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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
Mortgage options ease burdens 'Reverse mortgages' still new enough for misunderstandings - 2004-01-13
FOR MARALYN KILPATRICK, the financial pressure placed on her was almost unbearable. The 69-year-old had a $30,000 credit card debt and $106,000 left to be paid on her home. What they found was the reverse mortgage, and it changed their lives.

A reverse mortgage is a unique loan that enables senior homeowners to convert part of the equity in their homes into income without having to sell the home, give up the title or take on monthly mortgage payments.
Read the full story at Oakland Tribune
 
Realties merging, expanding in valley - 2004-01-13
Real estate companies continue to merge and grow in the Northern San Joaquin Valley. Lewis said that's beneficial for real estate agents -- and consumers -- because it creates economies of scale and marketing strength.

"It provides more and more resources to agents so they can do more for their clients," Lewis said. He said that includes access to one-stop services, such as mortgages and title insurance, and access to sophisticated Internet sites.
Read the full story at Modesto Bee
 






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