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MortgageDaily.com - Mortgage News Headlines Fri, 26 Feb 2010 09:00:00 GMT
  • Friday's Bloodbath Yields 8 Casualties (Mon, 22 Mar 2010 12:00 GMT)  Eight federally insured financial institutions were closed on Friday.

    The closings included three banks that were seized by the Georgia Department of Banking and Finance, while the Utah Department of Financial Institutions, the Alabama State Banking Department and the Minnesota Department of Commerce each closed a bank.

    In addition the Office of the Comptroller of the Currency seized and Ohio bank and the National Credit Union Administration placed a California credit union in conservatorship.
  • Corporate Bankruptcy Journal (Mon., 22 Mar 2010 12:00 GMT)  A bankruptcy judge dismissed many of the counts against most defendants outlined in a $1 billion lawsuit against former First Magnus Financial Corp. executives.

    The former president and chief executive officer of Thornburg Mortgage Inc. along with its former chief financial officer were among seven defendants named in a lawsuit filed by the Chapter 11 trustee in U.S. Bankruptcy Court.

    ADFITECH Inc. said its Second Amended Chapter 11 Plan of Reorganization was confirmed by the U.S. Bankruptcy Court for the District of Maryland.

    Bankrupt Extended Stay Inc. is proposing a standby purchase agreement with Centerbridge Partners L.P. and Paulson and Co. Inc.
  • Orders Against Institutions Ongoing (Fri, 19 Mar 2010 12:34 GMT)  Four institutions recently faced cease-and-desist orders from the Office of the Comptroller of the Currency or the National Credit Union Administration.

    Formal agreements were recently reached between 21 institutions and either the OCC or the Federal Reserve.

    The OCC also hit eight banks with civil money penalties.
Bankrate.com: Today's new stories Wed, 30 Sep 2009 13:00:04 GMT Bankrate.com: Today's Best Mortgage Rates 8/27/2008 9:00:01 AM

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