Adjustable-rate mortgage apps hit high, refinance mortgage activity drops - 2005-03-30
Real estate finance markets saw a record high share of adjustable-rate mortgage activity this week, with overall purchase originations climbing.

The mortgage refinancing activity decreased to 37.8 percent of total applications from 39.5 percent the previous week. The adjustable-rate mortgage share of activity increased to 36.6 percent of total applications from 33.5 percent the previous week.
Read the full story at Inman.com

Colorado mortgage broker to pay restitution - 2005-03-30
Colorado home mortgage broker Phillip W. Ranney has been stopped by the federal district court of Colorado from making false claims about financing services and ordered to repay $128,300 to consumers he defrauded.

Ranney and his company, PWR Processing Inc., said they could refinance consumers' mortgages at the lowest available mortgage rates "at no cost to consumers," according to the Federal Trade Commission, which filed a complaint against Ranney and the company in May 2004.
Read the full story at Denver Business Journal