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Mortgage News for Wednesday - January 7, 2004

More Mortgage News
• U.S. home loan applications climb upward
• More credit pain coming?
• Job growth key to home sales
• Proposed Rules on Mortgages Attract Criticism
• N.Y. Firm Hires Ex-Treasury Officer
• US CREDIT-Monitoring interest-rate volatility
• 2003 bankruptcies expected to break record
• Endowment pain for homebuyers
• Gig Harbor site of homebuying class at end of month
• Judge says no to release request for former mortgage company owner
• Cape housing market healthy
• First Federal of the South Announces Purchase of Walton Mortgage
• Deal with debt in the new year
• Housing prices may start to drop in 2004
• North Dakota Parole board turns down parole for Milwaukee Man
• NextRE simplifies transactions for new home buyers
• Daniel G. Merkel Promoted to Regional President of Commercial Banking For Ohio at Republic Bank
• Business Bank of Nevada Hires Longtime Commercial Real Estate Lender to Handle Increased and Expanded Lending Activity
• Former attorney pleads guilty in real estate fraud
• Developers finding patience key in rejuvenate old properties
• N.Va. home sales robust before winter slide
• Broker charged with embezzlement
Mortgage News
N.Va. home sales robust before winter slide - 2004-01-07
Even though the market was going toward its traditional winter slump, statewide home sales rose 4.8 percent in November, with the average sales price showing double-digit increases compared to a year before.

For the first 11 months of the year, home sales were up 9.8 percent statewide, to 112,019.
Low mortgage rates, along with a better job market and a growing number of households, are the reasons behind this year's record housing activity.
Read the full story at The New Journal Online
 
Broker charged with embezzlement - 2004-01-07
A Pawleys Island man was arrested New Year’s Day and charged with embezzling more than $250,000 from the mortgage brokerage firm, in which he was a partner.

Mike Cantrell, 39, of Colonial Court, was charged Jan. 1 with breach of trust with fraudulent intent, following a three-week investigation by the Georgetown County Sheriff’s Department.
He remained in jail Tuesday under a $250,000 bond.
Read the full story at Georgetown Times
 






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