by MBJ Staff Published: October 26,2011
Tags: bankinf and finance, Banks, expansions, financial institutions, homeowners, homes, houses, loans, mergers and acquisitions, mortgages, real estate, residences
FLOWOOD — Magnolia State Bank has opened its new location in Flowood, and has completed the acquisition of Advantage Mortgage Corp. The new mortgage division is set to open Nov. 1 as Advantage Mortgage, A Division of Magnolia State Bank. The office is located at 437 Katherine Drive and will house seven employees. The location [...] [...]
by Associated Press Published: October 13,2011
Tags: banking and finance, Banks, economy, foreclosures, home ownership, homes, houses, loans, mortgages, real estate, realty, residences
ACROSS MISSISSIPPI — Nearly 600 Mississippi homeowners reached the end of the line during the third quarter, losing their homes to foreclosure. That’s according to Irvine, Calif.-based RealtyTrac, which tracks foreclosure actions nationwide. RealtyTrac said 1,069 properties were targeted for some sort of foreclosure action from July through September. Of those, lending institutions took back [...] [...]
ACROSS MISSISSIPPI — The number of Mississippi homes being sold in some stage of foreclosure has dropped sharply over the past year. Irvine, Calif.-based RealtyTrac said 99 foreclosed homes were sold in the state in the April-through-June period at an average price of $145,331. That represented a 20.7 percent discount from homes that were not [...] [...]
JACKSON and GULF COAST — The Jackson metropolitan area saw a higher year-over-year rate in the number of foreclosure actions taken against homeowners during the first six months of 2010. In the meantime, Gulfport-Biloxi recorded a sharp drop. Irvine, Calif.-based RealtyTrac said that Jackson had foreclosure-related filings against 608 properties from January through June. That [...] [...]
ACROSS MISSISSIPPI — The number of Mississippi residents threatened by the loss of their homes dropped during the second quarter. Irvine, Calif.-based RealtyTrac says that for the three months ending June 30, 840 properties were targeted by some foreclosure-related action. But for those it was largely the end of the line, as 514 were repossessed [...] [...]
JACKSON — A federal appeals court has upheld the bank fraud conviction of former Madison County real estate investor Earline Y. Rawls. Rawls was convicted last year in federal court in Jackson of three counts of bank fraud and one count of conspiracy. She was sentenced to 35 months in federal prison, five years on [...] [...]
OXFORD — U.S. home prices continue to show notable improvement in April. This is according to a report from FNC Inc. Despite broad economic and job market weakness, home prices have increased for the first time since the withdrawal of the homebuyer tax credits a year ago. Based on the latest data on non-distressed home [...] [...]
by Associated Press Published: June 22,2011
Tags: banking and finance, Banks, financial institutions, homes, houses, investing, investments, mortgages, real estate, settlement
Five states, including Mississippi, and federal regulators have reached a $200-million settlement with Morgan Keegan & Co. over allegations that its brokerage firm engaged in reckless business practices that led to an estimated $1.5 billion in losses to investors. William Hicks of the U.S. Securities and Exchange Commission announced the deal today. State regulators from [...] [...]
ACROSS MISSISSIPPI — Homes hit by foreclosure filings dropped sharply last month in Mississippi. Irvine, Calif.-based RealtyTrac says that 185 homes received some sort of foreclosure action in May. That’s down 48.8 percent from April and 48.3 percent from May 2010. But it was the end of the line for those homeowners. RealtyTrac says that [...] [...]
RIDGELAND — Former Ridgeland mortgage broker Mark Calhoun has been sentenced to 16 years and eight months in prison for mortgage fraud in a scheme that involved more than $10 million in fraudulent loans. Yesterday, U.S. District Judge Dan Jordan also sentenced Calhoun’s associates, J. Larry Kennedy, and son Keith Kennedy, who operated a mortgage [...] [...]
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