State moves against former Metropolitan Mortgage brokers
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State securities regulators have moved to suspend or revoke the licenses of nine former brokers for Metropolitan Mortgage &amp; Securities, the bankrupt financial conglomerate that has left thousands of people across the Northwest holding hundreds of millions
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Brooklynâs Foreclosure Prevention Project has been so inundated with calls from those in trouble with mortgage bills that it had to stop taking them.
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Maryland's Division of Financial Regulation has ordered Frederick C. Lee Jr. and his Georgia company, Financial Independence Group, to stop all mortgage-related business after discovering that Lee and his company were originating loans in Maryland without a license.
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Investors who tried to turn a profit on the housing market are having an outsize influence on surging mortgage defaults in former boom states like California and Florida, a banking industry group said Thursday.
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New Century Financial Corp.  on Tuesday said the U.S. Securities and Exchange Commission is investigating the subprime mortgage lender, which is under siege from creditors and has stopped making loans.
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The Federal Reserve Board and other federal and state regulators announced plans yesterday to review the practices of lenders who are significant players in the troubled subprime home mortgage market, which typically caters to borrowers with blemished credit.
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The Illinois attorney general has subpoenaed documents from Countrywide Financial, broadening an investigation into lending practices that has already led to a lawsuit against one mortgage broker.
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Key lawmakers will try to amend the state constitution to curtail the governor's ability to sell off state-owned properties -- especially land bought in the name of preservation.
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LONDON-DekaBank Deutsche Girozentale, Germany s public sector bank and one of the country s biggest real estate fund managers, has filed a complaint with prosecutors claiming that a former managing director of ...
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A state program in Illinois designed to counsel borrowers on their mortgages may help homeowners, but some say it is unnecessary government intrusion.
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Much of the brokerage firmâs $7.9 billion write-down was tied to problems in the subprime mortgage market.
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As listings migrate to the Web, the broker's traditional fee is threatened.
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Fremont Investment &amp; Loan yesterday agreed to postpone foreclosure proceedings against 2,200 Massachusetts homeowners after state officials determined the lender gave subprime mortgages to borrowers who could not afford the loan payments.
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Three African-American mortgage borrowers from Boston accused Countrywide Home Loans Inc. of racial discrimination in a federal lawsuit yesterday, saying the nation's largest home lender charged them more for subprime mortgages than it charged white borrowers in similar financial situations.
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The turmoil in the mortgage markets has incited a wave of legal tangles, as homeowners are suing lenders, lenders are suing banks, banks are suing loan specialists. And investors are suing everyone.
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New York State prosecutors are investigating whether Wall Street banks withheld information about the risks posed by investments linked to subprime mortgages.
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Accredited Home Lenders Holding rebuffed a private equity firmâs effort to pay less for the company, saying Friday that it would continue a lawsuit aimed at closing the deal at the price previously agreed.