Mortgage and Financial News From 2007-8-20 Page 17

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• Jury finds McFadden-Weaver guilty

  Birmingham Business Journal - A federal jury in Kansas City convicted former Kansas City Councilwoman Saundra McFadden-Weaver on Thursday of conspiracy and wire fraud for her role in a $400,000 mortgage fraud scheme. The jury found McFadden-Weaver, 47, of Kansas City, guilty of ...
  2007-08-17 12:53:00

• One house, three quick sales, one familiar link

  St. Petersburg Times - As the boom quiets, mortgage fraud is becoming more obvious. "In a slowing market, it starts to show itself, " says Mark Scott, spokesman for HomeBanc Mortgage Corp., one of the South's biggest lenders. "All of a sudden you've got this scam that's ...
  2007-08-18 07:18:00

• Liars’ Loans

  BBC Brasil - If the underlying cause of the global financial crisis is fraud and greed in the US home loans system – from mortgage broker to investment bank – the trigger of the crisis was chronic folly by big international lending banks, notably some in ...
  2007-08-20 06:54:00

• Fraud charges may add to firms' subprime woes

  Reuters UK - WASHINGTON (Reuters) - The next messy chapter of the subprime lending saga could include fraud charges for investment banks ... Many subprime mortgages are packaged into mortgage-backed securities and collateralized debt obligations, bundles of ...
  2007-08-20 07:01:00

• UPDATE: Fed Urged To Protect Future Mortgage Borrowers

  Beurs.nl - Fed Urged To Protect Future Mortgage Borrowers Maandag 20 Augustus 2007 01:50 By Robert Schroeder WASHINGTON (Dow Jones ... Other practices that may be addressed include use of escrow accounts for taxes and insurance. (END) Dow Jones Newswires August ...
  2007-08-19 11:45:00

• China Airlines Boeing Plane Catches Fire in Japan (Update4)

  Bloomberg - Taiwan Fire & Marine Insurance Co. will fly assessors to Japan soon to estimate the losses, the insurer's vice president C.H. Chang said by phone today. The company has insured the airline for more than 10 years. Shares of China Airlines ...
  2007-08-20 05:43:00

• Sub-prime fear now haunts BPOs

  Rediff.com - The concern is warranted since pure-play BPO firms (excluding infotech companies that also provide BPO services) derive anywhere between 40 and 70 per cent of their revenues from the banking, financial services and insurance segment. Mortgage process ...
  2007-08-20 01:04:00

• Radian draws on credit, faces lawsuits

  Leading the Charge - Sam Rudman, an attorney representing shareholders in one of the lawsuits against Radian, said his firm is also looking into suing MGIC Investment Corp., the Milwaukee-based parent of the Mortgage Guaranty Insurance Corporation. Radian and MGIC have ...
  2007-08-20 03:12:00

• Ambac, MBIA Lead Insurance Stocks on Fed's Surprise (Update1)

  Bloomberg - They led the Standard & Poor's Insurance Index up 3.5 percent. ``The Fed is watching what's happening and might make further rate cuts, which will help consumers service their mortgage debt,'' said Rob Haines, an analyst at CreditSights Inc ...
  2007-08-17 12:53:00

• QBE profit surges 56pc

  News.com.au - QBE Insurance Group has posted a 56 per cent lift in first-half earnings and says it has plenty of funds to cover any ... QBE also said its investment portfolio has no direct exposure to the US sub-prime mortgage, collateralised debt or loan ...
  2007-08-20 04:38:00

• Mortgages for illegal immigrants

  Worldnews.com - NC BoA Mortgage pgm Insurance Newsnet Contact : Terry Francisco of Bank of America , +1-980-386-4343, or +1-704-516-0231 (mobile), Terry.H.Francisco@bankofamerica.com CHARLOTTE , Aug. 8 /PRNewswire/ -- Bank of America today announced a mortgage ... ...
  2007-08-19 11:31:00

• UAE: Insurance sector growth at double the GDP rate

  Zawya.com - According to Mahmoud Nadjoumi, Chief Executive Officer, Nexus Insurance Brokers, there is great demand for life insurance and mortgage protection products. "These areas are totally untapped and we see huge growth potential here. We expect the ...
  2007-08-20 04:24:00

• OUTLOOK UK Q2 GDP, mortgage data to provide main highlights to quiet week ahead (Sharewatch)

  LONDON (Thomson Financial) - The main highlight to a quiet week ahead in the UK will be the latest estimate for growth in the second quarter, which is expected to be left unrevised, with attention to focus on whether spending has been dampened.
  2007-08-20 05:10:58

• TFN NEWS BRIEFING: Banking and insurance highlights to 15:45 BST (Sharewatch)

  2007-08-19 12:18:53 China pension fund to continue investing overseas despite market turmoil -Xinhua BEIJING (XFN-ASIA) - China's National Social Security Fund will continue investing in overseas markets despite the global market turmoil arising from US subprime mortgage sector troubles, the official Xinhua news agency reported, citing the fund's chairman Xiang Huaicheng. 2007-08-19 09:48:25 ...
  2007-08-19 02:55:28

• As insurance prices climb, new homebuyers shy away (Bayou Business Review)

  HOUMA -- Pointing to a swath of changes in the insurance market and building costs since the 2005 hurricanes, builders, realtors and insurance agents say potential homebuyers are carrying a heavier-than-normal burden on their monthly insurance bills, causing some to back away from buying new homes.
  2007-08-19 01:10:50

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