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Mortgage News for Friday - February 13, 2004

More Mortgage News
• US 30-year mortgage rate unchanged Friday
• High on mortgages, low on cameras
• Ex-councilman to serve 15 months for mortgage fraud
• Macon, Ga.-Based Bank to Establish Three Retail Mortgage Offices
• SEC Wants Investigation for Spokane, Wash.-Based Metropolitan Mortgage
• Right of rescission allows you to back out of a loan
• Greenspan to Congress: Future looks bright
• More gains forecasted in home prices
• Fiscal hit up north
• Hawaii mortgage rates drop to 5.25%
• Asian central banks assisting U.S. home buyers
• I COULD LOSE MY HOME, SAYS ANGRY ISABEL
• Home buyers get break as mortgage rates decrease
• TYSON FOODS INTRODUCES $50 MILLION HOMEOWNERSHIP INITIATIVE FOR TEAM MEMBERS WITH FREDDIE MAC
• Home mortgage loans drop again
• Countrywide Bank Enhances Presence in Philadelphia Area; Establishes Financial Center in Huntingdon Valley
• Fannie Mae Goes For Front-End Funding For Feb
• Two men charged in credit-report scam
• Fidelity D & D Bancorp, Inc. Posts 2003 Financial Results
• SouthFirst Bancshares, Inc. Declares Earnings for Three Months Ended December 31, 2003
• Sterling’s mortgage unit breaks $1 billion
• Real estate lending here grew substantially in ’03
• More than zoning needed to keep some lenders from ripping poor off
• Habitat for Humanity to celebrate first house constructed in Jo Daviess County
• Inevitability of Higher Mortgage Rates
• Free autoresponder system for mortgage brokers at mortgagefollowup.com
Mortgage News
Ex-councilman to serve 15 months for mortgage fraud - 2004-02-13
After a friend called him a good man who made a bad judgment call, former bank president Rob Herron was sentenced to 15 months in federal prison Thursday for his role in the mortgage fraud that helped bring down Rock Hill Bank & Trust.

A second conspirator in the scheme will serve more time. A third will serve less. Herron told a U.S. District Court judge in Columbia that he knows he hurt his family and former co-workers.
Read the full story at Miami Herald
 
Macon, Ga.-Based Bank to Establish Three Retail Mortgage Offices - 2004-02-13
Macon bank Rivoli Bank & Trust announced Wednesday it will set up three retail mortgage offices and plans to build a $1 million branch in north Macon.

The local bank, in business since 1997, could add as many as 15 employees as part of the expansion, bank president Pat McGoldrick said.

The mortgage lending offices would be called Rivoli Mortgage and function as a division of the bank, he said.
Read the full story at Miami Herald
 






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