Co-op eliminates 'trust mortgages' - 2004-03-01
A bank has eliminated 'risky' mortgages which desperate house-buyers are utilizing to get huge loans by lying about their earnings. The move by the Co-op follows allegations of widespread fraud across the home loans industry.

The bank said that while it had no evidence that its clients were 'trying to pull the wool over its eyes,' it was concerned about family debt levels and the ability of people to pay massive mortgages.
Read the full story at This Is Money

MuniMae earnings higher for year, down for quarter - 2004-03-01
Municipal Mortgage & Equity LLC -- known as MuniMae -- posted sharply higher earnings for its fiscal year Monday, but fourth-quarter earnings decreased slightly.

Baltimore-based MuniMae reported net income allocated to common shareholders of $72.5 million, or $2.44 per diluted share, for 2003, up from $28.8 million, or $1.13 per diluted share, last year.
Read the full story at Baltimore Business Journal