SECOND MORTGAGE
Loan Processors Sue Ace Mortgage Funding, Inc. for Overtime, According to Burr & Smith, LLP and Nichols Kaster & PR Newswire via Yahoo! Finance On December 6, 2006, loan processors hit Ace Mortgage Funding, Inc., and its successor Ace Mortgage Funding, LLC, with its second nationwide lawsuit for overtime pay in sixteen months. Genworth Financial Granted Mexico's First Mortgage Insurance License FinanzNachrichten RICHMOND, Va., Dec. 6 /PRNewswire-FirstCall/ -- Genworth Financial, ( Nachrichten ) Inc. has received the first authorization to incorporate a mortgage insurance company in Mexico. Canada October Building Permits Rise to Second-Highest Ever Bloomberg.com Dec. 6 (Bloomberg) -- Canadian building permits surged unexpectedly to the second-highest ever in October, led by multi- family houses and commercial buildings such as hotels and restaurants, government figures showed. Synechron Announces Strategic Solutions FrameworksTM For Mortgage Banking Industry Business Wire via Yahoo! Finance PISCATAWAY, N.J.----Synechron, a US-based software solutions and services provider in the mortgage industry, today announced the availability of two new Strategic Solutions Frameworks for the mortgage banking industry. What is a PiggyBack? Kewanee Star Courier (ARA) - To understand what a "piggyback" loan is, you must first know what a second mortgage is. A second mortgage is a loan with rights that are subordinate to a first mortgage. Culp Announces Second Quarter Results for Fiscal 2007 Business Wire via Yahoo! Finance HIGH POINT, N.C.----Culp, Inc. today reported financial and operating results for the fiscal 2007 second quarter and six months ended October 29, 2006. Fannie Mae erases $6.3 billion in profit AP via Yahoo! News Fannie Mae erased $6.3 billion in profit in a long-awaited restatement Wednesday capping the accounting scandal that stunned financial markets and brought the ouster of top executives and a record fine against the government-sponsored mortgage leader. Manatron Announces Fiscal 2007 Second Quarter Earnings Conference Call PR Newswire via Yahoo! Finance Manatron, Inc. a leading provider of software products and services for state and local governments, including its Government Revenue Management® software, announced today that it will have a conference call regarding its fiscal 2007 second quarter financial results, which ended on October 31, 2006. Jobs data raise hopes for payrolls boost Reuters via Yahoo! News A spike in private-sector jobs in November tentatively raised hopes of improvement in the U.S. labor market on Wednesday while a jump in mortgage applications offered some light in the dimming housing sector. Refinancing won't stop debt troubles The Courier News D ear Debt Adviser: We are in a situation where we owe $250,000 on our mortgage and $88,000 on our second mortgage. We also have $30,000 in credit card debt and owe $37,000 on our car. Plus we are paying college bills. We bring home $7,500 per month, but now are behind and can't seem to see light. Would it be in our best interest to refinance the whole amount into a mortgage?
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