Thornburg Mortgage raises $1.35 billion to placate lenders (BizJournals)
Thornburg Mortgage has raised enough cash to placate a group of lenders who would otherwise have shortly begun demanding liquidation of the company’s assets. (TMA)
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Newport Coast man pleads guilty to mortgage fraud (Orange County Register) A Newport Coast man pleaded guilty Monday to fraudulently obtaining mortgage loans that went into default and caused more than $2.7 million in losses to the federal government and commercial
Dip in US home sales sparks debate on 'bubble' The sizzling US property market cooled a bit last month with a 2.6 percent drop in July existing home sales, industry figures showed, sparking renewed rebate over the so-called housing
Ambac takes $1.66B mortgage hit (CNN Money) Bond insurer swings to first-quarter loss of $11.69 per share versus $2.02 a year ago, blames mortgage-backed bonds.read more...
Colorado restricts mortgage prepayment penalties (Denver Business Journal) Division of Real Estate Director Erin Toll has issued an emergency rule restricting prepayment penalties on mortgage loans, Gov. Bill Ritter's office announced Monday.read more...
Mortgage insurance premiums become deductible this year (The Advocate) New legislation was passed last year that allowed taxpayers who itemize their deductions to deduct premiums paid for mortgage insurance. Before this, only the interest you were paying on your
US says 5 take pleas in Vegas mortgage fraud case (AP via Yahoo! Finance) The top federal prosecutor in Nevada said recent pleas by five people are helping the government unravel a large and complex mortgage fraud scheme in southern Nevada.read more...