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Mortgage News for Tuesday - February 24, 2004

More Mortgage News
• Greenspan: Mortgage debt could be threat
• CEO of collasped mortgage co. pleads guilty
• Mortgage giant Fannie Mae says Greenspan fails to appreciate its role
• First-time house purchasing '33% less affordable'
• Bank provides Islamic mortgage
• Disappointing consumer confidence report push stocks down
• Greenspan says Adjustable Rate Mortgages might be better option
• Don't ignore tax breaks for mortgage points
• Raleigh, N.C.-Area Professionals See Many Learn Difficult Lessons during Tax Season
• Twenty-somethings hurry to acquire homes
• CMHC allow buyers work for down payment
• Zero Down Payment Plan Could Make Initial Home Ownership 'Too Easy'
• Mortgage giants Fannie Mae, Freddie Mac Lower on Greenspan Speech
• FTC Testifies on its Actions to Fight Unfair and Deceptive Subprime Lending
• US Treasury Sec, Greenspan Draw Positive Picture of US Economy
• Bain supports probe of bank lending practices
• First-time home buyer numbers 'collapse'
• Two charged in federal mortgage scheme situation
• Acxiom Builds Alliance To Combat Financial Fraud
• Mortgages: J.P. Morgan merger criticized
• Analysts: Longer-term lending main challenge this year
• Higher mortgage rate despite higher equity
• Standard Life faces anger over executive pay
• Mortgage Firms are Shut Down
Mortgage News
US Treasury Sec, Greenspan Draw Positive Picture of US Economy - 2004-02-24
Treasury Secretary John Snow says the U.S. economy is on a healthy growth path, thanks to the tax cuts that were passed by Congress last year.

He said they are able to carry more short-term debt, in large part because they have been cushioned by rising home prices. The lowest interest rates in 40 years have prompted millions of Americans to refinance their 15- or 30-year home loans, something that has typically reduced monthly mortgage payments.
Read the full story at VOA
 
Bain supports probe of bank lending practices - 2004-02-24
Pat Bain, president of the National Congress of Trade Unions said Sunday that he totally supports a Parliamentary select committee's investigation into bank lending practices.

Last Wednesday, Government backbencher Elizabeth Estates Member of Parliament Malcolm Adderley called for a committee to examine banking and lending facilities in the country, and to investigate "gross injustices" perpetrated against mortgage holders.
Read the full story at Nassau Guardian
 






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