Archive for March, 2009

Dan Gilbert discusses the teams he owns, Quicken Loans and a guy named LeBron (The Cleveland Plain Dealer)

Tuesday, March 31st, 2009

In a recent casual conversation, the 47-year-old entrepreneur revealed how his mortgage giant has weathered the housing crisis, why he’s such a huge fan of Cavs coach Mike Brown, and why he doesn’t lose sleep over the possibility of losing LeBron James to free agency.

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Couple arrested in $47 million mortgage-fraud case (Issaquah Press)

Tuesday, March 31st, 2009

Federal authorities arrested an Issaquah real estate agent and his wife last week in a bank, wire and mail fraud scheme that investigators said defrauded banks and mortgage lenders of more than $47 million. Authorities arrested five others March 26, following a wide-ranging investigation into the largest mortgage-fraud case in state history. Issaquah real estate agent David [...]

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Six people indicted in mortgage fraud scheme (Renton Reporter)

Tuesday, March 31st, 2009

Six people, including two from Renton, have been arrested following a grand jury indictment for a mortgage fraud scheme involving three Bellevue companies that allegedly defrauded more than a dozen banks and mortgage lenders of more than $47 million, according to as press release from the U.S. Department of Justice.

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134K Mortgages Modified In Feb. (Banker & Tradesman)

Monday, March 30th, 2009

Mortgage lenders modified 134,000 mortgages nationwide in February, up 9 percent compared to the previous month, according to national homeowner advocacy group Hope Now.

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First-time buyer scheme expanded (BBC News)

Monday, March 30th, 2009

A Scottish Government pilot scheme to help first-time buyers get on the property ladder is being rolled out to the whole of Scotland.

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Loan scheme case continues for Oklahoma couple (The Oklahoman)

Monday, March 30th, 2009

DENVER — An appeals court Monday overturned one of two convictions of an Edmond woman in a subprime mortgage fraud scheme involving numerous houses in Edmond’s Oak Tree neighborhood.The 10th U.S. Court of Appeals ruled 3-0 there was insufficient evidence to convict Gayle Caldwell of “laundering” $4,500 to conceal that it came from fraud, but the judges upheld her conviction for fraud.The …

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Lenders handle new boom in mortgage refinancings (BizJournals)

Monday, March 30th, 2009

Mortgage lenders say calls and applications are up substantially as rates have fallen to near-record lows.

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Crisis spawns loan defaults in once boomtown Dubai (AFP via Yahoo! News)

Sunday, March 29th, 2009

The unthinkable is happening in once-booming Dubai where credit not many months ago was as easy as the lifestyle — the world financial crisis is spawning a rising number of loan defaulters.

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Analysis: (The Herald)

Sunday, March 29th, 2009

As the UK and Scottish governments ponder the first state rescue of a building society holed by a risky commercial property loan book, they may also want to examine why Dunfermline Solutions was set up as a subsidiary of the society to “provide software solutions and back-office services to deposit takers and mortgage lenders”.

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House prices fall at record rate  (Reuters via Yahoo! UK & Ireland News)

Sunday, March 29th, 2009

House prices in England and Wales are a record 10.3 percent lower than a year ago, even though the prices fell at their slowest pace for 10 months in March, property data company Hometrack said on Monday.

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