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Mortgage and Banking is a leading global investor and industry research portal for the mortgage and banking sector ( Search for "Mortgage Banking Stocks" on Google.com, Yahoo.com and MSN Search ). The website does not make stock recommendations but features industry and stock news, exclusive articles and financial columnists, audio interviews and Podcasts, investor conferences, Blogs, and a directory of stocks in the sector.  Mortgage and Banking related companies are invited to submit news, articles and research: click here.


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  • 2 Midwest Banks Fail ()  The Illinois Department of Financial Professional Regulation's Division of Banks closed down Meridian Bank, according to a statement. National Bank has assumed the $37 million in deposits of Meridian. In addition, the Michigan Office of Financial and Insurance Regulation closed Main Street Bank. Monroe Bank & Trust took over Main Street's $86 million in deposits.
  • Lawsuit Dropped Against Illinois Sheriff ()  On Wednesday, the sheriff of Cook County, Illinois, issued a statement indicating he is suspending all foreclosure evictions. The following day, Accredited Home Lenders filed a petition againstthe county seeking to have a former borrower evicted from her foreclosed home. One day later, Accredited decided to withdraw its petition.
  • Inside Mortgage Fraud ()  Assistant U.S. Attorney Shamoil Shipchandler spoke to the Dallas Mortgage Bankers Association last month about the prosecution of fraud. He described fraud for property, where criminals commit mortgage fraud so they can live in a property. Shipchandler also discussed fraud for profit, where the bad guy pulls out significant money from mortgage fraud transactions without actually being part of the transaction. Shipchandler explained that before he can prosecute a case, another U.S. Department of Justice associate has to analyze the financial records to determine what might have happened. Then, secret service agents handle the leg work to determine where the fraud occurred and who the victims were, while FBI agents investigate straw borrowers and investors. Even the Internal Revenue Service gets involved.
Bankrate.com: Today's new stories Fri, 10 Oct 2008 13:00:38 GMT Bankrate.com: Today's Best Mortgage Rates 8/27/2008 9:00:01 AM

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