Regulators today seized two California banks with six branches in Orange County. Los Angeles-based First Federal Bank of California failed. Its 39 branches, including five in Orange County, and all its deposits are being turned over to OneWest Bank in … Read More

Latest in bad debt dumping from National Mortgage News: The Federal Deposit Insurance Corp. is contemplating securitizing at least $10 billion of delinquent and underperforming whole loans belonging to failed banks in the first quarter, according to investment banking sources … Read More

Bloomberg reports: The Federal Deposit Insurance Corp. barred the former controller of New Century Financial Corp., once the third-largest subprime lender, from working as a contractor for the agency after he was sued for alleged securities fraud, a person familiar … Read More

Time magazine named Fed Chief Ben Bernanke as Person of the Year 2009. Does he deserve it? Yes No View Results Post from: Mortgage Insider

Read more here - Did Bernanke save us all?

This could be one of the biggest bad-debt sales in history — Paul Muolo of National Mortgage News writes: Every so gingerly, Fannie Mae and Freddie Mac are beginning to contemplate selling their nonperforming mortgages — roughly $250 billion worth … Read More

Pacific Coast National Bank of San Clemente was closed today by federal regulators. Customers with money in Pacific Coast need not fear for their deposits — they will all be assumed by Sunwest Bank in Tustin. The two branches of … Read More

The government’s mortgage insurance program, which has become a key pillar of the housing recovery, reported this week a steep drop in cash reserves, increasing the likelihood of a taxpayer funded bailout. I’m a day late to this news, but … Read More

First Dupage Bank of Westmont, Illinois, was closed today, becoming the 106th failure of an FDIC-insured lender this year. Read more HERE. Other banks that failed today are: Riverview Community Bank of Otsego, Minnesota. Read more HERE. American United Bank … Read More

Tad Lowrey, chief executive of CapitalSource Bank in Los Angeles, said the Federal Deposit Insurance Corp.’s plan to make banks prepay $45 billion in fees is an ingenious way for government to borrow from banks and have the cash necessary … Read More

The Federal Deposit Insurance Corp., which protects consumer deposits at banks, said in a much anticipated release: The Board of Directors of the Federal Deposit Insurance Corporation today adopted a Notice of Proposed Rulemaking (NPR) that would require insured institutions … Read More