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Author Archives: Kerri Panchuk

REO Horror Story: Duplex Dilemma

It’s never a good sign when the local police laugh at one of your REO listings. In fact, it’s down-right disheartening. At least that’s what associate broker Chris Price, head of The Chris Price Real Estate Team at Keller Williams Realty, felt when he was handed the listing of a duplex in a not-so-safe neighborhood.

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Freddie Mac Settles with SEC

McLean, Virginia-based Freddie Mac, one of the nation’s largest government-sponsored enterprises, announced this week that it plans to settle a lawsuit levied by the U.S. Securities and Exchange Commission by agreeing to pay a $50 million-settlement.

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Mortgage Loan Applications Decline in Latest MBA Survey

%{=BORDER-TOP-WIDTH: 1pt; PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BORDER-LEFT-WIDTH: 1pt; FONT-SIZE: 8.5pt; BORDER-LEFT-COLOR: windowtext; BORDER-BOTTOM-WIDTH: 1pt; BORDER-BOTTOM-COLOR: windowtext; PADDING-BOTTOM: 0in; COLOR: #333333; BORDER-TOP-COLOR: windowtext; PADDING-TOP: 0in; FONT-FAMILY: Verdana; BORDER-RIGHT-WIDTH: 1pt; BORDER-RIGHT-COLOR: windowtext; mso-border-alt: none windowtext 0in}The volume of mortgage loan applications fell in the Mortgage Bankers Association’s (MBA) most recent Weekly Mortgage Applications Survey for the week ending September 21, 2007.

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Another Subprime Lender Faces Class Action Lawsuit

Fremont General Corp., the parent company of lender Fremont Investment & Loan, is now facing a class action lawsuit filed by the law firm of Cohen, Milstein, Hausfeld & Toll, P.L.L.C. The lawsuit claims the lender and certain leaders within its organization omitted or misrepresented material adverse facts about the company’s financial condition, business prospects, and revenue expectations during the class period that occurred between the dates of May 9, 2006 through February 27, 2007.

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Bay State Auction Veteran Launches New England Auction Co.

A new auction company in Massachusetts is meeting the Bay State’s growing demand for quick and efficient auction solutions. The company, Sullivan & Sullivan Auctioneers, LLC, was founded by Marianne Sullivan, an industry veteran with more than 18 years of experience in the industry.

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Credit Suisse Announces Layoffs

Switzerland-based bank Credit Suisse announced the elimination of 150 jobs on Wednesday, according to news reports from Bloomberg News. %{=font-style: italic;}Bloomberg %says the layoffs were announced in response to occurrences in the U.

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Fremont General Investor Gets Cold Feet

Santa Monica, California-based subprime lender Fremont Investment & Loan)—an affiliate of Fremont General Corp.—is not out of the woods just yet. In a recent filing with the Securities and Exchange Commission, the company said Gerald J.

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NAMP and FHA Online Develop FHASecure Courses

The National Association of Mortgage Processors (NAMP) has forged a partnership with FHA Online University to help mortgage professionals learn and utilize all the new mortgage loan options available under the FHASecure loan initiative.

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