Mortgage fraud incidents up 45 pct in 2Q (AP via Yahoo! News) Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released Tuesday showed.
Investor Sues to Block Mortgage Modifications (BusinessWeek Online via Yahoo! News) The battle over the mass modifications of troubled mortgages has begun in earnest. On Dec. 1, William Frey, a private investor in mortgage-backed securities, filed a lawsuit in New York State Supreme Court alleging that the proposed modification of some 400,000 home loans originally underwritten by the defunct lender Countrywide Financial is illegal.
Unicredit offers mortgage relief in Italy (AP via Yahoo! News) Italy's largest bank Unicredit said Tuesday it will suspend mortgage payment requirements for 12 months without penalties for homeowners in financial difficulty.
Lehman Japan to Sell $6 Billion in Mortgage Assets, Nikkei Says (Bloomberg) Dec. 2 (Bloomberg) -- Lehman Brothers Holdings Inc.’s Japan units may sell as much as 600 billion yen ($6.4 billion) in mortgage assets by the end of March, Nikkei English News reported, without saying where it got the information.
Lenders' mortgage rationing claim (BBC News) Mortgage rationing is set to become more severe in 2009 without government action, a lenders' group warns.
FDIC's Bair: Hopeful Obama will support her mortgage plan (Market Watch) Federal Deposit Insurance Corporation chairwoman Sheila Bair says she hopes the Obama administration will support a mortgage foreclosure mitigation plan she introduced last month.
SEC May Curb Credit-Rating Conflicts, Delay New Mortgage Grades (Bloomberg) Dec. 2 (Bloomberg) -- The U.S. Securities and Exchange Commission may act to curb conflicts of interest at credit-rating companies while delaying a mortgage-bond ranking proposal faulted by underwriters, two people familiar with the matter said.
Mortgage fraud incidents up 45 pct in 2Q (San Francisco Chronicle) Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released Tuesday showed. Florida...
Pennsylvania mortgage rates decline (BizJournals) Mortgage rates in Pennsylvania declined during the past week, echoing a national trend sparked by the federal government’s decision to buy mortgage-backed securities.
Mortgage fraud incidents up 45 percent in 2Q as lenders tighten standards (San Jose Mercury News) Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared to the year-ago period, as borrowers misstated their financial information to maneuver around tighter lending standards, industry data released today showed
