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Mortgage News for Tuesday - January 13, 2004

More Mortgage News
• Fannie Mae Cracks Down on Inflated Mortgage Appraisals
• California sues mortgage company
• IFC finances Russia's mortgage sector
• Bank pledges billions in mortgage money
• Ocwen Creates Bundled Services Product To Mortgage Originators
• Who wants to win their Mortgage payment? "Trading Spaces: Home Free"
• US SWAPS-Spreads narrower, but mortgage hedging not big
• MBSB positive on new mortgage loan
• Mortgage company fills void
• IL&P expects strong mortgage business in 2004
• Consumer Direct of America Buys Atlanta-Based Mortgage Bank, Mail Center and Debt Consolidation Operations
• Area's home sales hit record level during past year
• Man donates mortgage commission to school programs
• UNM Staff To Recieve Help Purchasing Homes
• Economists Forecasts Drop in Home Sales for 2004
• US Treasuries edge higher on outlook for low rates
• Mortgage options ease burdens 'Reverse mortgages' still new enough for misunderstandings
• Realties merging, expanding in valley
• End of refinance boom won't hinder consumers--study
• Used-Homes Sales Break Record in Houston Area; December Sales Up 17 Percent
• Savers might face bonus cuts
• Banks face challenges, says Fitch
• Mortgage broker files for Chapter 11 bankruptcy
• Home Prices Up But Stabilizing
Mortgage News
IFC finances Russia's mortgage sector - 2004-01-13
The fledgling Russian mortgage sector has recieved a much-awaited boost having received two huge loans from the International Finance Corporation (IFC), the private-sector financing branch of the World Bank Group, in a span of four days.

On June 19, it granted an $80 million, ten-year loan to Raiffeisenbank Austria of Russia and followed it up with another $66 million more on June 23 to Delta Credit, to run their residential mortgage loans in the country.
Read the full story at Russia Journal
 
Bank pledges billions in mortgage money - 2004-01-13
Bank of America Corp. committed amounts up to $6 billion in affordable mortgages to low to moderate-income neighborhoods on Monday, as its acquisition of area Fleet banks continues forward.

Also Monday, shareholders for FleetBoston Financial and Bank of America called special meetings for Wednesday, March 17 to approve the merger.
Read the full story at The Express Times
 






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