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Special Report: Hidden Peril Awaits China's Banks as Property Binge Fuels Mortgage Fraud Frenzy

U.S. News

The appeals court, too, found that the two women had committed fraud. But it also accepted Zhu's argument that she was entitled to her share of the gains from the scheme. The court ordered Lei to pay Zhu the amount they had fraudulently extracted from the bank - despite acknowledging in its ruling that the pair had engaged in "illegal behavior." Lei's lawyer said she complied with the ruling. The Bank of China did not respond to questions from Reuters about the case or allegations of widespread mortgage fraud in China.


Man Gets 5 Years for Operating $13 Million Mortgage Fraud

U.S. News

Barnard was one of two owners of Capital Financial Mortgage Corporation. Between 2005 and 2013 he defrauded banks by using money he borrowed for his personal use instead of funding loans for borrowers or paying off borrowers' existing mortgages.


Average US Mortgage Rates Edge Up; 30-Year at 4.53 Percent

U.S. News

Long-term U.S. mortgage rates edged higher this week, marking their first increase since early June. Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages ticked up to 4.53 percent from 4.52 percent a week earlier.


Average US Mortgage Rates Edge Up; 30-Year at 4.54 Percent

U.S. News

Long-term U.S. mortgage rates edged up slightly this week, reaching their highest levels since late June. Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages rose to 4.54 percent from 4.52 percent last week.


Rate on 30-Year Mortgages Falls to 3.92 Percent

U.S. News

The rate on benchmark 30-year, fixed-rate mortgages slipped this week to 3.92 percent from 3.95 percent last week. But the 15-year, fixed-rate mortgage, popular among homeowners seeking to refinance, blipped up to 3.32 percent from 3.31 percent.