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Mortgage News for Friday - March 18, 2005

More Mortgage News
• U.S. mortgage rates climb causing higher mortgage refinance activity
• Residential Mortgage Foreclosure and Delinquent Payments Decline
• Minorities depend on subprime loans
• Three accused in mortgage fraud ring worth $3.3 million
• Mortgage broker sentenced to 9 years for stealing
• Mortgage giant Fannie delays 2004 filing, may add to losses
• Secrets to buying real estate for 'nothing down'
• U.S. Economy: Consumer Sentiment Declines, Import Prices Rise
• Economy braces for interest-rate turmoil
• Dollar Rises Against Euro as Higher Interest Rates Boost Demand
Mortgage News
Minorities depend on subprime loans - 2005-03-18
Women, minorities and lower-income borrowers rely on subprime lenders, firms that specialize in higher-cost loans to people with blemished credit records, for a disproportionate share of mortgages and refinance loans.

Subprime loans were more common among blacks in 98.5% of the metropolitan areas, while Hispanics were more apt to hold a subprime mortgage or refinance mortgage loan in nearly 89.1%
Read the full story at 9NEWS.com
 
Three accused in mortgage fraud ring worth $3.3 million - 2005-03-18
Three Jamaican nationals were being held Thursday in the Orange County Jail on $1 million bail each for being connected with a mortgage-fraud ring stretching from Orlando to South Florida.

Patricia C. Grant, 48, Edgar Grant, 70, and Geisha Morris, 22 -- all with various addresses -- were jailed Thursday morning on charges they falsified documents to obtain mortgage loans for properties in Broward, Palm Beach and Orange counties.
Read the full story at Sun-Sentinel.com
 






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