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Mortgage News for Monday - April 4, 2005

More Mortgage News
• Mortgage Industry May Owe Homeowners Billions For Overcharges.
• Colorado Mortgage Broker Barred from Making Deceptive Claims On Mortgage Refinancings
• Homeowners can refinance their mortgages to cash in before their on-paper profits go 'poof'
• Time To UnARM Yourself, Go Ahead With Mortgage Refinance?
• Mortgage lender pays off in first round
• What you get for a million bucks
• Web site combats real estate lending fraud
• A matter of increasing mortgage loan interest
• New Report Finds Many First Time Mortgages And Mortgage Refinancing Deals Could Have Falsified Property Values
• Half of surveyed lenders say real estate bubble exists
Mortgage News
Web site combats real estate lending fraud - 2005-04-04
A national mortgage bankers' group has started a resource center for lenders on mortgage fraud, the group announced today.

The Mortgage Bankers Association has initiated the Mortgage Fraud Against Lenders Resource Center, based in Washington, D.C., the group said today. The online resource is designed to be a one-stop shop for the industry to get information and tools to combat mortgage fraud.
Read the full story at Inman.com
 
A matter of increasing mortgage loan interest - 2005-04-04
The bad news about higher interest rates is that some home buyers will have to settle for less house. The good news, say economists, Realtors and home builders, is that rates are so low now that even a 1- or 2-point increase on a 30-year, fixed-rate mortgage won't likely derail Southwest Florida's charging housing market.

"I remember 10 years ago, if you told me mortgage rates were going to be 6.7 percent I would have said that's not bad," declared Larry Lieberman, principal owner of Barrington Group Inc.
Read the full story at Sarasota Herald-Tribune
 






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