Mortgage and Financial News From 2008-3-7 Page 12

Previous Day: 2008-03-06

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• Police could empower property appraisers

  Miami Herald - Rep. Carlos Lopez-Cantera, a Miami Republican, received support from the House's Jobs and Entrepreneurship Council on Thursday morning for a bill that would require law-enforcement agencies to notify county property appraisers of mortgage-fraud cases ...
  2008-03-07 04:23:00

• 60 lawyers caught up in mortgage fraud crackdown

  Times Online - The Solicitors Regulatory Authority (SRA), the body that regulates the legal profession in England and Wales, is investigating up to 60 lawyers on suspicion of mortgage fraud. The crackdown comes after the regulator saw a substantial rise in the ...
  2008-03-06 08:06:00

• Indictment names 4 in mortgage fraud case

  Houston Chronicle - A federal grand jury in Houston has indicted four people in connection with a $15 million mortgage fraud scheme carried out over four years, the U.S. Attorney's Office said Wednesday. According to the indictment, Carlos Paul Gonzalez and Ken Russell ...
  2008-03-04 03:53:00

• Solicitors get sussed to stamp out mortgage fraud

  MyFinances.co.uk - The fight against mortgage fraud has stepped up a pace after the Law Society announced it was to issue advice to solicitors to help combat the crime. Conveyancers will be provided with information on methods used by mortgage fraudsters in a bid to ...
  2008-03-07 04:58:00

• Foreclosure protection bill being drafted (Legislative Gazette)

  In an attempt to reduce the number of foreclosures in New York, Gov. Eliot Spitzer last week announced “Operation Protect Your Home.”
  2008-03-07 10:07:40

• U.S. lawmakers question CEOs involved in mortgage crisis (The Globe and Mail)

  Countrywide CEO appears along with former CEOs of Merrill and Citigroup to explain subprime meltdown
  2008-03-07 10:20:36

• Suspicious Death In Orleans County (R News)

  Orleans County investigators are calling the discovery of a woman's body, suspicious. Sheriff's deputies say the body was discovered overnight in the town of Barre on Maple Street. A passerby made the discovery.
  2008-03-07 10:34:29

• Mortgage crisis guts Cleveland neighborhoods as it bypasses Buffalo (The Buffalo News)

  CLEVELAND — Thirteen homes on East 52nd Street have windows made of wood now. Snow drifts high onto 13 doorsteps, many of which haven't been crossed since thieves ripped out the plumbing to sell for scrap.
  2008-03-07 10:43:57

• Congress quizzes financial execs on CEO pay 'lottery' (USA Today)

  Lawmakers aimed their sights three corporate executives Friday as they questioned how the CEOs managed to take home hundreds of millions of dollars in compensation while their companies were taking a financial nosedive due to the subprime mortgage crisis.
  2008-03-07 11:11:43

• Personal Finance Daily -- March 7 (Market Watch)

  Imagine receiving a cancer diagnosis and beginning treatment, only to find your health-insurance policy yanked out from under you as you are halfway through your sessions. It's called "rescission" in the insurance industry, but it is more like being cut off at the knees.
  2008-03-07 11:26:19

• House committee questions compensation for CEOs involved in mortgage crisis (Park Hills Daily Journal)

  WASHINGTON (AP) — The heads of three companies implicated in the mortgage crisis have been asked to explain how they collectively received hundreds of millions of dollars in compensation while their companies were losing money.
  2008-03-07 11:47:37

• Registered Offender Arrested Again (R News)

  A Rochester sex offender is under arrest, accused of having sexual contact with a young girl. Brighton police arrested Gerald Krouth, 47, of Cayuga street Friday morning. Krouth is a registered level 3 sex offender.
  2008-03-07 11:49:18

• Ambac Gets $1.5 Billion in Capital to Keep AAA Rating (Update9)

  Bloomberg - The companies threatened to downgrade Ambac after the company posted record losses on subprime-mortgage securities, putting ... Most of the bond insurance industry, including Ambac and its larger competitor MBIA Inc. , stumbled after expanding beyond ...
  2008-03-07 10:21:00

• Bernanke Call for Mortgage Forgiveness Puts Pressure on Paulson

  Bloomberg - With his remarks, the Fed chief joined the heads of the Office of Thrift Supervision and Federal Deposit Insurance Corp. and ... Paulson's increasing isolation may spur him to demand faster results from the Hope Now alliance of mortgage lenders he ...
  2008-03-05 05:15:00

• Allianz Loses as Dresdner Ignores Pimco on Subprime (Update2)

  Bloomberg - While Allianz's insurance units sidestepped the subprime trap, the Dresdner Bank subsidiary reported about 1.7 billion euros ... The fund had 46 percent of its assets in mortgage bonds and 19 percent in investment-grade corporate debt as of January ...
  2008-03-07 09:23:00

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