Week's Bank Failure Costs Exceed $600 Million
This week's bank failures -- including a financial institution with more than $1 billion in assets -- more than doubled the number of federally insured banks that have been shut down so far during 2012. Losses from the latest round of closings are projected to exceed $600 million.
The Florida Office of Financial Regulation closed down First Guaranty Bank and Trust Company of Jacksonville on Friday.
Like with all of Friday's bank failures, the Federal Deposit Insurance was named receiver of the fallen firm.
read story
1st Bank Failure in More than Month
It had been more than a month since a federally insured bank had failed. But that streak ended Friday with a trio of bank failures. Costs from one of the three banks are expected to exceed $200 million.
Opportunity Lurks in MetLife Shutdown
The decision to close down MetLife Home Loans is obviously a big blow to the thousands of employees who work at the company.
MetLife Texas Layoffs Exceed 800
More than 800 Texas employees will lose their jobs as a result of MetLife Inc.'s decision to close down its home-loan business.
LendingTree Negotiates New Warehouse Lines
Despite its planned exit from mortgage originations, LendingTree LLC has increased its warehouse lending capacity. It the second time that the company has recently scored a new line.
Employees Impacted by MetLife Move
The closing of MetLife Home Loans will result in 4,300 layoffs, and some of those layoffs are in Washington state.
DC Firm Postures to Help FHA Mortgagees
A consulting firm operating from the nation's capitol has made an acquisition that will help Federal Housing Administration mortgagees avoid and deal with enforcement actions.
MetLife to Shut Down
Less than three years after it was launched, MetLife Home Loans is going out of business.
Group Warns Ally of "Significant Litigation" if ResCap Files Bankruptcy
While the possibility of a Residential Capital LLC bankruptcy has been around for years, several bond investors are so concerned about an imminent filing that they have formally organized to protect their positions.
Treasury's View as Countrywide Sank
As problems at Countrywide Financial Corp. began to surface in 2007, regulators had a sense of what was ahead both for the company and for the mortgage industry.
