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Investor-Owned Mortgages Have High Re-Default Rates, Says Report
7 hours ago ago from Sustainability In Business
About half of all modified investor-owned mortgages, undertaken to help troubled borrowers and investors looking to cut losses, re-default within six months, according to a new quarterly report by federal bank regulators. These are loans that are sliced and diced and sold to investors in the form of securities. That compares with a 25 percent re-default rate for modified loans held in-house at banks, according to data as of Sept. 30. ...
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15 hours ago ago from Welcome To Jim Sinclair's MineSet
Dear CIGAs, The Peanut Brittle Recovery: Jim Sinclair's Commentary Thou shalt not Lie Moses Tablets. Wall Street's 10 Biggest Lies of 2009 Say goodbye to 2009, the worst economic year since the Great Depression. Say hello to the billionaire bailout society in which the super-rich gamble, lose and get bailed out by the rest of us. To save the system from total collapse we poured trillions of ...
Related contentNew Century Bank’s Pantazelos staying put, after all
21 hours ago ago from Chicago Multi Family Real Estate
(Crain’s) — Faye T. Pantazelos is keeping her titles as president and CEO of struggling New Century Bank. The bank’s board in recent weeks opted to stay the course with its current executive team after veteran Chicago banker Jim Hubbard, who now is chief lending officer at New Century, ...
Related contentGood Things About A Good Bank | Financial Trend Blog
2 hours ago ago from Financial Trend Blog
Financial Trend Blog All Thing About Financial Planning Tips And Legal Articles For You. Home Contact Privacy Policy Links Register Blog Feed Add To Technorati Search Friend Links Debt Management ............................. Ads Tags arrears bad credit bad credit loans bankruptcy borrowers budget collateral credit bureaus credit card debt ...
Related contentRegulators shut banks in 5 states
14 hours ago ago from Finance counsels
WASHINGTON — Regulators on Friday shut down seven banks in six states, including Independent Bankers' Bank, based in Springfield, Ill., and two large banks in California. Regulators so far this year have shut down 140 banks. The Federal Deposit Insurance Corp. on Friday took over the seven newly shuttered banks. Independent Bankers' Bank — a sort of wholesale bank that provided services to 450 client banks in four states — ...
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Asia Investment Bank Fees Rise 53%
3 hours ago ago from Wall Street Journal
BY AMY OR HONG KONG Global investment banks saw revenue from their Asia-Pacific businesses rise 53% this year amid a wave of bank recapitalizations, underscoring the region's promise for a still-recovering industry. Asic Pacific core investment banking activities generated $10.66 billion in fees in 2009, according to data provided by Dealogic, making up 20% of the global feel pool of banks from 14% in 2008. The rise was due to ...
Related contentCommunity Bankers Meet With Obama
20 hours ago ago from Wall Street Journal
WASHINGTON Community bankers got their first exclusive meeting Tuesday with President Barack Obama amid an intensifying fight within the industry over legislation that would tighten federal financial regulation. Mr. Obama used the White House parley with executives from smaller banks to reiterate his push for bankers to do more lending to small businesses. "The pendulum may have swung too far in the direction of not lending," Mr. Obama ...
Related contentObama urges small banks to lend
22 hours ago ago from Washington Post - Business
President Obama met with the heads of 12 community banks Tuesday morning to discuss the need for increased lending to small businesses, part of a broader effort by the White House to underscore its concern that a lack of lending is impeding economic recovery. The gathering lacked the confrontational trappings of a similar meeting last week between the president and the heads of the nation's largest banks. This time, the administration has ...
Related contentThe Fate Of A Subprime Loan: Can This Man Hold On To His Mortgage? (VIDEO)
21 hours ago ago from Huffington Post
(Second of two articles about the roots of the subprime lending bubble . ) With the housing boom still in full force in early 2006, Long Beach Mortgage Co., one of the nation's biggest subprime lenders, sent its eager Wall Street investors yet another package containing thousands of new home loans. Among them was a mortgage for a modest, two-bedroom home on a quiet suburban street outside Washington, D.C. - taken out by a borrower who ...
Related contentObama Tries to Rally Smaller Lenders
16 hours ago ago from The New York Times
WASHINGTON (Reuters) President Obama met with bankers from smaller community banks on Tuesday to urge them to increase lending to small businesses and vowed to help the process by cutting regulatory red tape. The pendulum might have swung too far in the direction of not lending, Mr. Obama told reporters after meeting with 12 bankers from across the country. If we can get that balance right, there are businesses and communities out there ...
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