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Mortgage News for Wednesday - February 11, 2004

More Mortgage News
• Index says mortgage demand lower
• The options: invest cash or pay off mortgage
• OFHEO engages firm to review Fannie Mae's accounting
• Greenspan: Give GSE watchdog power over capital
• First American quarterly profit up
• US mortgage bonds in holding pattern before Greenspan testimony
• Buy-to-let market continues to expand
• Self-cert mortgages could skew market
• Commonwealth Bank doubles first-half profit
• Give your mortgage a spring cleaning
• Bankruptcy of Spokane Mortgage Financial Firm to Affect Area Investors
• GM appoints new president for its profitable finance arm
• Big Four banks are shark bait
• City Pacific predict record profit
• Portsmouth, Va.-Based TowneBank's Merger with Harbor Bank Gets Okay
• Home Sales Still Healthy Without Setting Record
• Housing agency union asks GMA to drop EO
• Index-linked mortgage rate continues to drop
• SEC could investigate Metropolitan
• U.S. mortgage rates same Wednesday
• After a record-breaking 2003, home builders expect a prosperous 2004
• Mortgage Player MuniMae ready for '04 growth spurt
• Fannie Mae promotes prefab home ownership
• Carrie A. Judge Appointed Vice President, Mortgage Loan Officer At Republic Bank in Traverse City, Michigan
Mortgage News
OFHEO engages firm to review Fannie Mae's accounting - 2004-02-11
Fannie Mae's financial regulator indicated on Wednesday it had hired Deloitte & Touche LLP to do a review of accounting at the mortgage finance giant in the wake of the scandal that shook Freddie Mac last year.

The Office of Federal Housing Enterprise Oversight's director Armando Falcon said last July such a move for Fannie Mae was "prudent" although he had no specific worries about Fannie Mae's accounting.
Read the full story at Reuters
 
Greenspan: Give GSE watchdog power over capital - 2004-02-11
Federal Reserve Board Chairman Alan Greenspan on Wednesday appealed to Congress to give any new regulator for government-sponsored mortgage finance enterprises the ability to modify capital levels to ensure financial soundness.

Congress is considering creating a new regulatory body for housing finance enterprises, which include the nation's top sources of mortgage finance, Fannie Mae and Freddie Mac.
Read the full story at Reuters
 






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