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Mortgage News for Friday - May 27, 2005

More Mortgage News
• Royal Bank Sells U.S. Mortgage Unit to New Century
• Mortgage Venture Targets Latinos
• HUD offers 'reverse mortgage' program for senior citizens
• New Ways to Qualify for a Mortgage and Refinance Mortgage
• Do mortgage lenders really discriminate?
• Company claiming to eliminate loans is probed by FBI
• Reverse mortgage ‘danger signals’
• Sizzling real estate market sets record in sales and price
• Real Estate Vs. Stocks
• What's Next for Real Estate?
Mortgage News
Do mortgage lenders really discriminate? - 2005-05-27
Are minorities imposed higher mortgage fees or interest rates when compared with white applicants? Are they turned down for market-rate mortgages more frequently and steered toward higher-cost loans?

We might find out soon enough. That's because banks have just finished sending the U.S. government mandatory reports on race, gender, interest rates, fees and other characteristics from each institution's 2004 loan applications.
Read the full story at Boston Herald
 
Company claiming to eliminate loans is probed by FBI - 2005-05-27
A California company that caused a nationwide uproar by claiming it could wipe out homeowners' mortgages has surfaced in Wisconsin for a second time.
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Last week, a cashier at the Milwaukee County register of deeds office uncovered a fraudulent mortgage satisfaction filed in April for a West Allis property. The document was co-signed by the Dorean Group. The property owner, Donald Aber of Mukwonago, declined to comment Thursday.
Read the full story at Milwaukee Journal Sentinel
 






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