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.
People are listening to real estate economists today in a way that anyone who covered the industry a decade or more ago would not recognize. Smoke is one of the members of this new wave of real estate economists. In fact, Smoke is actually the newest one on the block. The upstart economists at places like Trulia and Zillow are still new, Smoke is just the latest player to join the game..
Typically, for a process and a product that depends largely on human effort, if you want a higher quality product, you have to pay more. The best doctors, chefs, mechanics and attorneys all make more than the market average. Nevertheless, lenders, AMCs and Fannie Mae all expect appraisal quality to increase even as appraiser fees decrease. Read More