New National Code Of Mortgage Company Servicing Prohibitions Laid Out In Federal Settlement - 2003-11-24
The federal government has just laid out a new national code of behavior for the country's mortgage servicing industry. The code is part of two federal agencies' massive $40 million-plus settlement with Fairbanks Capital Corp., the largest U.S. servicer of subprime, or credit-impaired, home loans.

Fairbanks signed the settlement without admitting wrongdoing on any charges. Its founder and former CEO, Thomas Basmajian, agreed to pay $400,000 and still faces possible criminal charges.
Read the full story at Realty Times

Property prices continue to go up - 2003-11-24
UK house prices have increased for the consecutive third month, latest Hometrack survey reveals, despite fears of a possible house market crash.

Property prices increased with 0.4% in November, Hometrack says, with no single area in the UK reporting any falls in prices.

Competitive mortgage rates with many special deals for first-time buyers, high employment and income levels and an acute short supply of housing in the UK all points to continuing rises in house prices next year," he says.
Read the full story at IFAonline.co.uk