US mortgage practices out of balance - key senator - 2007-02-07
U.S. mortgage lending practices are "out of balance" and must protect minority borrowers and those with less than pristine credit, Sen. Christopher Dodd, chairman of the Senate Banking Committee, declared on Wednesday.
Lawmakers and many witnesses testifying at a congressional hearing dubbed "Preserving the American Dream" focused on borrowers who have been effected by so-called subprime mortgages, which are traditionally higher-cost loans aimed at borrowers with less than ideal credit histories.
Read the full story at Reuters

Ex-mortgage exec sentenced to 20 years - 2007-02-07
The former top executive of a mortgage lending company was sentenced Wednesday to 20 years in prison for his part in scamming 8,000 investors of millions of dollars. Former HomeGold chief executive Ronald Sheppard was convicted a day before of securities fraud, conspiracy, and obtaining property by false pretenses day earlier. He had faced a maximum of 25 years in prison.
Read the full story at Charlotte Observer