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Mortgage News for Monday - September 15, 2003

More Mortgage News
• House price index at odds with lenders
• House price reports don't add up
• Struggling family acquires home with help of nonprofit group
• Housing prices higher, but financing down: BMO
• Banks eager to promote home equity lines of credit
• Mortgage rates a quarter percent lower
• UK house prices increase 14% in year
• Wells Fargo Home Mortgage will create 21 jobs downtown
• Pressure off on bank staffs as mortgage refi business cools
• Students dropped rent for mortgage
• A chastened Silipigno vows collapse of mortgage company will not be his life story
• Businesses follow residential borrowers into mortgage refi arena
• BUYERS CASH IN ON REAL ESTATE BOOM
• Habitat home completed
• Bank of Granite set to grow with Cornelius branch
• GE Mortgage Insurance removes home price limits
• Quebec homeowners get easier access to home equity borrowing through CIBC
• New index reveals house prices up 14%
• Middle class barely gets by
• The myth of a self-supporting recovery
Mortgage News
A chastened Silipigno vows collapse of mortgage company will not be his life story - 2003-09-15
The David Silipigno who on Dec. 8 will be before a federal judge and be sentenced for the crimes he committed while attempting to keep National Finance Corp. afloat, says he is not the same man he was when the mortgage lender sank almost four years ago.

He is a bit older, much wiser and far more humble. He also can hold his head up.
Read the full story at The Business Review Albany
 
Businesses follow residential borrowers into mortgage refi arena - 2003-09-15
This year's weather was difficult on Nunan Florist & Greenhouses Inc. The Georgetown business experienced a long stretch of bad weekend weather which hurt sales and, ultimately, the company's cash flow, said co-owner Steve Flynn.

Flynn's company took advantage of a financial strategy that has been used more frequently by homeowners: mortgage refinancing. With interest rates at record lows and business pressures at all-time highs, it's hard for business owners to ignore the potential savings.
Read the full story at Boston Business Journal
 






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