Mortgage and Financial News From 2007-10-2 Page 9

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  • Over 100 people call police in Hastert probe

    Union - On Sept. 21, Law enforcement seized a truckload of documents from the mortgage company on Brunswick Road and are currently investigating allegations of real estate fraud. Police are investigating each individual case of concern. Many who have ...
    2007-10-02 10:59:00

  • Group: Vacant Homes Bring Danger

    WXIA 11 Alive - Many homes sit vacant because of mortgage fraud -- once inflated in price and sold they're actually worth much less. Some see that as a opportunity. "We have a lot of houses that are out there that we can get people in that are affordable today," said ...
    2007-10-02 05:23:00

  • Feds: Financier cheated investors out of $5 million

    Patriot-News - ... high returns on their money but instead defrauded them out of more than $5 million, federal prosecutors charged. Edward Ronald Schnable Jr., 47, of Souderton, was charged Tuesday in a six-count mail- and wire-fraud indictment. Schnable ran a mortgage ...
    2007-10-02 02:12:00

  • Guest column: Trouble on the home front

    Bedford Times-Mail - The Times-Mail ran a recent article dealing with the increasing number of mortgage foreclosures affecting us all. (How to keep your home — foreclosures, mortgage fraud affect all Hoosier taxpayers, not just troubled homeowners, Sept. 23). At the ...
    2007-10-02 07:32:00

  • New York fund challenges Vincent Tchenguiz for control of Erinaceous

    Times Online - Last year Erinaceous hit the headlines over a police investigation involving Ian “Flash” McGarry, a surveyor at its Dunlop Haywards subsidiary, for his role in an alleged mortgage fraud ring. Erinaceous settled out of court on a claim brought by ...
    2007-10-02 03:31:00

  • Bank fraud convict spared prison today

    Rochester Democrat and Chronicle - (October 2, 2007) — A Greece man who went to prison for his role in a massive mortgage-fraud scheme was spared prison today on a new conviction for bank fraud. U.S. District Judge Charles J. Siragusa ordered John Siciliano to spend six months in a ...
    2007-10-02 10:38:00

  • State Senator Wants Real Estate Fraud Fee (KERO 23 Bakersfield)

    Real estate prices could be going up by $2 if one lawmaker has his way.
    2007-10-02 10:24:25

  • US mortgage buyer settles with SEC (Accountancy Age)

    A US mortgage buyer is to pay a $50m settlement fine to the US Securities and Exchange Commission following allegations that it manipulated earnings for three years.
    2007-10-02 03:31:28

  • 2 mortgage brokers to plead guilty in alleged equity skimming (Minneapolis-St. Paul Star Tribune)

    Two Twin Cities mortgage brokers have agreed to plead guilty in federal court this week in connection with an alleged equity skimming scheme that targeted financially distressed and vulnerable homeowners. Michael Fiorito, 39, of Prior Lake, pleaded guilty today in U.S. District Court in Minneapolis to a single mail fraud count in exchange for the dismissal of a conspiracy charge and three other ...
    2007-10-02 11:35:07

  • REFILE-Credit Suisse cuts 170 investment banking jobs

    Reuters - The move follows a similar cutback of 150 jobs in Credit Suisse's mortgage-backed securities business last week. U.S. banks and financial service companies have been cutting tens of thousands of jobs as tightening credit conditions, particularly ...
    2007-10-02 02:48:00

  • Mortgage Crisis Could Create Talent Gridlock

    Forbes - With the end of the mortgage crisis nowhere in sight, companies will need to move quickly to reassess their recruiting efforts and relocation policies, as this crisis will not only have an impact on external hiring; it will also impact internal ...
    2007-10-02 04:47:00

  • Subprime concerns ease, Dow hits new high

    Detroit Free Press - U.S. stocks rallied, sending the Dow Jones Industrial Average to a record high, as investors speculated the worst may be over for banks and construction companies hurt by subprime mortgage losses. Lennar Corp. and D.R. Horton Inc., the two biggest U ...
    2007-10-02 06:27:00

  • European Builders Rally on Speculation Industry Slump Is Over

    Bloomberg - Oct. 2 (Bloomberg) -- Italcementi SpA, Italy's largest cement maker, and other European construction and building- material companies gained as investors bet that industry slump sparked by the U.S. subprime-mortgage crisis is overdone. Spanish ...
    2007-10-02 07:46:00

  • Company Debt Risk Falls for Second Day, Credit Derivatives Show

    Bloomberg - Credit-default swaps on Citigroup Inc. and UBS AG declined, in a show of confidence among traders that the mistakes and constraints that led to the companies' subprime mortgage and leveraged loan writedowns won't get any worse. Investors ...
    2007-10-02 12:54:00

  • GM sales edge up, Ford plummets

    CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... Industry experts said subprime mortgage problems cut into demand for auto sales in September, as some potential buyers put ...
    2007-10-02 11:28:00

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