State sues appraiser over alleged mortgage scam - 2004-03-16
State prosecutors filed suit against an appraiser, claiming that he overvalued homes for a company accused of targeting poor homeowners for home-improvement loans worth more than the value of their homes.

Since the alleged scam was discovered in 2001, more than 250 homeowners have said they were defrauded and the state has stepped in to stop 58 mortgage foreclosures, according to the state Attorney General's Office.
Read the full story at phillyBurbs.com

Transnational Financial Network Declares Third Quarter Results - 2004-03-16
Transnational Financial Network, Inc., a wholesale and retail mortgage banking company, has posted its 6th consecutive quarterly profit with net income of $32,741 for the quarter ending January 31, 2004.

"We completed two forward delivery commitments which impacted the third quarter and which generated additional income of approximately $334,000."
Read the full story at Business Wire via Yahoo!