Commercial banks and savings institutions with FDIC insurance have seen a sizable increase in profitability over the last year according to the FDIC . The 7,760 banks that reported to the FDIC stated an aggregate profit of $14.5 billion in the third quarter. This is an increase of $12.5 billion from...
Today is Friday, the day of the week that smaller "on the bubble" banks dread most. What happens to the delinquent loans that the FDIC and its partner banks assume? They are sold - the most recent example being the sale of a 40% equity interest in a limited liability company (LLC) created to hold assets...
My mother never told me to become a lawyer. Wise advice or not, attorneys have their hands (and billing records) full of mortgage-related issues. Yesterday California filed a lawsuit against Fannie, Freddie, and the FHFA over their opposition to a home energy-improvement program backed by the Obama administration...
While she stopped just short of the mark, Federal Deposit Insurance Corporation Chairperson Sheila C. Bair came close to suggesting Monday that the government put less emphasis on home ownership in favor of promoting rental housing. This was one of three recommendations for putting the mortgage industry...
If you've never seen footage of an actual landslide (and I hadn't), this is the stuff of nightmares: WOW Do people change over time? Of course they do. Do companies? They do as well. Coca Cola Inc., for example, doesn't just produce Coke. They own Gatorade, various water companies, bottling...
Sorry the commentary is a little late this morning, but I was out late celebrating. Yesterday afternoon I heard an ad on the radio saying that all the credit card debt I ran up last year buying a flat screen, ATV, and new appliances was not my fault! The ad said that the credit card company was at fault...
There is the story of a pastor who got up one Sunday and announced to his congregation, "I have good news and bad news. The good news is we have enough money to pay for our new building program. The bad news is...it's still out there in your pockets." Apparently the Fed thinks that we have...
Do you live in a flood plain, or have borrowers that do? Be forewarned that the Senate adjourned Friday without extending the National Flood Insurance Program . Language that would have kept the program in place until April 30 was part of a more comprehensive House bill that extended a variety of federal...
Overwhelmed managing your 40-50 employees? Here's a look at the number of employees at the biggest banks. A few others are BB&T (32,809), Suntrust (28,015), Comerica (9,385), City National (Los Angeles, 2,891), Sterling Financial (Spokane, 2,601), Umpqua (1,840), Capitol Bancorp (Michigan 1,345...
02/24/10 The Federal Deposit Insurance Corp. said the number of distressed U.S. banks climbed to a 16-year peak.