U.S. economy still in good shape: Treasury's Kimmitt - 2007-03-19
U.S. Deputy Treasury Secretary Robert Kimmitt said on Monday the U.S. economy is still in good shape and the housing market seems to be stabilizing. Kimmitt declared that the state of America's subprime mortgage market, which handles loans to people with poor credit histories, was something the Treasury and other regulators in the U.S. were "watching closely."
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Texas Considers Home Equity Loan Reform - 2007-03-19
A bill in the Texas legislature would alter the process by which home equity loan applications are completed as well as lower the fees associated with obtaining second mortgages. The proposal would stop brokers and lenders from accepting applications over the phone, instead requiring in-person meetings to complete the process. Doing so would help cut down on mortgage fraud, according to the bill's proponents.
Read the full story at BankNet 360