JPMorgan Chase is still arguing with the Federal Deposit Insurance Corp. over the precise wording of its purchase agreement to buy Washington Mutual five years ago. The debate is part of a long process to resolve who bears the ultimate responsibility for WaMu's failed liabilities.
The Federal Insurance Deposit Corp. is allowed to dismantle a firm if it cannot pass through bankruptcy without posing a significant threat to the financial system. Dodd-Frank gives the FDIC the power to do that, and they plan to use it if needed.
The Federal Deposit Insurance Corp. estimates how much it will cost the insurance fund every time it seizes a bank. But the estimated cost and the actual cost don't always match up, leading to deeper losses than expected.
A federal judge dismissed Bank of America’s lawsuit against the Federal Deposit Insurance Corp. over $1.7 billion in investor losses stemming from the collapse of a large regional bank and a large mortgage lender back in 2009.
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