Mortgage and Financial News From 2007-11-7 Page 4

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• Ominous letters are baloney: treasurer

  Chicago Sun-Times - A new Cook County fee requires mortgage firms to pay $5 in order to pay your property taxes electronically. But instead of paying that $5, mortgage companies are sending letters to thousands of homeowners indicating the firms "may" not be able to pay ...
  2007-11-07 01:53:00

• Cook County Property Owners Confused About Mortgage Company Messages

  NBC5 - CHICAGO -- The Cook County treasurer said Wednesday that property owners shouldn't be worried if they recently got a confusing message in the mail from their mortgage company. Some mortage companies are demanding property owners send in the original ...
  2007-11-07 10:07:00

• Dow tumbles on new sub-prime fears

  The Independent - US stocks tumbled 2.6 per cent last night as an investigation of the home loan industry by New York's attorney general drew in the country's biggest mortgage finance companies, and the savings and loan company Washington Mutual warned the housing ...
  2007-11-07 04:40:00

• Wall Street sinks as credit fears rise

  Reuters - NEW YORK (Reuters) - Stocks tumbled on Wednesday as a probe of the home loan industry by New York's attorney general drew in the country's biggest mortgage finance companies and Washington Mutual Inc warned the housing downturn would extend well into ...
  2007-11-07 03:57:00

• NY state probe of mortgage conflicts hits Fannie Mae, Freddie Mac

  CNBC - ... than a week after the attorney general filed suit against a major real estate appraisal company, accusing it of colluding with the nation's largest savings and loan companies to inflate the values of homes, thus contributing to the subprime mortgage ...
  2007-11-07 02:39:00

• FTC crackdown on companies calling people on Do Not Call list

  San Diego Union-Tribune - The four other companies were: Ameriquest Mortgage Company, Alarm King, Direct Security Services and Guardian Communications. “By bringing enforcement actions, like those announced today, we will ensure that the small number of bad actors pay a ...
  2007-11-07 01:48:00

• Web ad spending expected to double by 2011

  ZDNet - However, reduced spending will be tempered by advertisers buying the low-cost display advertising gobbled up by mortgage companies' shrinking marketing budgets." Total spending this year is expected to rise by about 2.1 percent, eMarketer said, while ...
  2007-11-07 03:22:00

• A Sinking Feeling Over The Dollar

  Washington Post - Shares of mortgage companies Fannie Mae and Freddie Mac also fell yesterday after New York Attorney General Andrew Cuomo subpoenaed the federally chartered mortgage-funding companies in an investigation of mortgage fraud. Shares of mortgage issuer ...
  2007-11-07 06:49:00

• Cuomo Probe Whacks WaMu

  Street.Com - The probe and Fannie's comments raise the prospect that WaMu could face problems selling mortgages to the government-sponsored mortgage companies. Any decline in sales to Fannie and Freddie could seriously damage WaMu's business, given that other ...
  2007-11-07 02:39:00

• Morgan Stanley: $3.7B subprime mortgage writedown

  CNN Money - Latest Rates Active Companies Stock Price Increases Stock Price Decreases Earnings: Reports & Estimates Hot Stocks Stock Spotlight ... this week on speculation it might announce this write-off, said it could lose up to $6 billion if all subprime mortgage ...
  2007-11-07 03:36:00

• Pappas Says Mortgage Companies Try to Frighten Homeowners into Sending ...

  Forbes - CHICAGO, Nov. 7 /PRNewswire-USNewswire/ -- Mortgage companies must pay property taxes out of escrow accounts on time whether or not they have the original bill, Cook County Treasurer Maria Pappas said today. Pappas said some mortgage companies are ...
  2007-11-07 04:01:00

• Probe Widens on Inflated Home Appraisals

  Wall Street Journal - A widening investigation of inflated home appraisals and a gloomy forecast by Washington Mutual Inc. knocked shares of mortgage companies lower. Freddie Mac and Fannie Mae , prodded by New York State Attorney General Andrew Cuomo, agreed to appoint ...
  2007-11-07 07:11:00

• Wall Street plunges on heightened credit fears (Reuters via Yahoo! News)

  Stocks tumbled on Wednesday and the Nasdaq posted its biggest drop since February as a probe of the home loan industry by New York's attorney general drew in the country's biggest mortgage finance companies and Washington Mutual Inc warned the housing downturn would extend well into next year.
  2007-11-07 02:43:35

• Wall Street sinks as credit fears rise (Reuters via Yahoo! News)

  Stocks tumbled on Wednesday as a probe of the home loan industry by New York's attorney general drew in the country's biggest mortgage finance companies and Washington Mutual Inc warned the housing downturn would extend well into next year.
  2007-11-07 04:02:18

• Mortgage players speed-date to lift subprime gloom (Reuters via Yahoo! News)

  It's not just for lonely hearts anymore. Speed-dating -- a way for busy singles to meet -- was on the event list at a distinctly unromantic venue, the Information Management Network's ABS East conference, in a bid to bring together investors and issuers still reeling from this year's U.S. subprime mortgage meltdown.
  2007-11-07 09:01:38

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