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  • 2:06 PM » The Slow March to End Securitization Inches Forward
    Published Thu, Sep 04 2008 2:06 PM by feeds.feedburner.com
    In a feature in the very first issue of HousingWire Magazine, out this week, 15-year MBS/ABS veteran Linda Lowell tackles the question that’s on most mortgage participants mind: is mortgage securitization dead? The complex answer to this question may very well lie with the Financial Accounting Standards Board and its coming proposals that will modify [...]
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 1:51 PM » Another Reason The Fed Won't Raise Interest Rates
    Published Thu, Sep 04 2008 1:51 PM by Seeking Alpha
    submits: As Dwight Cass reports in a recent piece on breakingviews.com, Fitch Ratings is calling for a doubling in U.S. mortgage delinquencies from current levels. If they are right, that would likely mean continuing downward pressures on U.S. housing prices.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 1:19 PM » Mortgage Resets: COFI Numbers Improving
    Published Thu, Sep 04 2008 1:19 PM by Seeking Alpha
    submits: Countless graphics have been floating around the media outlining the large quantity of adjustable rate mortgage [ARM] rate resets that are anticipated in the coming months and years. (For some excellent background and analysis on the subject of ARM resets, I encourage readers to investigate what has to say on the subject.)
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 10:09 AM » Banking and Insurance Leaders to Address ABIA Annual Conference in Phoenix
    Published Thu, Sep 04 2008 10:09 AM by American Bankers Assoc.
    Washington, Sept. 4 - Bank-insurance professionals, lawmakers and regulators will meet to discuss the latest trends in the growing bank-based insurance industry.
    Click Here to Read the Full Article

    Source: American Bankers Assoc.
  • 10:09 AM » Toll Brothers loses $29M
    Published Thu, Sep 04 2008 10:09 AM by feeds.bizjournals.com
    Luxury builder Toll Brothers Inc. recorded a net loss for its third quarter, citing continued soft demand in many of its markets as well as write-downs. (TOL)
    Click Here to Read the Full Article

    Source: feeds.bizjournals.com
  • 10:09 AM » Ocwen: Subprime mortgage delinquencies down
    Published Thu, Sep 04 2008 10:09 AM by feeds.bizjournals.com
    Ocwen Financial Corp. reported Thursday that delinquencies on the subprime mortgages it handles flattened or declined this summer, in large part due to its loan modification program.
    Click Here to Read the Full Article

    Source: feeds.bizjournals.com
  • 10:09 AM » Tree Mansion - NOT For Sale
    Published Thu, Sep 04 2008 10:09 AM by feeds.feedburner.com
    One family is living the high life, up in the trees, after super dad John Peterson built his kids a two story, 200 sq. ft, fantasy tree house in their backyard. While Dad won’t confess what he spent on the tree fort/house/mansion, it couldn’t have been cheap. The tree house is fully loaded with windows, doors, electricity, and even a spiral staircase. No Zestimate yet on this tree house, but there are still some affordable However elaborate, this indulgent spend is typical of Onalaskan residents, many of whom are “” with cash, kids, and a childhood dream up their sleeve.
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 10:09 AM » Celebrity Roundup: De Mille, Sassoon, Bosley, Cleese
    Published Thu, Sep 04 2008 10:09 AM by feeds.feedburner.com
    From to the filmmaker behind epic movies such as and , we bring you that once belonged to some classic Hollywood types. For Sale: $23,950,000 See more Known as the , this magnificent home, located on DeMille Drive in the Los Feliz area, was once owned by one of Hollywood’s great filmmakers — yup, you got it — . Yo Mama at of this 7,000+ sq ft home, which DeMille bought in 1916 for $27,893. According to , three years later and used it as an office, screening room, and guest quarters. He rented it out for a time to actor . For sale: $19,500,000 See more is selling his home, known as the “Singleton Residence,” which the listing describes as “one of the most famous architectural sites in America, comprising five plus acres on top of Bel Air.” If you don’t know the relevance of the name Singleton, you’re not alone. and co-founder of Teledyne, a conglomerate that had diverse businesses such as specialty metals, unmanned aircraft, insurance, swimming pool heaters, and Water Pik shower heads and tooth cleaners. Yup — this made the company $5 billion at its peak. (bless Yo Mama’s hard-working heart), in 1959, Singleton commissioned to design a contemporary home, which was controversially renovated by Sassoon. Here are some fascinating by Luxist. See more See more In what looks to be a reason to downsize, Happy Days actor Tom Bosley (“Mr. Cunningham”) sold his 3,772-sq.-ft. Beverly Hills home (top photo) last October for $2,750,000 and then turned around and bought a 3,288-sq.-ft. home on a golf course in Rancho Mirage, CA for $950,000. OK, it’s not much of a square footage downsize, but Bosley picked up a bit of coin from the Beverly Hills sale. [Source: ] For sale: $10,750,000 See more Tucked along the beach in , is the home owned by , known as one of the six creators/actors in the collection of TV shows and movies. Go on a when he’s here. According to , “…Cleese purchased the house in 1994 for just over $1 million, and briefly had owned the house next door at , which he sold...
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 10:09 AM » Mortgages: U.S. mortgage rates fall: Freddie Mac
    Published Thu, Sep 04 2008 10:09 AM by Market Watch
    Mortgage rates moved lower this week after indications that consumer spending could slow, Freddie Mac’s chief economist said on Thursday.
  • 10:09 AM » MasterCard: Driven by Global Growth
    Published Thu, Sep 04 2008 10:09 AM by Seeking Alpha
    submits: The market saw a major change yesterday. The eight dollar pull back in the price of oil looks to have at least set its price to trade between the $100 and $110 mark. This is only speculation as a new trading pattern has not established itself. If we were to listen to many of the energy experts, as with T. Boone Pickens, the $100 bottom is almost here. With that said, it should stimulate some growth in the US stock market as the dollar should strengthen somewhat and although there is a global slowdown, generally speaking US stocks should see upside going forward. It is even much more bearish for oil since this happened during hurricane season. One of the best stocks in the stock universe is MasterCard (MA). I made a call on MA on theupdown.com six months ago and have seen a pop of 25.71%. I like the stock here as it has seen a sell-off since its highs of $320 a share.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 10:09 AM » Credit crisis hits home for John Paulson painlessly
    Published Thu, Sep 04 2008 10:09 AM by www.fiercefinance.com
    Shed no tears for hedge fund manager John Paulson. He's the magic man right now. After his phenomenal 2007, during which his bets on the subprime collapse earned him more than a $1 billion, he has continued his winning ways in 2008. Except when it comes to South Hampton real estate. His 6,800-square-foot home languished on the market for four months at $19.5 million. Now Paulson is bowing to reality, cutting the price to $16.9 million, according to cityfile . Paulson bought it for $12.75 million in 2006. So if he can get a deal, he's still in the black. He apparently has purchased a nearby pad for $41.3 million. For more: - here's the with pictures Related Articles:
    Click Here to Read the Full Article

    Source: www.fiercefinance.com
  • 10:09 AM » It's a buyer's market: Merrill's trying to sell bad loans to the Koreans but price is a sticking point
    Published Thu, Sep 04 2008 10:09 AM by wallstfolly.typepad.com
    They may have to bite harder on the bullet: Merrill Lynch is trying to sell more of their seemingly endless supply of bad loans -- a "significant" amount -- this time to Korea Asset Management Corp., but the bid -...
    Click Here to Read the Full Article

    Source: wallstfolly.typepad.com
  • 10:09 AM » ECB, Bank of England don't touch rates
    Published Thu, Sep 04 2008 10:09 AM by CNN
    Read full story for latest details.
  • 10:09 AM » Pimco: Treasury needed to stop asset deflation
    Published Thu, Sep 04 2008 10:09 AM by Reuters
    NEW YORK (Reuters) - To stop a sell-off of debt and other assets, the U.S. government will have to bring in new policies to open up the Treasury Department's balance sheet, said the manager of the world's biggest bond fund on Thursday.
  • 10:09 AM » Credit Suisse: Housing Bottom More Than a Year Away
    Published Thu, Sep 04 2008 10:09 AM by Seeking Alpha
    submits: Credit Suisse recently predicted that the housing market won't bottom out until the ratio of median housing prices to family income returns to historical levels: (From the WSJ): "One of the key comparisons was the NAR median existing-home price (seasonally adjusted by Credit Suisse) to median family income. The ratio maintained a relatively narrow range from 1981 to 2000, when it started to explode. Assuming that trends in prices and incomes remain constant, Credit Suisse forecasts that home price will return to the historical range some time late next year.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 10:04 AM » Stated Income Loans are still available at Emerald Pacific Mortgage
    Published Thu, Sep 04 2008 10:04 AM by hbmortgageoracle.wordpress.com
    With all of the recent guideline changes with the Mortgage Industry it is nice to know that at least one company is still structuring Stated Income home mortgages. Mike Mortrud of Emerald Pacific Mortgage of Huntington Beach tells me that they offer several stated loan programs. If you are a self employed borrower in need of a new mortgage then you do have some options. Mortrud can be reached at 714-596-5410 or email at if you should need his services.
    Click Here to Read the Full Article

    Source: hbmortgageoracle.wordpress.com
  • 10:04 AM » Study: Extreme Overvaluation Wiped Out by Housing Price Drops
    Published Thu, Sep 04 2008 10:04 AM by feeds.feedburner.com
    Steep housing price declines have largely wiped out widespread extreme overvaluation of residential real estate, according to a new study released Thursday morning. Global Insight, an economic forecasting and financial analysis firm, said its Q2 update of housing valuation analysis found that home prices continue to fall across the country but at a slower rate [...]
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 10:04 AM » Indictment Says Brokers Hid Mortgage Investments From Clients
    Published Thu, Sep 04 2008 10:04 AM by feeds.feedburner.com
    Two former Credit Suisse Group (CS: 45.70 -3.36%) brokers were indicted by a federal grand jury in Brooklyn on Wednesday, on charges that suggest the two men in question lied to investors over $1 billion in short-term investments. The Wall Street Journal reported Thursday that Julian Tzolov and Eric Butler are alleged to have put [...]
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 10:04 AM » Mortgage Rates Ease as Economy Regains Center Stage
    Published Thu, Sep 04 2008 10:04 AM by feeds.feedburner.com
    Mortgage rates drifted lower this week, as reports of broad economic weakness helped keep a lid on expectations of any near-term jump in interest rates. Freddie Mac (FRE: 5.23 -2.79%) said Thursday morning that its weekly survey of lenders found that the 30-year fixed-rate mortgage averaged 6.35 percent with an average 0.7 point for the [...]
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 10:04 AM » First Am Looks to Manage Vacant Property Registrations
    Published Thu, Sep 04 2008 10:04 AM by feeds.feedburner.com
    A complex and emerging set of local vacant property ordinances have become a real problem for servicers nationwide, as municipalities have turned towards vacant property registration policies as a way to both track vacant homes within a city’s bounds and to levy additional fees and fines on lenders. The fines are often designed to prevent [...]
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 10:04 AM » FINRA Sanctions Three Brokers Over CMO Sales
    Published Thu, Sep 04 2008 10:04 AM by feeds.feedburner.com
    Long-time HW readers may recall an earlier brouhaha over failed Orange County, Calif.-based brokerage Brookstreet Securities Corp., and regulators’ subsequent investigation into collateralized mortgage obligations, or CMOs; at the time, the Financial Industry Regulatory Authority said it was probing individual brokerages over suitability concerns tied to CMOs. That investigation yielded at least three culpable parties on [...]
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 10:04 AM » Declines from Peaks in Housing Show Big Disparity
    Published Thu, Sep 04 2008 10:04 AM by Seeking Alpha
    Hickey and Walters () submit: Below we highlight the percentage difference between current median home prices and the max median home prices seen in each of the twenty cities that S&P/Case-Shiller tracks. As shown, there is quite a big difference between the worst areas and the ones that have held up the best. Phoenix, Las Vegas, Miami and San Diego have all seen a median home price decline of more than 30% from their peaks. Los Angeles, Detroit, San Francisco and Tampa are in the second tier of declines between -25% and -30%. On the flip side, Charlotte, Dallas, Denver, Portland, Seattle and Atlanta are all down less than 10% from their peaks, while New York, Chicago and Boston are just over -10%. While the composite indices are down about 20%, there is a pretty big discrepancy in price declines depending on what area of the country you look at.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 10:04 AM » Mortgage Rates Dip Slightly
    Published Thu, Sep 04 2008 10:04 AM by www.thetruthaboutmortgage.com
    Mortgage rates continued their long journey through the doldrums, drifting slightly lower during the week, according to mortgage financier Freddie Mac. The average 30-year fixed-rate mortgage slid to 6.35 percent for the week ending September 4, down from 6.40 percent a week earlier and 6.46 percent a year ago. The 15-year fixed displayed even less movement, falling [...]
    Click Here to Read the Full Article

    Source: www.thetruthaboutmortgage.com
  • 9:47 AM » Commodity prices during the first half
    Published Thu, Sep 04 2008 9:47 AM by themessthatgreenspanmade.blogspot.com
    Prices for 24 commodities and five commodity indexes over the last two and a half years are shown in the table below (all prices are as of last Friday). Gains through six months of 2008 have, generally, already exceeded the gains from all of last year. Given what has happened over the last nine months, it's hard to imagine that energy prices actually fell in 2006, but they did. Of course, that had much to do with the late-2005 run-up following the Gulf Coast hurricanes. Natural gas prices, it seems, are making up for lost time this year. As groups, both precious metals and agricultural commodities have been remarkably consistent over the last three years and, as might be expected due to a slowdown in global economic growth, base metal price increases have moderated since the big gains of 2006. To learn more about investing in natural resources using commonly traded ETFs, stocks, and mutual funds, see this at . Or, sign up for a .
    Click Here to Read the Full Article

    Source: themessthatgreenspanmade.blogspot.com
  • 9:47 AM » Four Dozen Georgia Banks On Problem List
    Published Thu, Sep 04 2008 9:47 AM by feeds.feedburner.com
    The Atlanta Journal-Constitution is reporting . Georgia's banks top the nation in terms of concentration of loans to real estate developers and builders. Figures are for the mean construction and development loans as a percentage of banks' core capital as of March 2008, the latest numbers available. 1. Georgia 178% 2. Washington 169% 3. Arizona 168% 4. North Carolina 165% 5. Idaho 158% 6. South Carolina 142% 7. Oregon 141% 8. Florida 130% 9. Nevada 110% 10. Virginia 101% Source: Federal Deposit Insurance Corp. Nearly $1 out of every $5 on Georgia banks' loan books bankrolled homebuilders and real estate developers — by far the highest proportion in the state in at least 30 years, according to federal regulators' data. That is putting several banks in the state — and perhaps significantly more if economic conditions deteriorate — at greater risk of failing or being pushed into takeovers by healthier banks, some people in the industry say. "In Atlanta, this is the worst market we've had, ever," said Walt Moeling, a lawyer with Atlanta firm Powell Goldstein who has been representing local banking firms since 1968. "Everything went splat." Christopher Marinac, a banking analyst with Atlanta-based FIG Partners, said it's too soon to tell when the industry will hit bottom or how long recovery will take."I think there are going to be a lot of shotgun weddings [to rescue banks] that you're never going to read about," he said. Another misery measure: Industry insiders say there are now almost four dozen banks on Georgia's watch list for problem banks. Braswell, Georgia's banking commissioner, said the figure is in the "right ballpark," and has been rising. Still, he and other industry veterans say that while metro Atlanta has become a hot spot for problem banks, they do not expect the wholesale bank failures that swept through Texas and several other states during the savings-and-loan debacle. They say...
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 9:47 AM » Beleaguered banks
    Published Thu, Sep 04 2008 9:47 AM by www.ft.com
    Is another federal lifeline required? The Federal Deposit Insurance Corporation, backer of US bank accounts, needs a top-up
  • 9:47 AM » Credit union savings outpace lending
    Published Thu, Sep 04 2008 9:47 AM by feeds.bizjournals.com
    Membership at federally insured credit unions across the country grew 1 percent to 88 million members, with savings outpacing lending in the first six months of 2008, according to the .
    Click Here to Read the Full Article

    Source: feeds.bizjournals.com
  • 9:47 AM » Thornburg on its last legs?
    Published Thu, Sep 04 2008 9:47 AM by feeds.feedburner.com
    . The company’s CEO calls the situation “precarious” and they continue to try to fight off the effects of a $3.3 billion first quarter loss and a secondary market that’s all but vanished. Thornburg is classic proof that Bernanke’s containment theory was flawed at best and fraudulent at worst. Thornburg bought high-credit quality mortgages and got hammered by the credit crunch. Poor loan performance (many jumbo mortgages were mid-length adjustable rate mortgages between 5-10 years) coupled with investors heading for the aisles left the company awash in losses. From Forbes.com: “Our circumstances are somewhat precarious, to put it mildly,” Thornburg Chief Executive Larry Goldstone said on a conference call. Sante Fe-based Thornburg Mortgage reported earnings of $412.3 million, or 84 cents per share, vs. $78.1 million, or 66 cents per share, in the year-ago period. This is respectable considering the firm’s aggressive fund-raising tactics, which increased the number of outstanding shares to 484.6 million common shares in the 2008 quarter from 119.3 million in the 2007 quarter. … Thornburg, which specializes in originating and investing in jumbo mortgages that are worth more than $417,000, has been hurting since the middle of 2007 when the U.S. housing market began to sour. In June, the firm admitted that regulators are investigating whether the firm can continue (see “SEC Probes Sickly Thornburg”) after it posted a $3.3 billion first-quarter loss. Goldstone added that the mortgage securities market is not getting better, despite some speculation to the contrary.
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 9:47 AM » Mr. Mortgage: Jumbo-Prime Under Attack by the Raters - Big Banks Beware
    Published Thu, Sep 04 2008 9:47 AM by ml-implode.com
    More news for you on the Jumbo-Prime and Alt-A front. The recent flurry of action by the raters is almost too much to keep up with. In the past month, all three primary ratings agencies have torn apart the Jumbo Prime and Alt-A RMBS market. Now Moody’s is going one step further by stepping up scrutiny, which means more downgrades shortly, on ALL Jumbo Prime deals from 2006-2007.
    Click Here to Read the Full Article

    Source: ml-implode.com
  • 9:47 AM » Scandal over loose lending hits China bank CDB
    Published Thu, Sep 04 2008 9:47 AM by www.ft.com
    The state-owned lender, China Development Bank, that owns 3 per cent of Barclays Bank of the UK, extended billions of renminbi in illegal and irregular loans last year, according to a report issued by China's state auditor
  • 9:47 AM » HSBC says super-rich clients moving into cash
    Published Thu, Sep 04 2008 9:47 AM by Washington Post
    GENEVA (Reuters) - Many of the world's wealthiest people have moved their money out of stocks and bonds and into cash, the head of HSBC's (HSBA.L) Swiss private banking unit said on Monday.
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:47 AM » KDB confirms talks with Lehman, Korea bank shares fall
    Published Thu, Sep 04 2008 9:47 AM by Washington Post
    SEOUL (Reuters) - State-owned Korea Development Bank (KDB) confirmed on Tuesday it was in talks with Lehman Brothers over a possible joint investment in the U.S. bank with other Korean banks, sending local banking shares lower.
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:47 AM » Steve Waldman: "Inequality and the Credit Crisis"
    Published Thu, Sep 04 2008 9:47 AM by feeds.feedburner.com
    Steve Waldman has a great little post on how the end of the consumer credit bubble is going to expose rifts papered over by the illusion of rising living standards for all. In fact, average real wages have been stagnant since the mid-1970s; the gains in income have accrued entirely to those at the top of the food chain. Thomas Palley has made a with a different emphasis. He contends that policy-makers retreated from full employment as a goal, since it allows workers to demand higher wages, which in turn causes inflation. Reducing worker bargaining power led to disinflation, lower interest rates led to rising asset prices, which in combination with financial innovation, created an until-recently reinforcing cycle whereby rising asset prices funded consumption. Palley noted that that cycle was at its limits, and Waldman discusses the implications. My favorite section: Credit was the means by which we reconciled the social ideals of America with an economic reality that increasingly resembles a "banana republic". We are making a choice, in how we respond to this crisis, and so far I'd say we are making the wrong choice. We are bailing out creditors and going all personal-responsibility on debtors. We are coddling large institutions of prestige and power, despite their having made allocative errors that would put a Soviet 5-year plan to shame. We applaud the fact that "wage pressures are contained", protecting the macroeconomy of the wealthy from the microeconomy of the middle class. Go read it .
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 9:47 AM » Ed McMahon home buyer flakes out and it's back on the market
    Published Thu, Sep 04 2008 9:47 AM by wallstfolly.typepad.com
    HTML clipboard So much for happy endings. At least so far. The deal that Ed McMahon made to sell his house has collapsed, with the buyer pulling out. Turns out that the guy who outbid Donald Trump never ponied up...
    Click Here to Read the Full Article

    Source: wallstfolly.typepad.com
  • 9:47 AM » Blog: Mortgage Problems for the Self-Employed
    Published Thu, Sep 04 2008 9:47 AM by Business Week
    Click Here to Read the Full Article

    Source: Business Week
  • 9:47 AM » The Road to a Bailout They Don't Deserve
    Published Thu, Sep 04 2008 9:47 AM by Washington Post
    It's desperation time for the Big Three automakers. They are awash in gas-guzzling vehicles nobody wants to buy, bleeding red ink and running out of cash.
    Click Here to Read the Full Article

    Source: Washington Post
  • 9:47 AM » HSBC, China bank also interested in Lehman: report
    Published Thu, Sep 04 2008 9:47 AM by Reuters
    SEOUL (Reuters) - Europe's biggest bank HSBC Holdings and an unidentified Chinese bank are among potential buyers of Lehman Brothers, South Korea's Chosun Ilbo newspaper reported on Wednesday, citing a financial industry source.
  • 9:47 AM » Once in 100 Year Crisis?
    Published Thu, Sep 04 2008 9:47 AM by feeds.feedburner.com
    by Joe Average. "So thinks ex-Fed Chairman the “Maestro” Alan Greenspan. And he should know. After all, he was largely responsible for leading us to this point in time since from 1987 to 2006 he was at the helm of the world’s largest economy."
    Click Here to Read the Full Article

    Source: feeds.feedburner.com
  • 9:47 AM » First Horizon ups ’08 mortgage charge-off estimate by $100M
    Published Thu, Sep 04 2008 9:47 AM by feeds.bizjournals.com
    First Horizon National Corp. said late Tuesday it expects total charge-offs from bad loans to be $100 million above previous estimates for 2008. (FHN)
    Click Here to Read the Full Article

    Source: feeds.bizjournals.com
  • 9:47 AM » A Few Banks We Like: NTRS, USB, WFSL, SCHW, BOH
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: Integrity Bank, Alpharetta, Georgia, with $1.1 billion in total assets and $974.0 million in total deposits as of June 30, 2008, was closed today by the Georgia Department of Banking and Finance, and the Federal Deposit Insurance Corporation was named receiver. The FDIC Board of Directors today approved the assumption of all the deposits of Integrity Bank by Regions Bank, Birmingham, Alabama. All depositors of Integrity Bank, including those with deposits in excess of the FDIC's insurance limits, will automatically become depositors of Regions Bank for the full amount of their deposits, and they will continue to have uninterrupted access to their deposits. Depositors will continue to be insured with Regions Bank so there is no need for customers to change their banking relationship to retain their deposit insurance. FDIC, August 29, 2008 Several smaller bank closures occurred last week, including the transaction excerpted above. The people at the FDIC are doing their jobs in fine fashion, but where is Treasury Secretary Hank Paulson regarding the GSEs? We were kind of hoping for a press conference regarding the creation of a conservatorship for "Frannie Mae" on Friday, but its seems Paulson could not get there, to use bankster vernacular.
    Click Here to Read the Full Article

    Source: Seeking Alpha
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.05%
  • |
  • 15 Yr FRM 2.70%
  • |
  • Jumbo 30 Year Fixed 4.30%
MBS Prices:
  • 30YR FNMA 4.5 107-29 (-0-03)
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  • 30YR FNMA 5.0 109-08 (0-01)
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  • 30YR FNMA 5.5 110-09 (0-05)
Recent Housing Data:
  • Mortgage Apps 2.67%
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  • Refinance Index -0.23%
  • |
  • Purchase Index 8.61%