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Tag Archives: Bank Failure

FDIC Taps Secondary Market to Sell $409M in Failed Banks’ Home Loans

The FDIC has amassed a large portfolio of nonperforming real estate loans seized from failed banks. While the agency has managed to broker deals with most acquiring institutions recently to absorb ""essentially all"" of the failed banks' loans, some transaction announcements still contain the language, ""the FDIC will retain the remaining assets for later disposition."" In order to fast-track the sale of these assets, the FDIC is turning to the secondary market, with an offering of $409 million of mortgage bonds from 17 bank closings expected to price mid-week.

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Regulators Shut Down Seven More Banks, as 2010 Failures Surpass 100

The number of U.S. banks to go under this year surpassed the 100-mark over the weekend, as regulators closed the doors on community-based lenders in Florida, Georgia, Kansas, Minnesota, Nevada, Oregon, and South Carolina. The seven closures announced late Friday pushed the 2010 failed-bank tally to 103. The pace of bank collapses this year has intensified as smaller lenders continue to book mounting losses from commercial real estate loans.

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CMBS Delinquencies Hit All-Time High: Trepp

Overdue loans in pools of commercial mortgage-backed securities (CMBS) climbed to 6.49 percent in January, according to a report issued this week by Trepp LLC, a New York-based company that tracks the commercial real estate market. That figure is up 42 basis points from the 6.07 percent delinquency rate in December, and Trepp says it's the highest delinquency level in the history of the CMBS industry.

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