Vittorio Hernandez – AHN News
New York, NY, United States (AHN) – The U.S. government filed a civil suit against Deutsche Bank for alleged mortgage fraud on Tuesday. Washington seeks $1 billion in damages against the German bank, which U.S. prosecutors accused of lying about the quality of its banking practices to secure access to the government’s mortgage insurance program. The bank’s subsidiary, MortgageIT, wrote more than 39,000 loans valued at over $5 billion in backing from the Federal Housing Administration from 1999 to 2009. In exchange for the government backing, MortgageIT was mandated to ensure that its lending practice are on par with Washington’s standards. Preet [...] Continue Reading…

Judging by the number of enquiries coming through for CeMAP training courses, whether for CeMAP 1 or the combined CeMAP 2 & 3 course, there are still many people interested in getting into the financial industry and particularly in becoming a mortgage advisor. In the long run, we have all seen that house prices rise and in the British way of life, we all want to own our own property.However, thanks to the credit crunch and the recession we find ourselves in it is perfectly natural that people are questioning whether taking CeMAP training right now is a good idea or not.House prices have fallen over the last [...] Continue Reading…

A 15 percent jump in refinance inquiries from last week was noted in the Mortgage Market Index . Refinance share rose to 47 percent from 45 percent. This week’s share reflected a 34 percent rate-term share and a 13 percent cashout share.
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Lofts predominate in TriBeCa, with co-op conversions from the late 1970s or early 1980s, and condos developed during a wave of conversions that began in the 1990s.
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Los Angeles, CA, United States (AHN) – The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed. It is illegal to resell or attempt to resell a recalled consumer product. Name of Product: Toy Story 3 Bowling Game Units: About 600 Importer: G.A. Gertmenian and Sons, LLC, of Los Angeles Hazard: The red paint used on some bowling pins has been measured to be in excess of the maximum allowable level of 90 ppm, a violation of the federal lead paint standard. [...] Continue Reading…

A mortgage repayment calculator is a wonderful tool that will allow you as a home owner or prospective home owner to make sound financial decisions regarding your home mortgage. With a mortgage repayment calculator you can be assured that you have all of the details you will need heading into your loan negotiations and you can also rest assured that you have all of the facts that you need if you are seeking to refinance your mortgage. You could also get all of your information together if you are interested in paying off your mortgage early and trying to decide how much extra money you should put towards your [...] Continue Reading…

The Mortgage Bankers Association reported that total commercial real estate originations fell 25 percent between the fourth-quarter 2010 and the first quarter of this year. The quarter-over-quarter decline in commercial mortgage production was led by conduit volume — which was down 58 percent. Also hurting performance was agency business; [...] Continue Reading…

Bank of America Corp. has notified New York officials that it will lay off 34 employees in the state. The move is being made amid declining loan production. BofA previously announced that it planned to eliminate more than 1,500 home loan positions around the country.
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Freddie Mac reported that net income was $676 million for the three months ended March 31. The company swung from a $113 million loss in the fourth-quarter 2010. Performance has improved dramatically compared to the $6.7 billion loss in the first-quarter of last year.
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Deutsche Bank AG and subsidiary MortgageIT “repeatedly lied” on Federal Housing Administration originations, according to a civil lawsuit filed by the U.S. Department of Justice. MortgageIT “recklessly selected mortgages that violated program rules in blatant disregard of whether borrowers could make mortgage payments,” the suit alleges. Deutsche Bank said [...] Continue Reading…