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Tag Archives: FDIC

Mission Capital to Advise on $57.6 Million Loan Sale for FDIC

New York-based real estate capital markets solutions firm Mission Capital Advisors has announced that the Federal Deposit Insurance Corporation (FDIC) has retained the firm's Commercial Loan Sales and Trading Group as the loan sale advisor on a diverse portfolio of loans with an aggregate unpaid principal balance of $57.6 million.

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Judge Rules JPMorgan Chase Is Not Responsible For WaMu’s Pre-September 2008 Liabilities

With the ruling, Judge Rosemary Collyer in the U.S. District Court for the District of Columbia settled a long-standing dispute over who is liable for facing the claims – JPMorgan has contended that the FDIC should be responsible because of its receivership of Washington Mutual, and the FDIC has countered that JPMorgan should pick up the bill because of its acquisition of Washington Mutual.

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Former FDIC Chair Chosen as President of Private Maryland College

Former Federal Deposit Insurance Corp. chair Sheila Bair has been announced as the new president of Washington College, a private liberal arts school in Maryland, according to an announcement from Washington College. Bair will be the 28th president overall and first female president of historic Washington College, which was founded in 1782.

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Government Agencies Issue Minimum Requirements for State-Run Appraisal Companies

Compliance by states that do have an AMC regulatory body begins one year from the day the new regulations go live, which would put the deadline at the beginning of Q3 2016, according to FHFA. Compliance means adopting minimum registration and supervisory protocols for AMCs, including those that are subsidiaries of federally insured depository institutions.

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Banks Ask Second Circuit Court to Dismiss FDIC’s Mortgage-Backed Securities Suit

At the heart of the FDIC's claim is that the banks misled Alabama-based Colonial Bank, an FDIC-insured institution, as to the quality of $300 million worth of mortgage-backed securities they sold to Colonial in the run-up to the financial crisis. As a result of the soured securities, Colonial suffered huge losses and went into receivership in 2009. FDIC sued the banks three years later in 2012, claiming the banks violated the Securities Act of 1933.

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