...the failed Wheatland Bank of Naperville, Illinois. The nation's latest bank failure, Ravenswood, is expected to cost the FDIC's deposit insurance fund $68.1 million. Illinois has been a hot spot...
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Fannie Mae Closes HomeSaver Advance Program
...loans to delinquent homeowners of up to $15,000 to cure arrearages of principal, interest, taxes, insurance, and other advances and fees. The loan was payable over 15 years at a...
Read More »Bear Stearns Portfolio Puts New York Fed in Foreclosure Quandary
...that require originators to repurchase ineligible loans,"" from its Bear Stearns portfolio, as well as the portfolio the central bank took over from insurance giant American International Group (AIG). In...
Read More »FDIC Senior Adviser to the Chairman will Leave This Month
Joseph A. Jiampietro, senior adviser to "" Federal Deposit Insurance Corporation"":http://www.fdic.gov/ (FDIC) chairman Sheila C. Bair will leave the FDIC on August 13. [IMAGE] ""Joe has given the FDIC invaluable...
Read More »Congress Passes Bill Increasing FHA Premiums
...mortgage insurance three-fold, from 0.55 percent to 1.55 percent. On April 5th, FHA raised borrowers’ up-front mortgage insurance premiums from 1.75 percent to 2.25 percent â€" a move that did...
Read More »Commercial Real Estate Recovery Dependent on Re-priced Assets: Report
...Riggs, the process will be very selective, with some banks and insurance companies taking back properties and leaving them on the balance sheet. He said these properties will be taken...
Read More »FHA’s Capital Reserves Fall as Agency Prepares for Higher Claims
...a shuffling of funds. FHA moved $9.8 billion from its capital reserves to its ‘financing account,' the fund used to cover insurance claim payouts for loan defaults and losses within...
Read More »Suspicious Activity Related to Mortgage Fraud on the Rise: FinCEN
...mortgage market businesses other than mortgage lenders. FinCEN said this was the result of mortgage loan purchasers and providers of mortgage insurance, certificate insurance, or similar credit enhancements taking an...
Read More »First American’s Q2 Earnings Up 18% Over Last Year
...title insurance and settlement company represents an 18 percent increase compared to a year earlier, when First American reported earnings of $28.6 million. The current quarter results include net realized...
Read More »Five More Community-Based Lenders Shut Down by Regulators
...of Coastal Community Bank's assets. [COLUMN_BREAK] The FDIC estimates that the cost to its insurance fund will be $16.2 million for Bayside Savings Bank's failure and $94.5 million for Coastal...
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