Once again, the Federal Deposit Insurance Corp. shut down a bank late Friday afternoon, meaning that news was mostly missed until today. It’s Alpharatta, Ga.-based Alpha Bank and Trust, a small community banking outfit, Housing Wire reports. It’s the 16th bank failure so far this year.
The reality that More…
Voluntary mortgage-reduction programs are insufficient to curb the spreading blight of national foreclosures, the head of the FDIC said Thursday, and the federal government should step in to help folks keep their homes.
The Bush administration and the finance industry have long resisted proposals forcing lenders to modify the terms More…
President George W. Bush, the Treasury Dept., the Federal Reserve and the Federal Deposit Insurance Corp. are all out in force today, as they should be. You own a piece of some of our biggest banks today.
Bush went first, explaining to the American people that Washington will invest More…
Now that the government has nationalized Fannie Mae and Freddie Mac, it should step in and modify the mortgage loans of troubled borrowers on a massive scale, consumer advocates say.
Housing Wire reports that advocates are pushing the two mortgage giants to follow the lead of the Federal Deposit More…
In addressing the mortgage mess, the approach of pushing lenders to modify mortgages through loan workouts continues to take center stage — despite a growing controversy over whether they get results. As foreclosures continue to rise, a political battle is heating up as well.
The Federal Deposit Insurance Corp., which More…
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