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Mortgage News for Tuesday - July 20, 2004

More Mortgage News
• US housing starts tumble to lowest for a year
• Home prices set new record in state
• Attorney Accused Of Mortgage Fraud
• United Bank reports modest rise in profits
• Wells Fargo Q2 net profits up over year ago
• Buying own home just a 'pipe dream'
• AccessBanc: New 5 Year Fix-Pay Adjustable Rate Mortgages
• Demand from first-time home buyers and empty-nesters fuels the condo market
• First Horizon reorganizes
• RBC Mortgage and Victoria Homes Sign Interest Rate Lock Agreement
• Abandoned Homes Give Neighborhoods A Run-Down Look
• June 'big month' for county home sales
• Wachovia to buy SouthTrust for $14.3B
• Cendant near sale of mortgage unit
Mortgage News
Attorney Accused Of Mortgage Fraud - 2004-07-20
South Florida attorney is accused of cheating mortgage lenders of over $650,000.

Attorney General Charlie Crist today announced the arrest of Kesha Holmes, 34, of Miramar. Holmes, a licensed attorney, is accused of using false documents for three home loans.

Crist said, "Individuals who steal from mortgage lenders make mortgage rates higher for all Floridians."
Read the full story at WPLG Click10.com via Yahoo! News
 
United Bank reports modest rise in profits - 2004-07-20
United Bankshares, which acquired Bethesda-based Sequoia Bank last year, reports net income of $24.2 million for its latest quarter, 6 percent higher from the same quarter a year ago.

Earlier this month, United Bankshares also completed the sale of its mortgage banking subsidiary George Mason Mortgage to McLean-based Cardinal Financial for $17 million.
Read the full story at Washington Business Journal
 






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