From California AG Jerry Brown: Brown Orders Mortgage Foreclosure Consultants to Post $100,000 Bond or Face Prosecution (ht Matt at O.C. Register ) Threatening possible criminal and civil prosecution, Attorney General Edmund G. Brown Jr. today ordered 386 mortgage foreclosure … Read More
From the WSJ: Feeling Roomy, J.P. Morgan Shops Its Space (ht BR) J.P. Morgan Chase & Co. is marketing 23 office properties … with a combined 7.1 million square feet of space, includes four notable towers: One Chase Manhattan Plaza, … Read More
This is an unofficial list of Problem Banks. The list is compiled from regulator press releases or from public news sources (see Enforcement Action Type link for source). The FDIC data is released monthly with a delay - the most … Read More
From Costar: Post Office Looking at Consolidation of 3,243 of its 4,851 Largest Branches and Stations (ht John) The Postal Service sent a notice to American Postal Workers Union executives this summer that it was considering consolidation options in every … Read More
Bair’s Cash for Clunkers Hasn’t run out of money Four traded so far. by Soylent Green is People From the FDIC : Herring Bank, Amarillo, Texas, Assumes All of the Deposits of First State Bank of Altus, Altus, Oklahoma First … Read More
And now for something a little different… I recently read a fantastic article by Paul Graham entitled Maker’s Schedule, Manager’s Schedule , in which Graham outlines that people who “make” things run by a much different work schedule than those … Read More
Fed Chairman Ben Bernanke kicks off his reappointment tour with a town hall meeting today in Kansas City, Mo. Jim Lehrer will host. From Don Lee at the LA Times: Chairman Ben Bernanke confronts challenges to Federal Reserve’s record With … Read More
One of our clients is an LO here in Atlanta. Let’s call him Bob. Bob is what I consider to be a “low cost provider”. He gives his borrowers very aggressive pricing. He’s not the greatest customer service guy I’ve … Read More
Note: Credit Default Swap (CDS) is an insurance contract for a credit instrument. A naked CDS is when someone buys insurance for an underlying asset that they do not own (like buying fire insurance on a neighbor’s house). A put … Read More
The Orange County District Attorney has expanded efforts to combat foreclosure rescue scams and other real estate fraud cases, as the worst housing downturn in decades results in thousands of potential victims. Elizabeth Henderson, assistant DA, said 30% of the … Read More