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Mortgage News for Tuesday - March 23, 2004

More Mortgage News
• Arizona Bank names new senior vice president
• MortgageIT files for IPO
• U.K. Treasury Says BOE Must Cap House-Price Growth
• Two lots in Clyde bought for Habitat
• SOCIETY ESTABLISHES NEW MORTGAGE RECORD
• Bank of England's Large Says Debt Gain a Risk to U.K.
• US mortgage bonds flat to firmer in light trade
• CLOSING COSTS: HUD puts brakes on mortgage plan
• Minister pins hopes on new mortgage system for army
• Weak US jobs scene boosts mortgage industry hiring
• Homebuilders Financial Network Begins 2004 With Major Expansion, Launches Mortgage Companies
• Pulaski Mortgage HQ Groundbreaking Ready for Thursday
• Is it smart to pay off home mortgage early?
• Fed chief endorses mortgage debt
• Dollar Bank Announces its Fifth Annual 'Mortgages for Mothers' Workshop
• Reverse mortgages provide hope
• ICBA Likes Decision to Withdraw Proposed RESPA Amendments
• Allied Dunbar fined over mortgage endowment complaint procedures
• Area man pleads guilty to mortgage fraud scheme
• A Russian reform hits home: mortgages
• PricelineMortgage Offers A Second Opportunity To Take Advantage Of Low Mortgage Rates
• A new life – or a debt magnet?
• UK household debt could rise to 1990s levels
• HSBC Bank moving legal headquarters to Delaware
• Residents slow to take advantage of mortgage rates
• Bankruptcies 15% higher
Mortgage News
UK household debt could rise to 1990s levels - 2004-03-23
The load of households' debt service will go back towards the levels seen at the start of the 1990s if interest rates climb in the way financial markets expect, a deputy governor of the Bank of England has warned.

Interest and mortgage payments rose to almost 16 per cent of household post-tax income in 1990, helping trigger the crash in house prices and the recession of the early 1990s.
Read the full story at Financial Times
 
HSBC Bank moving legal headquarters to Delaware - 2004-03-23
After more than 190 years in Buffalo, HSBC Bank USA plans to relocate its legal headquarters to Delaware as it looks to change to a national charter and become a nationwide banking power.

HSBC now employs 5,300 people in the Buffalo area, and Glynn said the bank already has been moving more collections, compliance, mortgage and computer jobs here.
Read the full story at TimesLeader.com
 






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