Search for: "FDIC AS RECEIVER FOR INDYMAC BANK"
Results 1 - 19 of 19
Sorted by Relevance | Sort by Date
13 Jan 7:46 pm
Last week's rank speculation reasonable assumption that the FDIC as receiver of the late, great
IndyMac retained the liability for buyback demands made by Fannie Mae was confirmed Sunday by the New York Post ( a bastion of responsible
reporting, ... I said in my last post, it's hard to pick an emotional favorite in this Godzilla vs. Mothra face-off. On the other hand, I tend to get misty-eyed when banks are
injured, so to that extent I'd have to root for the FDIC, unless the loss would come out of ...
17 Jun 4:08 am
... notice recent high profile bank failures like IndyMac and Washington Mutual. In each case the
Federal Deposit Insurance Corporation (the "FDIC") came in and took ... loans, credit unions, and other "depository institutions" (collectively
all together, "banks") don't go into bankruptcy. Because they're so critical ... into a receivership or conservatorship. Then they call in the FDIC to act as receiver or conservator for the insolvent bank. That's when
resolution of the bank hits the news media and you see ...
20 Oct, 2008 12:12 pm
... bank and comes from a newsletter I receive. It's important because after last month's failure of California-based IndyMac Bank (I believe there will be at least another 100 ... deposits fully protected by: 1. Dividing your money
among several different bank companies. Note that dividing your money among several different branches of the same ... write checks over that
weekend as well. And for customers whose accounts exceeded the FDIC limit, all hope is not lost. Though this amount has varied, they ...
13 Oct, 2008 8:08 pm
... Mac, and, to a lesser extent, Washington Mutual, AIG, and Lehman Brothers. Banks dependent on short term interbank loans may also be experiencing liquidity issues ... has
been extensive litigation filed in connection with the two most prominent bank failures of 2008, IndyMac (refer here and here) and Washington Mutual (refer ... regulators closed Integrity on August 29, 2008, and the FDIC was appointed as its receiver (about which refer here). The bank's
deposit liabilities and some of its assets were ...
12 Jul, 2008 8:50 pm
... . Back in the early 1990s, the last time banks were failing fairly regularly, the FDIC used to slap up a sign on the bank's windows notifying account holders ... , another interesting site, noted that Sen. Chris Dodd, who heads the Senate Banking Committee,
received a $2,300 campaign contribution from Perry. But wait…there's ... hint that you have that it's not the same bank is the fine
print at the bottom of the site which identifies it as Indymac Federal Bank FSB, the tell-tale
letters that follow a ...
23 Nov, 2008 10:00 pm
... bank regulators had closed The Community Bank of Loganville, Georgia and that the FDIC has been named as a receiver. The FDIC also announced on November 21,
2008 (here) that as part of ... bank failures has accelerated as the year has progressed. 18 of the 22 bank failures in 2008 have taken place since July 1, 2008, and nine have ... $12.6 billion in assets is the third largest bank failure this year (after Washington Mutual and IndyMac). The FDIC
projects that it will spend $2.3 billion as a result of ...
20 Jan 7:49 pm
... be worse than officials originally thought. Investigators probing how Treasury regulators allowed a bank to falsify financial records
hiding its ill health have found at least three other ... other than IndyMac: During our inquiry, we also discovered that OTS had allowed other
thrifts to record capital contributions in an earlier period than received. That's it ... IndyMac case. Oh, and there are also some
bitter words from former FDIC spite-monger Bill Black. Black had his fifteen minutes of fame back in ...
23 Oct, 2008 10:20 pm
... 40,000 out of 60,000 currently delinquent IndyMac mortgages. In the six weeks since the takeover FDIC has mailed out 15,000 loan modification proposals, and has already received signed agreements from 3,500 homeowners. On average payments are being
reduced by $350 monthly. Details are in Chairman Sheila Bair's testimony today before the Senate Banking Committee. In contrast, August and September loan modifications by
subprime and alt-A servicers generally are still ...
16 Jul, 2008 4:15 am
... told me that he had just completed the first examination of IndyMac Bank, which had just
received its savings and loan charter only a year before. ... 80% complete subdivision. I was present at several confrontational meetings between the OTS and FDIC examiners and CLCA executives. It seemed that IMB was intent on refuting every finding ... upholding public policy, which was the very reason that got me
fired. Other bank appraisers should take note of this. USPAP and OTS appraisal regulations are public ...
17 Mar 8:30 pm
... been a marked resistance in both the Bush and Obama administrations to putting banks into FDIC receivership and non-banks
into the Chapter. To be sure we had WaMu, Wachovia, and IndyMac cycled through the FDIC, and Lehman
is wending its way through bankruptcy. But the ... allowed to go through the established legal regimes, while others have received ad hoc treatment? Is there something about the
FDIC process or bankruptcy that the Bush and Obama administrations think doesn't work? ...
7 Jan 7:00 pm
... including a permanent write-down of the principal balance. Is it working? Six months after receiving an Ocwen modification, 21% of homeowners have again fallen behind on
their payments ... lot of loan-modification programs, such as those rolled out by Citigroup and IndyMac Bank, Ocwen's doesn't use broad guidelines--for instance, assuming ... can provide evidence that it works better than the broad "systematic" approach
championed by the FDIC's Sheila Bair and those who follow her lead, then will loan ...
27 Oct, 2008 2:46 am
... wants it). Publicly, Ms. Bair has stated that she'd be happy to stay on at the FDIC if Obama wants her to stay there and, you know, doesn'
... 's efforts with IndyMac and could barely restrain a yawn. So, in two months, just under 40% of borrowers estimated to be eligible have
received written mod ... points and interest rate. Then again, by the time the national experiment with the nationalization of the banking business is finished, perhaps
we'll be telling out grandchildren about the days when lenders ...
16 Jan 2:20 pm
... 2001 and 2002, it bought thousands of subprime loans originated by the FDIC as receiver of the
failed Superior Bank, which was seized by the FDIC in 2001. Following the seizure, the
FDIC as receiver continued the subprime lending operations of Superior, which, as ... to honor its
repurchase obligations under the purchase and sale agreements. That's similar to what Fannie Mae is trying to force the FDIC to do in the case
of IndyMac, although the IndyMac loans were not originated by the FDIC, but by ...
5 Jan 7:22 pm
... couldn't see that it would back off an opportunity to use the FDIC's desire to unload IndyMac by
year end as a wedge to enforce a hefty repurchase. Nevertheless, on January ... pure guess, but a not entirely unreasonable one. I suppose some might receive some perverse
pleasure from seeing two government entities causing one another ... can prove fatal. Therefore, we'll be interested to see how all of this plays out. The following is an exclusive
video obtained by Bank Lawyer's Blog of the most recent ...
8 Jun 7:32 pm
... ;O policies today. As well-known blogger Kevin LaCroix explained in a post from last July following the meltdown of IndyMac, the regulatory
exclusion came into prominence during the last mass failure of thrifts and commercial banks in certain ... . If the D&O policy will not cover the directors of the failed
bank in connection with a law suit brought by the FDIC as receiver for a failed bank, then the FDIC will factor that into its
judgment of whether or not a successful lawsuit might result in ...
26 Sep, 2008 11:54 am
... Wall Street. The failure of such large entities as Washington Mutual, Bear Stearns, and IndyMac has left many people bewildered and
afraid.[1] Naturally unsettled by ... things, up to $100,000 per person per insured institution for bank deposits.[7] The FDIC also insures up to $250,000 per account holder ... government established the Corp. to deal with hundreds of insolvent thrifts that were not covered by
the FDIC.[21] The Corp. eventually helped to dispose of many of those thrifts while protecting ...
4 Nov, 2008 4:12 am
In response to carping by Barney Frank, Chuck Schumer, and a host of others about banks who receive capital infusions from the US Treasury and then use the capital for
purposes other than lending (such as the acquisition of ... totaled $600 billion, 32 times the deposit base of IndyMac, an institution which is
already putting pressure on the under-funded FDIC Insurance Fund; I wonder what Schumer and Frank think the alternatives were. When healthy
banks buy weak ones and maintain the acquired bank' ...
16 Jul, 2008 5:46 am
... for borrower-over-lender bias evident until the final clueless nanosecond. So goes Indy, so goes the FDIC, so goes our financial system.
Ride 'em, Sheila, ride 'em! Meanwhile, the last of the panicked insured depositors withdraw their insured deposits from IndyMac and
receive an unpleasant surprise from the FDIC's uniformed and plainclothes "Withdrawal Discouragers" upon exiting the bank branch. While Sheila's all for cutting borrowers slack on the asset side of the balance sheet, it's a whole ...
24 Nov, 2008 1:35 pm
... 20 billion investment in the bank. The government has already injected $25 billion into Citigroup as part of the $700 billion bailout
passed by Congress in October. In return for the latest intervention, the government will receive an additional batch of preferred ... Plus, Citigroup will be expected to adjust
mortgages for troubled borrowers, using procedures similar to those the FDIC implemented at IndyMac,
which it took over last summer. (Emphasis supplied.) Krugman is quite negative. By Big Tent ...
Search on: Blawgs.FM | BlawgSearch Google Co-op
| Blawg.com | Bloglines | Feedster | Google Blog Search | Technorati | Google | MSN | Yahoo!