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...%{=FONT-STYLE: italic}Mortgage Daily% said. Through October 10, a total of 15 banks insured by the ""Federal Deposit Insurance Corporation (FDIC)"":http://www.fdic.gov/bank/individual/failed/banklist.html have failed this year. Also on the rise are acquisitions....
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Two Midwest Banks Shuttered, First in States Since 2002
...off by the ""Federal Deposit Insurance Corporation"":http://www.fdic.gov (FDIC). Main Street Bank, with $98 million in assets and $86 million in deposits, was shut down by the Michigan Office of Financial...
Read More »Radian Launches New Servicer Advocacy Group
Philadelphia-based ""Radian Guaranty"":http://www.radian.biz, the mortgage insurance subsidiary of ""Radian Group Inc."":http://www.radian.biz, announced this week that it has established the Servicer Advocacy Group, a new program aimed at reducing foreclosures, mitigating...
Read More »Government Officials Announce Major Steps to Prop Up Financial Market
In a ""joint statement"":http://www.treas.gov/press/releases/hp1206.htm made this morning by ""Treasury"":http://www.treasury.gov Secretary Henry M. Paulson, ""Federal Reserve"":http://www.federalreserve.gov Chairman Ben Bernanke, and ""Federal Deposit Insurance Corporation"":http://www.fdic.gov (FDIC) Chairman Sheila C. Bair, the federal...
Read More »Kashkari Outlines Troubled Asset Purchase Program
...of loans to purchase first, how to value them, and which purchase mechanism to use. %{=font-weight: bold;}Insurance Program% The Treasury is establishing a program to insure troubled assets, MBS as...
Read More »Wells Fargo Wins Battle For Wachovia
...facilitated and supported by the ""Federal Deposit Insurance Corporation"":http://www.fdic.gov (FDIC), in which Citi would have acquired only Wachovia's banking assets for $2.1 billion. According to Citi officials, Wachovia would have...
Read More »Wachovia, Citi, Wells Agree to Suspend Litigation
...that Wachovia would have collapsed on September 30 without the agreement facilitated by the ""Federal Deposit Insurance Corporation"":http://www.fdic.gov (FDIC) for Citi to acquire Wachovia's banking assets. All this follows efforts...
Read More »FDIC Proposes Fee Hike
The ""Federal Deposit Insurance Corporation"":http://www.fdic.gov (FDIC) announced today that it intends to double the rates banks pay for deposit insurance. The fee hike is part of the agency's proposed restoration...
Read More »Will Fannie, Freddie Take Part in $700B Rescue?
...insurers and banks who offered credit default swaps (CDS), or insurance against debt default, on the two enterprises will be determined today in one of the biggest financial auctions ever....
Read More »BofA Settles Countrywide Lawsuits with $8.4B Loan Modification Program
...to sustained [COLUMN_BREAK] homeownership,"" said Barbara Desoer, president, Bank of America Mortgage, Home Equity and Insurance Services. The new program applies to Countrywide mortgages originated prior to December 31, 2007,...
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