Nat City Mortgage Losses to Rise (AP via Yahoo! Finance)
Regional bank National City Corp. said Monday after-tax losses for its mortgage banking division are likely to be close to $160 million in the third quarter.
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IndyMac scraps IPO plan for reverse-mortgage unit (Market Watch) NEW YORK (MarketWatch) -- IndyMac Bancorp on Wednesday said it'll pay $40 million to the chief executive of its reverse-mortgage unit, Financial Freedom, as it ruled out an initial public
Northrop Grumman Says Katrina Damaged Ship Unit Defense contractor... Defense contractor Northrop Grumman Corp. on Thursday said Hurricane Katrina, which significantly damaged some of its ship-building operations in the U.S. Gulf region, will hurt full-year earnings.read more...
Not for sale in housing bubble NOBODY likes losing money but a punter will always prefer being fleeced by a bookmaker than a real estate agent.read more...
Rector heads to jail for role in largest area mortgage fraud case (BizJournals) Leslie Rector, co-leader of a $112 million mortgage fraud scheme in metro Atlanta, has been sent to prison for seven years.read more...
An inspirational makeover It's a combination of faith, good neighbors and cans of paint. A mother's wish, a decorator's dream, a carpenter's skills and a pastor's vision.read more...
OPFM mortgage crisis hits home (Lancaster Online) The September collapse of a mortgage broker created financial distress in homes across Lancaster County, documents released this week reveal.The documents, filed in Berks County Court, show almost 300 homeowners