro

  International Herald Tribune - A quarterly Bank survey on Thursday showed that households and companies are likely to find it harder to borrow in the coming months, while lenders expect mortgage defaults to rise and demand for home loans to fall. A run of weak data, particularly ...
  2008-01-03 07:33:00

• Bank of America sees value in financial sector bonds

  CNBC - Bond insurers, mortgage insurers and homebuilders should also perform well as liquidity improves, according to Bank of America strategists. Though financial companies and homebuilders still face head winds, the wide yield spreads on their bonds ...
  2008-01-03 12:55:00

• Goodrich lands Department of Defense contract

  Charlotte Business Journal - Mortgage support companies feel housing slump effects [Birmingham] Ex-Lt. Gov. Baxley forms real estate business [Birmingham] Vestavia RE/MAX owners buying Cobb Travel building [Birmingham] Goodrich Corp. has landed a contract with the U.S ...
  2008-01-03 02:00:00

• CMBS issuance to plunge, buoying spreads -Citi

  Reuters - ... will increase scarcity value of the securities, helping them outperform debt of U.S. companies and government-sponsored Fannie Mae and Freddie Mac, Citigroup analysts led by Darrell Wheeler said in a research note. New sales of commercial mortgage ...
  2008-01-03 01:52:00

• U.S. Economy: Factory Orders Rise, Employment Slows (Update2)

  Bloomberg - Housing and mortgage-related companies are trimming staff. Seattle-based Washington Mutual Inc., the largest U.S. savings and loan company, said in December it plans to eliminate 3,150 jobs. National City Corp., Ohio's largest bank, yesterday ...
  2008-01-03 02:28:00

• Southwest Bank acquires BMC Mortgage

  Fort Worth Business Press - This is a strategic acquisition for both companies,” said Boyd, founder of BMC Mortgage Services, in a release. “It allows BMC to expand immediately across the Metroplex with multiple branch offices, and an army of bankers funneling loans into ...
  2008-01-03 01:17:00

• Dow recovers as data lifts Wall St mood

  CNBC - ... to report strong quarterly operating earnings, which overshadowed news of a $279 million charge for subprime mortgage ... Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the ...
  2008-01-03 11:58:00

• Countrywide to Cut Chicago-Area Jobs

  Los Angeles Business Journal - The Chicago Tribune reports that the cuts will begin Jan. 18 and will bring the number of Chicago-area employees who've lost their jobs at mortgage companies in the past nine months to about 1,370, the Tribune said. This announcement comes the same ...
  2008-01-03 02:43:00

• Six plead not guilty in Provo River Bottoms mortgage fraud

  Salt Lake Tribune - ... loan and the actual value of the properties. The scheme -- which pulled in KUTV Channel 2 sports anchor Dave Fox, who has admitted he made a misrepresentation to obtain a loan for one of the homes -- eventually caused two mortgage companies to ...
  2008-01-03 12:55:00

• Banks face struggle in mortgage-backed LBO debt

  Reuters - NEW YORK (Reuters) - Banks may struggle this quarter placing a planned $20 billion in commercial mortgage-backed securities related to previously agreed takeovers of marquee companies like Hilton Hotels Corp -- potentially leaving the loans on their ...
  2008-01-03 02:21:00

• Mortgage Leads, Where to Begin - Best Syndication

  Mortgage Leads, Where to BeginBest Syndication, CA - 1 hour agoIf you are considering investing your hard earned money with a mortgage lead company, or you are switching lead companies because you have gone through the ...
  2008-01-03 01:13:15

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