Banks crack down on mortgage fraud (FT.com via Yahoo! News) Banks are seeking to crack down on mortgage fraud as evidence mounts of a rise in the number of fraudulent borrowers. Abbey and Lloyds TSB are among the banks
Westwood residents to move to new facility An employee with Nikkel and Associates electrical contractor, Ames, Iowa, cuts some more electrical conduit to complete a job at the new Westwood Nursing and Rehabilitation Center, 4201 Field Crest
D.C. Battling Boom in Illegal Work on Homes The District's skyrocketing real estate prices have fueled an increase in illegal construction as property owners across the city are building and renovating homes without obtaining the required permits, ...via
It's Time to Prepare for Heading Back Home It is that time of the year. Our seasonal resident friends and neighbors will soon be heading north and are thinking about what they need to do to close up
Wall Street Bond Firms Say Bernanke Will Be an Inflation Hawk at the Fed Wall Street's biggest bond-trading firms say Ben Bernanke will be as zealous in fighting inflation as Alan Greenspan when he takes over as chairman of the Federal Reserve on Feb.read
Report: Existing home sales may fall to five-year low this year Existing home sales probably will fall 11 percent this year to a five-year low, worse than previously forecast, and new-home sales will tumble to the lowest in a decade,
In yet another sign of its growing inability to raise capital, Kansas City-based subprime mortgage lender NovaStar Financial said today that it would not declare a previously announced dividend.
As a result, the company will lose its status as a real estate investment trust, retroactive to Jan. 1, 2006, NovaStar said. The company said that it expected the 2006 tax consequences of its loss of REIT status to be offset by its estimated tax loss for 2007.
The termination of its REIT status will, however, have ‘a significant adverse impact’ on NovaStar’s financial statements for the third quarter of 2007, NovaStar added. The company said it was still in the process of determining its tax liability for the quarter. Read more
read more…
This entry was posted
on Monday, September 17th, 2007 at 12:22 am and is filed under Mortgages.
You can follow any responses to this entry through the comments RSS 2.0 feed.
You can leave a response, or trackback from your own site.
Leave a Reply