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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
Consumer Direct of America Buys Atlanta-Based Mortgage Bank, Mail Center and Debt Consolidation Operations - 2004-01-13
Consumer Direct of America , a leading consolidator in the mortgage brokerage industry, declared today that it has reached an agreement with Consulting Services LLC of Atlanta to acquire the operating assets of the company including its mortgage banking operations and direct mail center.

The agreement gives Consumer Direct of America a fully functional mortgage banking operation and approximately 120 loans per month in debt consolidation loan business.
Read the full story at Business Wire
 
Area's home sales hit record level during past year - 2004-01-13
Buyers boosted the volume of Baltimore-area home sales to a record level last year as historically low interest rates fueled demand despite double-digit price increases.

Sales and prices have climbed consistently, providing more equity to many homeowners while raising real estate tax assessments. Record numbers of refinancings have helped consumers lower their monthly mortgage costs or allowed them to tap into their home's equity and offset the sting of stock market losses.
Read the full story at Baltimore Sun
 






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