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Scope Note The purpose of this study is to provide insight into the breadth and depth of mortgage fraud crimes perpetrated against the United States and its citizens during 2009. This report updates the 2008 Mortgage Fraud Report and addresses current mortgage fraud projections, issues, and the identification of mortgage fraud "hot spots." The objective of this study is to provide FBI program managers with relevant data to better understand the threat, identify trends, allocate resources, and prioritize investigations. The report was requested by the Financial Crimes Section, Criminal Investigative Division (CID), and prepared by the Financial Crimes Intelligence Unit (FCIU), Directorate of Intelligence (DI). This report is based on FBI, state and local law enforcement, mortgage industry, and open-source reporting. Information was also provided by other government agencies, including the U.S. Department of Housing and Urban Development-Office of Inspector General (HUD-OIG), Federal Housing Administration (FHA), the Federal National Mortgage Association, and the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN). Industry reporting was obtained from the LexisNexis Mortgage Asset Research Institute (MARI), RealtyTrac, Inc., Mortgage Bankers Association (MBA), and Interthinx®. Some industry reporting was acquired through open sources. While the FBI has high confidence in all of these sources, some inconsistencies relative to the cataloging of statistics by some organizations are noted. For example, suspicious activity reports (SARs) are cataloged according to the year in which they are submitted and the information contained within them may describe activity that occurred in previous months or years. The geographic specificity of industry reporting varies as some companies report at the zip code level, and others by city, region, or state. Many of the statistics provided by the external sources, including FinCEN, FHA, and HU

ATLANTA - Cases of residential mortgage fraud reported by institutions in the home financing industry fell last year for the second year in a row, according to a new study. The LexisNexis Risk Solutions Mortgage Fraud Report released Wednesday tracks verified instances of home loan fraud or misrepresentation by mortgage industry professionals, as reported by banks and other financial institutions. The fraud could include a borrower falsifying information on loan documents but only if the borrower was conspiring with a mortgage industry professional. The study found that mortgage fraud reports declined 35 percent between 2010 and 2011. One factor in the decline is that mortgage loan originations sank to their lowest levels since 2001 last year, reflecting a sharp drop in sales of new and previously occupied homes. Another is that fewer mortgage fraud schemes are taking place at the point where a buyer tries to get a home loan. Mortgage fraud involving the buying or selling of homes in some stage of foreclosure is becoming more common, according to the FBI. Mortgage fraud investigations by the FBI resulted in 1,082 convictions in fiscal 2011, the agency has said. Loan application and home appraisal fraud and misrepresentation made up the largest category of fraud type being investigated by lenders last year, according to the LexisNexis study. Among the trends identified in the report: Instances where buyers and sellers potentially colluded in a home sale or purchase transaction are running at an elevated pace. One red flag of collusion in a real estate transaction is when there is an undisclosed relationship between buyer and seller, or agent, which could potentially lead to a conflict of interest. Unless disclosed, real estate transactions are expected to be arm's-length, or with buyer and seller having no relationship to each other. In 2011, lenders reported that transactions where such a relationship was not disclosed d

Scope Note The purpose of this study is to provide insight into the breadth and depth of mortgage fraud crimes perpetrated against the United States and its citizens during 2009. This report updates the 2008 Mortgage Fraud Report and addresses current mortgage fraud projections, issues, and the identification of mortgage fraud "hot spots." The objective of this study is to provide FBI program managers with relevant data to better understand the threat, identify trends, allocate resources, and prioritize investigations. The report was requested by the Financial Crimes Section, Criminal Investigative Division (CID), and prepared by the Financial Crimes Intelligence Unit (FCIU), Directorate of Intelligence (DI). This report is based on FBI, state and local law enforcement, mortgage industry, and open-source reporting. Information was also provided by other government agencies, including the U.S. Department of Housing and Urban Development-Office of Inspector General (HUD-OIG), Federal Housing Administration (FHA), the Federal National Mortgage Association, and the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN). Industry reporting was obtained from the LexisNexis Mortgage Asset Research Institute (MARI), RealtyTrac, Inc., Mortgage Bankers Association (MBA), and Interthinx®. Some industry reporting was acquired through open sources. While the FBI has high confidence in all of these sources, some inconsistencies relative to the cataloging of statistics by some organizations are noted. For example, suspicious activity reports (SARs) are cataloged according to the year in which they are submitted and the information contained within them may describe activity that occurred in previous months or years. The geographic specificity of industry reporting varies as some companies report at the zip code level, and others by city, region, or state. Many of the statistics provided by the external sources, including FinCEN, FHA, and HU

ATLANTA - Cases of residential mortgage fraud reported by institutions in the home financing industry fell last year for the second year in a row, according to a new study. The LexisNexis Risk Solutions Mortgage Fraud Report released Wednesday tracks verified instances of home loan fraud or misrepresentation by mortgage industry professionals, as reported by banks and other financial institutions. The fraud could include a borrower falsifying information on loan documents but only if the borrower was conspiring with a mortgage industry professional. The study found that mortgage fraud reports declined 35 percent between 2010 and 2011. One factor in the decline is that mortgage loan originations sank to their lowest levels since 2001 last year, reflecting a sharp drop in sales of new and previously occupied homes. Another is that fewer mortgage fraud schemes are taking place at the point where a buyer tries to get a home loan. Mortgage fraud involving the buying or selling of homes in some stage of foreclosure is becoming more common, according to the FBI. Mortgage fraud investigations by the FBI resulted in 1,082 convictions in fiscal 2011, the agency has said. Loan application and home appraisal fraud and misrepresentation made up the largest category of fraud type being investigated by lenders last year, according to the LexisNexis study. Among the trends identified in the report: Instances where buyers and sellers potentially colluded in a home sale or purchase transaction are running at an elevated pace. One red flag of collusion in a real estate transaction is when there is an undisclosed relationship between buyer and seller, or agent, which could potentially lead to a conflict of interest. Unless disclosed, real estate transactions are expected to be arm's-length, or with buyer and seller having no relationship to each other. In 2011, lenders reported that transactions where such a relationship was not disclosed declined t

Statewide California Indian Legal Services Assistance: Foreclosure to all Native Americans living in California and other Residents of select Counties Location: Escondido, Bishop, Eureka, and Sacramento Website: http://www.calindian.org/ Phone: Escondido: (760) 746-8941 or (800) 743-8941 Bishop: (760) 873-3581 or (800) 736-3582 Eureka: (707) 443-8397 or (800) 347-2402 Sacramento: (916) 978-0960 or (800) 829-0284 Services: The various offices provides free and low-cost legal services to Native Americans and Native American tribes and residents of the Counties of Alpine, Inyo, Kern, Mono, Tuolumne, Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, Ventura, Del Norte, Humboldt, Lassen, Modoc, Shasta, Siskiyou, Trinity , Alameda, Amador, Butte, Calaveras, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Kings, Lake, Madera, Marin, Mariposa, Mendocino, Merced, Monterey, Napa, Nevada, Placer, Plumas, Sacramento, San Benito, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Clara, Santa Cruz, Sierra, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Yolo, Yuba. California Rural Legal Assistance (CRLA) Assistance: Foreclosure and Loan Modification Scams for California Residents in Rural Areas in English and Spanish Location: Coachella, Delano, El Centro, Fresno, Gilroy, Lamont, Madera, Marysville, Modesto, Monterey, Oceanside, Oxnard, Paso Robles, Salinas, San Luis Obispo, Santa Barbara, Santa Cruz, Santa Maria, Santa Rosa, Stockton, Watsonville Website: http://www.crla.org/ Phone: To find the contact information for the office closest to you, please visithttp://www.crla.org/index.php?page=office-locations-amp-staff Services: CRLA provides free legal services to low-income residents in various rural counties. The organization assists with foreclosure and loan modification scam issues. In particular, CRLA operates free foreclosure intervention workshops out of the Mary

Recent headlines about the troubled subprime lending industry are making Americans more aware of the consequences of risky lending practices. But unscrupulous lenders and scam artists continue to prey on unsuspecting loan shoppers and homeowners. Unfortunately, loan-related scams aren't restricted to tricking consumers into loans with outrageously high interest rates. Today's sophisticated scammers are using loans as a vehicle to do everything from stealing sensitive personal information to virtually stealing a credit-challenged homeowner's own home. The mortgage experts at Loan.com have identified five top scams that all consumers - mortgage shoppers and homeowners alike - should be on the look-out for. 1. Unsolicited phone calls Americans across the country have reported receiving phone calls from telemarketers posing as representatives from well-known organizations such as Fannie Mae offering to refinance loans at low rates. These "representatives" often ask for personal information, claiming they need it to qualify a victim for a loan. This information is then used to steal a victim's identity. Loan.com's Advice: Be wary of any phone call offering remarkably low interest rates on loans, especially if you have registered your phone number with the Do Not Call Registry. Most major nationwide lenders do not solicit business over the phone. Never give out personal information over the phone unless you are absolutely sure who you are speaking with. 2. "Helpful" contractors Many homeowners have reported contractors - often roofing or remodel professionals - approaching them with an offer to perform upgrades on their home at a reasonable price. These contractors offer financing through low-interest loans. It's not until after signing numerous forms that too many homeowners realize they have signed off on a high-interest home equity loan, and that the contractor has been hired by unscrupulous lenders to sell loans, not impro

LA CRESCENTA, Calif. (KABC) - More than two dozen people say they fell victim to a costly home loan scam that targeted Korean immigrants. The lawyer accused of orchestrating it all is being sued. It took a life savings to buy this La Crescenta home. Losing it took mere months, all because of accused lawyer Timothy D. Thurman and Trinity Law Associates. Ok Kee Shin is just one of 28 alleged victims. "It is just such a shock, and that the house had been sold and foreclosed," said Shin through a translator. In a lawsuit, the Asian Pacific American Legal Center details a web of fraud. Though the plaintiffs are all Korean immigrants, people of any nationality could fall for this one. The suit says Trinity Law Firm hired Koreans to place ads, then illegally paid them, like bounty hunters, to bring in customers. "This practice known as 'running and capping' is against the law," said Yungsuhn Park, Asian Pacific American Legal Center. "Attorneys are prohibited from paying non-attorney agents to find clients." Everything seemed so credible. The Trinity Law Firm operated out of a high-rise on Wilshire Boulevard. "So he flipped through my loan documents and he told me that this was a bank that had a lot of errors in their loan documents," said Shin's translator, quoting her. She says Thurman assured her he could fix her loan for a fee of $7,000, and that she should stop paying her mortgage and ignore the foreclosure notices. Legal advocates now spread a warning: Avoid any person who offers guarantees to stop a foreclosure. Don't pay up-front fees: They are also illegal after a state law was passed last October. And seek help from a non-profit first. You don't need an attorney for loan modifications. As for Thurman, he was in trouble even before this suit. He pleaded guilty to forging the signature of a judge on a foreclosure document, a crime punishable by five years in prison - a penalty that comes too late to save former homeowners.

By Romesh Navaratnarajah: Cases of residential mortgage fraud in the US done in collusion with mortgage industry professionals dropped 35 percent between 2010 and 2011, according to the LexisNexis Risk Solutions Mortgage Fraud Report. The report tracked actual cases of mortgage fraud or misrepresentation by mortgage sector professionals, as reported by lenders and other financial institutions. These include cases of borrowers falsifying information on mortgage documents but only if they conspired with mortgage industry professionals. One reason for the significant decline is because mortgage loan originations fell to its lowest level in 2011 since 2001, indicating a sharp reduction in sales of new and previously-occupied homes. Another reason is that fewer fraud schemes are committed when a buyer is trying to get a home loan. However, the FBI noted that loan fraud involving selling or buying homes is more common at some stages of foreclosure, adding that mortgage fraud investigations led to 1,082 convictions in FY 2011. According to the LexisNexis study, home appraisal and loan application fraud, along with misrepresentation, accounted for the biggest category of fraud investigated by lenders in 2011. Related Stories: Fixed-rate mortgage in demand despite cheaper tracker-rate loans 15% discount on mortgages reappears in Shanghai US mortgage rates fall to new record lows More from PropertyGuru: Fixed-rate mortgage in demand despite cheaper tracker-rate loans 15% discount on mortgages reappears in Shanghai US mortgage rates fall to new record lows HK mortgage numbers shrinking

Statewide California Indian Legal Services Assistance: Foreclosure to all Native Americans living in California and other Residents of select Counties Location: Escondido, Bishop, Eureka, and Sacramento Website: http://www.calindian.org/ Phone: Escondido: (760) 746-8941 or (800) 743-8941 Bishop: (760) 873-3581 or (800) 736-3582 Eureka: (707) 443-8397 or (800) 347-2402 Sacramento: (916) 978-0960 or (800) 829-0284 Services: The various offices provides free and low-cost legal services to Native Americans and Native American tribes and residents of the Counties of Alpine, Inyo, Kern, Mono, Tuolumne, Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, Ventura, Del Norte, Humboldt, Lassen, Modoc, Shasta, Siskiyou, Trinity , Alameda, Amador, Butte, Calaveras, Colusa, Contra Costa, El Dorado, Fresno, Glenn, Kings, Lake, Madera, Marin, Mariposa, Mendocino, Merced, Monterey, Napa, Nevada, Placer, Plumas, Sacramento, San Benito, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Clara, Santa Cruz, Sierra, Solano, Sonoma, Stanislaus, Sutter, Tehama, Tulare, Yolo, Yuba. California Rural Legal Assistance (CRLA) Assistance: Foreclosure and Loan Modification Scams for California Residents in Rural Areas in English and Spanish Location: Coachella, Delano, El Centro, Fresno, Gilroy, Lamont, Madera, Marysville, Modesto, Monterey, Oceanside, Oxnard, Paso Robles, Salinas, San Luis Obispo, Santa Barbara, Santa Cruz, Santa Maria, Santa Rosa, Stockton, Watsonville Website: http://www.crla.org/ Phone: To find the contact information for the office closest to you, please visithttp://www.crla.org/index.php?page=office-locations-amp-staff Services: CRLA provides free legal services to low-income residents in various rural counties. The organization assists with foreclosure and loan modification scam issues. In particular, CRLA operates free foreclosure intervention workshops out of t

Recent headlines about the troubled subprime lending industry are making Americans more aware of the consequences of risky lending practices. But unscrupulous lenders and scam artists continue to prey on unsuspecting loan shoppers and homeowners. Unfortunately, loan-related scams aren't restricted to tricking consumers into loans with outrageously high interest rates. Today's sophisticated scammers are using loans as a vehicle to do everything from stealing sensitive personal information to virtually stealing a credit-challenged homeowner's own home. The mortgage experts at Loan.com have identified five top scams that all consumers - mortgage shoppers and homeowners alike - should be on the look-out for. 1. Unsolicited phone calls Americans across the country have reported receiving phone calls from telemarketers posing as representatives from well-known organizations such as Fannie Mae offering to refinance loans at low rates. These "representatives" often ask for personal information, claiming they need it to qualify a victim for a loan. This information is then used to steal a victim's identity. Loan.com's Advice: Be wary of any phone call offering remarkably low interest rates on loans, especially if you have registered your phone number with the Do Not Call Registry. Most major nationwide lenders do not solicit business over the phone. Never give out personal information over the phone unless you are absolutely sure who you are speaking with. 2. "Helpful" contractors Many homeowners have reported contractors - often roofing or remodel professionals - approaching them with an offer to perform upgrades on their home at a reasonable price. These contractors offer financing through low-interest loans. It's not until after signing numerous forms that too many homeowners realize they have signed off on a high-interest home equity loan, and that the contractor has been hired by unscrupulous lenders to sell loans, not improve

These house poor families were spending more than 30 percent of their income to pay back the principal and interest for their loans, and had more liabilities than available assets, meaning they would be unable to repay their debts even by selling off all their non-home assets. Most house poor, or 96.3 percent, said in the survey that they were finding the repayment ofloans extremely burdensome. About three-quarters of them said they were reducing their spending to pay off the loans.Sixty-four percent said they would like to sell their homes soon. As for the reasons for wanting to sell off their home, 26.9 percent said they wished to readjust their asset portfolio, and 25.4 percent cited the burden of repaying loans.Others said they wished to change the size of their homes (18.7 percent) or to withstand the economic downturn (13.7 percent).Nearly two-fifths of the house poor were in their 30s and 40s. Following those in their 30s (19.6 percent) and 40s (18.9 percent) were people in their 50s (13.5 percent) and 60s (11.2 percent), indicating that many people were financially squeezed before and after retirement.The more expensive the homes, the greater the number of house poor. Some 22.3 percent of the house poor in the survey hadmortgage loans on residential properties worth more than 900 million won. About 14.5 percent had homes worth between 600 million and 900 million won. Seventeen percent had homes worth between 300 million and 600 million won, and 15.6 percent between 150 million and 300 million won. Only 13.2 percent had homes valued less than 150 million won. Seoul (17.4 percent) and the surrounding Gyeonggi Province (18 percent) showed the highest rate of house poor families. In the capital, four of the 25 districts - which have the most expensive apartments - accounted for 17.2 percent of the house poor. "About 26.2 percent of all mortgage loans were taken out by people with a low ability to repay the debts," the research instit

These house poor families were spending more than 30 percent of their income to pay back the principal and interest for their loans, and had more liabilities than available assets, meaning they would be unable to repay their debts even by selling off all their non-home assets. Most house poor, or 96.3 percent, said in the survey that they were finding the repayment ofloans extremely burdensome. About three-quarters of them said they were reducing their spending to pay off the loans.Sixty-four percent said they would like to sell their homes soon. As for the reasons for wanting to sell off their home, 26.9 percent said they wished to readjust their asset portfolio, and 25.4 percent cited the burden of repaying loans.Others said they wished to change the size of their homes (18.7 percent) or to withstand the economic downturn (13.7 percent).Nearly two-fifths of the house poor were in their 30s and 40s. Following those in their 30s (19.6 percent) and 40s (18.9 percent) were people in their 50s (13.5 percent) and 60s (11.2 percent), indicating that many people were financially squeezed before and after retirement.The more expensive the homes, the greater the number of house poor. Some 22.3 percent of the house poor in the survey hadmortgage loans on residential properties worth more than 900 million won. About 14.5 percent had homes worth between 600 million and 900 million won. Seventeen percent had homes worth between 300 million and 600 million won, and 15.6 percent between 150 million and 300 million won. Only 13.2 percent had homes valued less than 150 million won. Seoul (17.4 percent) and the surrounding Gyeonggi Province (18 percent) showed the highest rate of house poor families. In the capital, four of the 25 districts - which have the most expensive apartments - accounted for 17.2 percent of the house poor. "About 26.2 percent of all mortgage loans were taken out by people with a low ability to repay the debts," the research instit

Mortgage fraud is crime in which the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower known the truth. In United States federal courts, mortgage fraud is prosecuted as wire fraud, bank fraud, mail fraud and money laundering, with penalties of up to thirty years imprisonment.As the incidence of mortgage fraud has risen over the past few years, states have also begun to enact their own penalties for mortgage fraud. Mortgage fraud is not to be confused with predatory mortgage lending, which occurs when a consumer is misled or deceived by agents of the lender. However, predatory lending practices often co-exist with mortgage fraud. Types Occupancy fraud: This occurs where the borrower wishes to obtain a mortgage to acquire an investment property, but states on the loan application that the borrower will occupy the property as the primary residence or as a second home. If undetected, the borrower typically obtains a lower interest rate than was warranted. Because lenders typically charge a higher interest rate for non-owner-occupied properties, which historically have higher delinquency rates, the lender receives insufficient return on capital and is over-exposed to loss relative to what was expected in the transaction. In addition, lenders allow larger loans on owner-occupied homes compared to loans for investment properties. When occupancy fraud occurs, it is likely that taxes on gains are not paid, resulting in additional fraud. It is considered fraud because the borrower has materially misprepresented the risk to the lender to obtain more favorable loan terms. Income fraud: This occurs when a borrower overstates his/her income to qualify for a mortgage or for a larger loan amount. This was most often seen with so-called "stated income" mortgage loans (popularly referred to as "liar loans"), where the borrower, or a l

South Korea announced steps Thursday to bolster its sagging property market, including easing restrictions imposed on some districts of the capital. Seoul in 2003 restricted mortgage loan-to-value ratios to 40 percent and banned buyers from spending more than 40 percent of their income on repayments in three southern Seoul areas seen as most attractive to speculators. From now on, the same rules will apply citywide, with buyers able to borrow up to 50 percent of a property's value and spend up to 50 percent of their income on repayments. House prices in the Seoul metropolitan area have been falling for 10 successive months, with the latest April reading showing a 0.3 percent month-on-month decline. The government said it would also cut taxes on capital gains from property in the three districts, and would offer low-interest loans to a wider range of potential home-buyers in the capital. "We're rolling back excessive regulations adopted back in the early 2000s when the property market was overheating," the land ministry said in a statement. "Despite an increase in home supply... transactions in the housing sector are shrinking, while new apartment sales are also sluggish, hit by (economic) uncertainties." You can also visit us @ http://newscenter.springhillgrouphome.com/

"http://springhillgrouphome.multiply.com/journal/item/124/Koreas-largest-bank-reports-3000-cases-of-loan-doc-fraud-    Korea`s largest bank Kookmin has had 3,000 cases of document manipulation in applications for collective loans for intermediate payment. The bank said five people recently filed a petition to police after suffering losses from manipulation of related documents by bank staff, and has launched an investigation into similar cases. According to the Financial Supervisory Service and the bank, Kookmin probed between the end of last month and Aug. 10 manipulation cases on 200,000 collective loans for intermediate payment on 850 reconstruction and redevelopment apartment sites, and discovered more than 3,000 fraud cases. According to the bank`s findings, most cases involved employee manipulation of the expiration date of collective loans for intermediate payment. In the past, three years of maturity have typically been written for collective loans for intermediate payment regardless of when the borrower would move to the house. If the bank`s headquarters reduced the time to 26 or 27 months, however, bank employees would scrape out the number and put in three years again. If the lending period is shorter than the date written in the contract, the borrower would be pressured for repayment. Collective loans for intermediate payment are shifted to lending with home collateral. So a person can move into a house before the lending maturity expires, but failure to move in within the time frame would mean he or she must make the intermediate payment because it is not shifted to a home equity loan. Since the number of manipulation cases was bigger than expected, a massive filing of lawsuits is likely. Fraud was considerable in cases of apartments that people had signed contracts on, an area that has seen many conflicts between builders and banks. A financial regulatory source said, "Document manipulation cases, if identified, will raise the number of lawsuits by r

"Real Estate Scam Used Fake Adoption To Buy Rights- livej... http://springhillgroup.livejournal.com/26853.html   The ring earned about four hundred eighty million Won ($ four hundred and seventy-nine thousand five hundred twenty) abusing are housing Law that Gives preference to are private Home Buyer Children are healthy and child or with an. The ringleader while WAS 14 Others Arrested, Including Real Estate Brokers and loan shark are, Were charged but not detained, said spokesman for the Seoul Metropolitan Police Agency are. Government Regulations FIX anti-speculation the price of some Apartments built privately and Reserve ares are seen as what percentage of homes for deserving applicants. Officials are trying to Overcome Traditional reluctance in South Korea are, which places stress on Great Family Bloodlines, to Adopt Children. Police said the loan shark visited ares Street vendor last July and received 10 million won. Return to rights he waived in HIS HIS Daughters are let and Street Cleaner "Adopt" them. The Street Cleaner used to the Adoption Document to Secure rights are Buy Luxury Condominium but are resold the rights to high School Teacher. Using fake Adoption Documents, the Obtained the right ring to Buy Apartments in Seoul and nearby Cities twenty-one. Police also charged 20 biological and nineteen "adoptive parents" for accepting up to 10 million Won in Each Case. AFP"

"Springhill Group -Blogger ING Rethinking Insurance Unit SALE and 3 HOT Stocks Moving the Market: Blogger According to Reuters ING (NYSE:ING) may disconnect the sale of its $1 billion Hong Kong insurance unit from other Asian operations that are on the block. The move could render the unit more attractive to a buyer focused on that region, while allowing ING to accept lower prices at auctions of the S. Korean and Japanese businesses which have met with only a lukewarm response. Don't Miss: Who is Apple's New FRIEND? ResCap is facing a probe from the SEC for alleged impropriety in loan originations and underwriting and also likely fraud in the sale of mortgage bonds. The probe came to light when the SEC filed in court to compel printer R.R. Donnelley & Sons (NASDAQ:RRD) to hand over documents it prepared for underwriters of the bonds. Arbitration between Morgan Stanley (NYSE:MS) and Citigroup (NYSE:C) has been extended for a further period up to September 10 in order to arrive at a mutually acceptable price for the purchase of another 15 percent tranche in the Smith Barney brokerage JV. While Morgan Stanley values the original business at $9 billion, Citi sees the same at $23 billion, a rather wide disparity that has to be settled by arbitrator Perella Weinberg. JA Solar (NASDAQ:JASO), Chinese manufacturer of mono-crystalline solar cells, reports an EPS of -$0.37 for its second quarter, which is off estimates by $0.23. Revenues are down 32.3 percent y-on-y at $284.4 million, which misses by $ 8 million "

Loan Against Properties Springhill Group Home Equity Loans helps you encash the present market value of the property by taking a loan by mortgaging the property. Features of Loan Against Property Purpose Loan can be for any purpose. However, the funds should not be used for speculation or any illegal purposes. Customers have benefited by taking loans to meet the following funding requirements Education Marriage Expenses Medical Expenses Property Residential Non Residential - Should be Fully Constructed - Should be a Freehold property having a clear and marketable title. Adjustable Rate Home Loan Conditions apply on this kind of loan, please contact us directly to inquire

South Korean Police said yesterday they have Busted ares fifteen-Member Group that faked the Adoption of Children to pull off ares Real-Estate Scam. The ring earned about four hundred eighty million Won ($ four hundred and seventy-nine thousand five hundred twenty) abusing are housing Law that Gives preference to are private Home Buyer Children are healthy and child or with an. The ringleader while WAS 14 Others Arrested, Including Real Estate Brokers and loan shark are, Were charged but not detained, said spokesman for the Seoul Metropolitan Police Agency are. Government Regulations FIX anti-speculation the price of some Apartments built privately and Reserve ares are seen as what percentage of homes for deserving applicants. Officials are trying to Overcome Traditional reluctance in South Korea are, which places stress on Great Family Bloodlines, to Adopt Children. Police said the loan shark visited ares Street vendor last July and received 10 million won. Return to rights he waived in HIS HIS Daughters are let and Street Cleaner "Adopt" them. The Street Cleaner used to the Adoption Document to Secure rights are Buy Luxury Condominium but are resold the rights to high School Teacher. Using fake Adoption Documents, the Obtained the right ring to Buy Apartments in Seoul and nearby Cities twenty-one. Police also charged 20 biological and nineteen "adoptive parents" for accepting up to 10 million Won in Each Case. AFP

"Briefs..... - thenews.com.pk - Facebook  http://www.facebook.com/notes/bethany-rawlins/briefs-thenewscompk/270309179753391 China paper hints at anti-Japan sanctions BEIJING: The mouthpiece of China's Communist Party warned on Monday that Japan's economy could suffer for up to 20 years if Beijing chose to impose sanctions over an escalating territorial row. Anti-Japanese protests have been held across China in recent days over a dispute on a group of small islands in the East China Sea claimed by both countries but controlled by Tokyo. The row intensified last week when the Japanese government bought three of the islands, effectively nationalising them, and China responded by sending patrol ships into the waters around them. Trade sanctions between Asia's two biggest economies could cast a pall over growth on the continent, which major Western countries are counting on to drive recovery from the global slowdown. A commentary in the People's Daily newspaper said the Japanese economy has already experienced two lost decades from the 1990s and was suffering further weakness in the aftermath of the world financial crisis and 2011 earthquake. Digital news offering aims at high ground WASHINGTON: It seems like a terrible time to be launching a news operation.But there are opportunities and niches, and the new digital media launch called Quartz from Atlantic Media Company seeks to exploit them. Quartz is set to launch in the coming weeks as a "100 percent digital" news operation covering "the most important themes of the new global economy," said editor-in-chief Kevin Delaney. Quartz has been recruiting a small number of veteran journalists for an overall news staff of around 25 people. The operation will feature tablet and mobile displays as well as a desktop website, qz.com. "There is an opportunity to do great journalism on a digital platform," Delaney, a former managing editor of The Wall Street Journal Online, told AFP."It's a great