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Mortgage News for Tuesday - March 15, 2005

More Mortgage News
• US Representatives Introduce Anti-Predatory Mortgage Lending Bill
• Pinnacle Financial to buy branches, operations center from Irwin Mortgage
• Mortgage company agrees to pay back wages
• Reverse mortgage proves expensive
• U.S. mortgage rates unchanged Monday - BestInfo
• Ameriquest at tentative settlement in mortgage fraud suit
• Borrowers Unclear About Credit Scores
• Greenspan: Budget Gaps Threaten U.S. Economy
• Greenspan-Fix Social Security to protect U.S. economy
• Fed must raise U.S. interest rates, says Yellen
Mortgage News
Borrowers Unclear About Credit Scores - 2005-03-15
Credit scores have become the most widely used guage of consumer-lending risk. Most service companies, from utilities providers and insurance underwriters to landlords and mortgage lenders, use the magic number to asses the chance that a consumer may default on a loan, and decide whether to offer their services and at what cost.
Read the full story at Smartmoney.com
 
Greenspan: Budget Gaps Threaten U.S. Economy - 2005-03-15
U.S. budget deficits are a potential threat to the U.S. economy, Federal Reserve Chairman Alan Greenspan warned on Tuesday, and Social Security benefit cuts will almost certainly be needed to cope with a rising tide of retirees.

``Failure to address the imbalances between our promises to future retirees and our ability to meet those promises would have grave consequences for the economy,'' the Fed chief said in testimony for delivery to the Senate Special Committee on Aging.
Read the full story at MSN Money
 






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