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Mortgage News for Wednesday - March 31, 2004

More Mortgage News
• Many older Americans losing homes after struggling to pay taxes
• Fannie, Freddie Had Adequate Capital
• Westbrook Technologies' Solution Helps Mortgage Lender Boost Potential Revenue Earnings
• Finance: Do-It-Yourself Credit Counseling
• Midwest Hiring Slowdown Dims Job Hopes
• ANZ establishes mortgage franchises
• BofA to take over Fleet Thursday
• US Mortgage Applications Drop, Rates Rise
• Gatineau housing remains a bargain market
• States offer home financing for those in need
• For many in middle class, home isn't where the job is
• Construction rebuilds its economic respect
• HOUSING: First-time buyers to be frozen out?
• Consumers not concerned about poor job market
• Integrated Mortgage Announces Purchase of Building, Plans to Relocate Headquarters
• Allied Home Mortgage Capital Corporation Opens New Branch Office in Sayreville, NJ
• Missed Opportunity on Mortgage Reform
• Early Detection Of Mortgage Fraud
• Mortgage brokers may need annual accreditation
• Brown: Deciding on early mortgage pay-off can be tricky
• Long and short of mortgages
• Getting the most from your home
• First Franklin Releases Streamlined RapidRefi Program
• Countrywide Financial Corp. Intends to Be Number One
Mortgage News
First Franklin Releases Streamlined RapidRefi Program - 2004-03-31
With the goal of simplifying the refinance process for borrowers with adjustable-rate mortgages (ARMs) and for mortgage brokers looking to manage the anticipated increase in refinance business, national mortgage lender First Franklin Financial Corporation today launched its new and enhanced RapidRefiŽ program.

There was a surge of ARM production originated over the past three years that will be adjusting within the next couple of years.
Read the full story at Market Wire (press release)
 
Countrywide Financial Corp. Intends to Be Number One - 2004-03-31
Countrywide Financial Corp. unveiled an ambitious five year plan Tuesday that projects $7.5 billion in pre-tax earnings and more than double the number of employees as now.

Seize 30 percent of the mortgage-origination business, up from the current 11.6 percent. That would take it from the No. 3 originator to the top spot, supplanting Wells Fargo & Co.
Read the full story at Miami Herald
 






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