Wells Fargo launches 10-year adjustable-rate mortgage loan - 2005-01-27
A new home loan product from Wells Fargo Home Mortgage could help home buyers looking to bump up their short-term cash flow or who intend to move or refinance within a few years.

The company is initiating an interest-only feature that doesn't require principal payment for a period of 10 years. Wells Fargo Home Mortgage's interest-only product was previously available only on 5- and 7-year adjustable-rate mortgages, or ARMs for short.
Read the full story at Inman.com

Mortgage Brokerage Company Owner Pleads Guilty in Flipping Scheme - 2005-01-27
Pantelis I. “Pete” Karsos, 45, of Towson, Maryland, has pleaded guilty to mail fraud in connection with an illegal mortgage scheme, declared Allen F. Loucks, United States Attorney for the District of
Maryland.

Karsos is the owner of Nations Mortgage in Towson and admitted to finding loans for investors in a mortgage fraud scheme involving “flipped” properties in Baltimore City. Sentencing is set for March 25, 2005.
Read the full story at RisMedia.com