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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
Man donates mortgage commission to school programs - 2004-01-13
It was approximately a year ago, when the effects of school budget cuts were beginning to be felt, that Rick Alvarado started thinking about ways that he could help.

Alvarado plans to let customers of his mortgage business, Mortgage West, donate a portion of his commission to the school and program of their choice. Any type of loan — purchase, refinance or construction loan — will qualify.
Read the full story at Salem Statesman Journal
 
UNM Staff To Recieve Help Purchasing Homes - 2004-01-13
University of New Mexico Hospitals in Albuquerque will assist its employees become home buyers.
The hospital's employees will get help with closing costs and down payments through a recent collaboration between the hospitals, Charter Mortgage and the program called Fannie Mae to create an Employer Assisted Housing Program.

The initiative was devised as an employee benefit for registered nurses and radiology technologists.
Charter Mortgage will waive $700 in closing costs. Eligible employees would receive favorable mortgage terms through Fannie Mae.
Read the full story at The New Mexico Channel.com
 






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