By Samantha Peterson, Tuesday, June 22, 2004. Classmates sometimes tease his two sons. His mother refuses his advice on home loans. For former mortgage broker Kevin Barnes, it's all part of being a convicted felon. Barnes, 44, was convicted in the early 1990s of being part of a ring that perpetrated $24 million in mortgage fraud in the greater Kansas City area. more...
By Samantha Peterson, Tuesday, June 22, 2004. Editor's note: The hottest housing boom in U.S. history has resulted in a newfound obsession with real estate. Home listings information is everywhere, home television shows have exploded, and everyone's talking about the sale price of their neighbor's house. This three-part series examines the trend, what is behind it and what it all means. more...
By Samantha Peterson, Tuesday, June 22, 2004. Home shoppers now can log onto JungleListings.com and see for-sale-by-owner homes in the Baton Rouge, La., area. And if any of those prospective home buyers want to apply for a mortgage, that's easy enough to do. United Companies Mortgage Corp., after all, owns the site. Homeowners wanting to sell their homes themselves can list them on the Web site for free, complete with photos and virtual tours. The site is one example of a new product that lets FSBO homeowners get free marketing through mortgage brokers. more...
By Inman News, Tuesday, June 22, 2004.
By Inman News, Tuesday, June 22, 2004. The First American Corp. has beefed up its real estate default operations with the purchase of the Real Estate Owned (REO) segment of Burrow Closing Management Corp., a title ordering, clearing and settlement provider. The acquisition comes one week after the company bought mortgage default services provider SNK Holdings to create First American National Default Outsourcing, a growing component of First American's Mortgage Information Services group. Terms of the BCMC transaction were not disclosed. more...
By Carol Lloyd, Tuesday, June 22, 2004. (This is Part 2 of a two-part series. See Part 1: Remodeling nightmare come true.) Last week, I wrote about homeowners' tales of contractors from hell, and all the ways remodeling can turn dreams of better homes into nightmares of suburban rubble. Like all occasions of love, war and real estate, there are two sides to every conflict. more...
By Inman News, Tuesday, June 22, 2004. Bankrate today said it expects higher revenue and slightly lower net income in the second quarter compared with the same quarter last year. The consumer banking company expects to report revenue of $10 million to $10.2 million for the second quarter ending June 30. That compares with total revenue of $9.6 million during the same quarter last year. more...
By Inman News, Tuesday, June 22, 2004. Property ID, a Los Angeles-based company that markets real estate hazards disclosure reports, has been named the exclusive retail outlet for ChoicePoint's CLUE Risk Only Reports to the real estate and hazard disclosure markets in California. more...
By Inman News, Tuesday, June 22, 2004.
By Inman News, Tuesday, June 22, 2004. The Federal Reserve Board on Tuesday withdrew proposed rule revisions that would've more clearly defined specific disclosure requirements financial institutions must make to consumers. more...
By Inman News, Tuesday, June 22, 2004. In response to legislation introduced Monday in the state Assembly that raises the state's realty transfer fee, the New Jersey Association of Realtors launched another letter writing campaign opposing the legislation. A3115-Cryan raises the realty transfer fee on home sales above $350,000. The seller of a home priced at $349,000 will not see an increase over the current transfer fee. more...
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