Ohio AG sues credit agencies for public pensions (AP) AP - The three major credit ratings agencies gave mortgage-backed securities unjustifiably high ratings in return for lucrative fees, losing at least $457 million for five Ohio public employee pension and retirement funds, the state's attorney general alleged in a lawsuit filed Friday. 13 charged with mortgage and loan fraud in Oregon (AP) AP - A federal grand jury in Eugene has indicted 13 people on mortgage and loan fraud charges arising from the collapse of a central Oregon development company. Conseco subsidiary reaches reinsurance agreement (AP) AP - Conseco Inc. said Friday that a subsidiary has reached a reinsurance agreement with Wilton Reassurance Co. covering about 237,000 life insurance policies. 7 charged in alleged securities and mortgage scam (AP) AP - State and federal prosecutors have charged seven people in an alleged securities scam that cheated dozens of people out of $17 million. Why Foreclosures Rise Even as the Economy Expands (U.S. News & World Report) U.S. News & World Report - Even as the U.S. economy expanded in the third quarter, the nation's eroding labor market sent the mortgage delinquency rate to new heights and created fresh headaches for the Obama administration. About 1 in every 7 home loans in the country was either past due or in foreclosure at the end of the third quarter, according...... What's Next for Mortgage Rates? (BusinessWeek) BusinessWeek - You> But> Some> Part>It> That> Who> They> Great,> Easier>Well,> As> With> Cue> Behind>O.K.,> That> What> My> General Growth, lenders agree on mall debt rework (AP)
NJ Resorts casino gets OK to give keys to lenders (AP) AP - America's first casino to open outside Nevada got permission Thursday to hand itself over to its lenders because it can't pay the mortgage. Summary Box: Foreclosures surge (AP) AP - FORECLOSURES RISE: The Mortgage Bankers Association reported that 14 percent of homeowners with a mortgage were either behind on payments or in foreclosure at the end of September. That was a record-high figure for the ninth straight quarter. You can save this news page by submitting it to your favorite sites:
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AP - Mall operator General Growth Properties Inc., which filed the largest U.S. real estate bankruptcy case in history earlier this year, said Thursday its lenders have agreed to restructure some $8.9 billion in shopping mall mortgage loans.
