It's the mantra among regulators and echoed by Federal Reserve chairman Ben Bernanke on Friday: The recession -- pushed along by rising unemployment levels, plunging home values and growing delinquencies -- would be much worse had governmental bodies not stepped up to intervene.
The Treasury Department on Tuesday released details surrounding the injection of $365.4 million in capital into another 23 financial institutions across the nation, bringing the total investments made through the Capital Purchase Program to $196.36 billion. All but three of the institutions that participated Friday were privately-held firms; 55.2 percent of the funds distributed that day were given to private firms. One Arkansas-based firm participated, as did a bank based in Alabama, four based in California and one out of Florida.
While it's likely no longer surprising for many market participants, a report by consumer credit bureau TransUnion released Monday found that mortgage delinquencies had increased for the fifth straight quarter during Q1, while consumers managed to add to their overall mortgage debt load during the quarter as well.
Bank of the West announced today that its wholly-owned subsidiary, BW Insurance Agency, Inc., (BWIA) has acquired Contractor's Insurance Services, Inc., a full service insurance agency offering a variety of commercial and personal insurance lines.
CIS specializes in providing insurance, risk management and asset protection services for the burgeoning building industry throughout the Pacific Northwest.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More