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Mortgage News for Wednesday - February 21, 2007

More Mortgage News
• Refinance mortgage applications skid
• Wells Fargo cuts 320 subprime mortgage jobs
• 7 sentenced in Miss. mortgage flipping case
• Fed more optimistic about U.S. economy in Jan
• U.S. Economy Seen Expanding Modestly in 2007
• Fed's Yellen: Housing has potential to cause recession
Mortgage News
7 sentenced in Miss. mortgage flipping case - 2007-02-21
Seven people, including the man who prosecutors have regarded as the alleged ringleader of a mortgage fraud scheme, have been sentenced by a federal judge. U.S. District Judge Keith Starrett on Tuesday sentenced ringleader Richard Lucas and six others for their part in the mortgage flipping scheme.
Read the full story at Biloxi Sun Herald
 
Fed more optimistic about U.S. economy in Jan - 2007-02-21
Federal Reserve Board Chairman Ben Bernanke and his colleagues on the Federal Open Market Committee were a bit more optimistic about the prospects for the US economy at their January meeting than they were a month earlier, but they were still worried about the prospect of higher inflation. In January, the Fed left the key federal funds rate at 5.25 pct, where it has stayed since June. Their next meeting is March 20-21.
Read the full story at Forbes
 






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