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  1. Four arrested over mortgage fraud

    Posted Jul 12th 2006, 12:00am by Agnes Lam, Clifford Lo

    ... for conspiracy to defraud in an operation against a mortgage fraud syndicate alleged to have cheated a bank out of $11 million in two separate mortgage applications. The arrests were made on Monday ... across the city and seized fake identity cards and papers including conveyancing documents. Mr Tsang said that to prevent similar mortgage fraud, banks should do more checking and that people ...

  2. Official with multiple home loans denies fraud

    Posted Mar 14th 2008, 12:00am by Staff Reporter

    ... September 2004 and January 2006. Prosecutor Flora Cheng told the judge that Au had dishonestly concealed his existing loans when he applied for the four mortgages. Ms Cheng said the first fraud ... Yvonne Tsui A chief immigration officer has denied fraudulently obtaining more than HK$6.5 million in mortgage loans from three banks. The District Court was told that Louis Au Chun-hung, ...

  3. Sad lesson of financial foolishness and greed

    Posted Feb 04th 2010, 12:00am by Staff Reporter

    ... themselves unable to repay their bondholders, and five could not pay their bank loans. Some have to do with mismanagement; others outright fraud. This sorry tale is a lesser known part ...

  4. Regulator cracks whip on banks over credit fraud

    Posted Jun 06th 2008, 12:00am by Tom Miller

    ... Regulatory Commission has sent a notice to commercial lenders telling them to strengthen risk management and beware 'the three fakes'- fake mortgages, fake prices and fake payments- ... increasingly wary about the outlook elsewhere, the regulator fears that banks will bear the brunt of risks taken by irresponsible developers. A minority of developers have fabricated mortgage contracts ...

  5. Questions begin to arise on mortgage loans quality

    Posted May 01st 2006, 12:00am by Staff Reporter

    ... loans through property developers which received financing from the same banks. The practice exposed banks to widespread fraud in which developers used fake mortgages to illegally obtain funds. Last spring, a 644 million yuan mortgage fraud of this nature was uncovered at the Beijing branch of Bank of China, the nation's second-largest commercial bank. The new system is not fool ...

  6. Smart Money

    Posted Nov 28th 2011, 12:00am

    ... fraud, this site provides resources for your strategy. It not only aggregates announcements and releases breaking news about regulatory enforcement against Chinese firms, but also provides ... a succinct, quick and accurate resource for keeping up with these frauds, this site is direct and fearless. www.creditwritedowns.com The debt crisis deserves its own specialised coverage. This news ...

  7. Easier data access cuts costs, says HKMC

    Posted Aug 13th 2007, 12:00am by Staff Reporter

    ... Maria Chan Hong Kong homebuyers may cut the cost of top-up insurance to cover mortgage loans exceeding 70 per cent of the purchase price of their homes if they let the government-owned insurance provider, the Hong Kong Mortgage Corp, check their credit records. Only banks may access the data kept by TransUnion Asia, operator of the personal positive credit data bureau. Privacy ...

  8. Business - Banking & Finance

    Bank robbers out in the open

    Posted Aug 15th 2012, 12:00am by Kevin Rafferty

    ... companies. Like mafia soldiers, mortgage brokers and originators were expected to commit or abet fraud, violate sound underwriting practices, and ignore or undermine consumer protection ... class." To objections that that's nothing like the way the modern financial sector is organised, he points out some uncomfortable similarities. "In residential-mortgage ...

  9. Scam exposed as lending is tightened

    Posted Apr 03rd 2005, 12:00am by Staff Reporter

    ... by two lawyers- real-estate company Beijing Huayunda pulled off one of the biggest mortgage-loan frauds on the mainland. Mainland bank officials and regulators have repeatedly vowed to tighten ... Shi Ting Fearing a property bubble, mainland regulators have curbed banks' mortgage business The latest Bank of China loan scandal has come to light at a time when the central ...

  10. Borrowing heavily on history... and learning nothing from it

    Posted Feb 17th 2007, 12:00am by Alex Lo

    ... of a borrower's fraud, bankruptcy or delinquency. So, a finance ignoramus, I finally realised this is what my HSBC investment had bravely gotten into, not the vanilla mortgages Hongkongers talk about when ... property market over the weekend is highly instructive and makes me glad we live in risk-averse Hong Kong, at least when it comes to esoteric doomsday mortgage products. It seems when regular folks ...




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