Real Estate News



Gee... do you think.. if you are paid on commission, bonus and override this could happen... Interesting Real Estate News items:


A federal probe of Countrywide
, the nation's largest mortgage lender, is turning up evidence that sales executives at the company deliberately overlooked inflated income figures for many borrowers, people with knowledge of the investigation say.

I enjoyed this one:
Confessions Of A Subprime Underwriter

AND a little good real estate news...
Banks and mortgage companies
face fines of $1,000 a day if they allow foreclosed homes to become run down and a source of neighborhood blight under a bill that passed the state Senate on Monday.

Many homeowners facing ARM resets today will find that their interest rates - instead of skyrocketing as predicted - won't change a lot. 
"If they go up, it won't be much. Some might even be lower," says Steve Cochrane, senior managing director at Moody's Economy.com.

 

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