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Sep 07, 2008 - 09:46 PM  
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Superintendent of Banks for New York State here Sept. 17th

Richard H. Neiman, Superintendent  of Banks for New York State is the guest speaker at the upcoming Lunch Meeting of the MBA of NENY o­n Wednesday, September 17th.  The New York State Banking Department has regulatory authority over New York State-chartered banks, Mortgage Bankers and Mortgage Brokers.

Neiman, a former bank President, began his career with the Office of the Comptroller of the Currency in Washington, D.C., followed by 10 years at Citicorp, where he held a variety of legal and regulatory positions.  Superintendent Neiman returned to Washington to serve as Director of Regulatory Advisory Services for Price Waterhouse.  In 1994 he joined TD Waterhouse Group, Inc., a bank holding company, as Executive Vice President and General Counsel.

The meeting will be at the Century House in Latham, Registration begins at 11:30am, Program begins at 12 noon.  Reservations can be made o­nline at www.mbaneny.com/events

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spacer.gif   Fees rise on government-backed loans
Posted by: maxcoccetti on Tuesday, September 02, 2008 - 09:09 AM
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WASHINGTON (AP) -- Borrowers who take out government-insured mortgages will have to pay higher fees under new rules announced this week.
Effective Oct. 1, the Federal Housing Administration will raise its mortgage insurance fee to 1.75 percent for a new mortgages and many refinanced loans. That's up from 1.5 percent.



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spacer.gif   FHA Secure Now Helps More Homeowners Refinance With an FHA Loan
Posted by: maxcoccetti on Tuesday, September 02, 2008 - 09:00 AM
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6 Reads

Last year, FHA rolled out FHASecure, a loan program designed to help homeowners with adjusting ARMs (adjustable rate mortgages) get a fixed rate. Last month, FHA re-launched FHA Secure with some fresh new guidelines aimed at helping even more homeowners.



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spacer.gif   Fed's Stern Says Now Not "Appropriate Time" to Close Fannie, Freddie
Posted by: maxcoccetti on Tuesday, September 02, 2008 - 08:39 AM
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6 Reads

Federal Reserve Bank of Minneapolis President Gary Stern said Wednesday that now is not an "appropriate time" to close government-sponsored Enterprises Fannie Mae and Freddie Mac.

Speaking on Bloomberg Television, Stern said it is "important" for Fannie and Freddie to function and that they should be re-oriented towards lower income buyers.



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spacer.gif   Expect Two More 'Waves' of U.S. Foreclosures, Economist Warns
Posted by: maxcoccetti on Tuesday, September 02, 2008 - 08:33 AM
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While the U.S is currently in the midst of the largest bout of home foreclosures in at least 30 years, at least one economist says two more 'waves' are likely on the way.



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spacer.gif   Cracking down on mortgage scammers
Posted by: maxcoccetti on Wednesday, July 30, 2008 - 09:59 AM
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63 Reads

The Justice Department is going after real estate fraud. The 400-plus people charged nationwide racked up $1 billion in losses. Here's what they are finding.
By Tami Luhby, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) -- While Congress and the Bush administration are focusing on bailing out struggling homeowners and financial companies, another group of federal officials are going after the people who helped propel the country into the mortgage crisis.

The FBI's Mortgage Fraud Task Force, which works with federal, state and local law enforcement officials across the United States, has ramped up its work. Its targets: mortgage brokers, lenders, appraisers and professionals who defraud homeowners and bankers.



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  Other Stories

· Fees rise on government-backed loans (Sep 02, 2008)
· FHA Secure Now Helps More Homeowners Refinance With an FHA Loan (Sep 02, 2008)
· Fed's Stern Says Now Not "Appropriate Time" to Close Fannie, Freddie (Sep 02, 2008)

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Sunday, July 13
·Fed to Bar Loan Penalties That Deter Refinancing, Person Says (0)
·Fannie, Freddie to Get $15 Billion From U.S., the Times Says (0)
Wednesday, July 09
·Treasury's Paulson Says Fresh Capital Will Strengthen GSEs (0)
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