Missouri mother, son indicted in real estate fraud scheme

A Missouri mother and son were indicted Tuesday in connection with an alleged mortgage fraud scheme that resulted in 23 fraudulent loans totaling more than $5 million.

Eric Kendall Taylor, 35 of Lee's Summit, Mo., and his mother, Doris Taylor, 58, Kansas City, Mo., were indicted in the United States District Court for the Western District of Missouri on April 4.

The two are alleged in the indictment to have operated a mortgage fraud scheme in Kansas City and Lee's Summit, Missouri from the summer of 1999 through September 23, 2005.  more...

Real estate agent to plead guilty to falsifying credit documents

An Ohio real estate agent who reportedly sold about 170 properties from 1997-2004 at inflated prices will plead guilty to charges that he created false credit documents and filed a false federal income-tax return, according to a report in The Columbus Dispatch.

Steven E.  more...

Equifax joint venture gets into mortgage settlement services

Equifax Inc. and ATM Corp. have formed a joint venture to launch a national settlement services company, the two announced late last week.  more...

Foreclosures climb in Massachusetts

Property foreclosures in Massachusetts were 63 percent higher in a March report than they were two years ago, according to data released this week, as more of the nation's housing markets cool from record highs.

"February 2006, the shortest month of the year, produced more foreclosure filings than any other month in the past three years," said Jeremy Shapiro, president and co-founder of ForeclosuresMass, a provider of foreclosure data for investors, real estate professionals and mortgage brokers.  more...

Realtors can access virtual library

The National Association of Realtors has announced the launch of an "eBooks Collection" that features 300 digital and audio books that Realtors can access through their PDAs, laptops and SmartPhones.

The digital media encompass such topics as sales techniques and personal growth tips.

"Through the eBooks Collection, NAR members will have access to digital literature," said Dale Stinton, NAR CEO and executive vice president, in a statement.  more...

Overnight real estate rates hold steady

Long-term mortgage interest rates inched lower on Thursday, and the benchmark 10-year Treasury bond yield jumped to 4.9 percent.

The 30-year fixed-rate average edged up to 6.02 percent, and the 15-year fixed-rate increased to 5.71 percent. The 1-year adjustable was unchanged at 5.08 percent.

The 30-year Treasury bond yield rose to 4.97 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...