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Items Tagged with 'Insolvency law'


  • RMBS market worries quiet mortgage cramdowns may get louder

    The Helping Families Save Their Homes in Bankruptcy Act, signed into law mid-2009, threatened to derail parts of the residential mortgage-backed securities market. That was until legislators stripped out the part that allows bankruptcy judges to cram down mortgages. Credit rating agency and analytics firm DBRS is reporting that mortgage writedowns since then are, in fact, currently being done by some bankruptcy judges. Bankruptcy judges arguably only wish to reduce the mortgage so the debt is more in line with the actual value of the property.
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  • Capmark Negotiating Mortgage Unit Sale to Stave Bankruptcy

    Capmark Financial Group said it is taking steps to restructure its businesses, including commercial real estate financing and servicing, to avoid a potential Chapter 11 bankruptcy filing. After losing $1.6bn in Q209, Capmark acknowledged "the outcomes of such restructuring may include reorganization under chapter 11 of the US Bankruptcy Code."
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  • Colonial BancGroup Files Chapter 11 Bankruptcy

    Colonial BancGroup on Tuesday filed for Chapter 11 bankruptcy in Alabama's northern district, according to a filing with the Securities and Exchange Commission. The bankruptcy comes as no real shock, with Colonial BancGroup previously noting in past filings the possible inability for the company to continue as "a going concern."
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  • Taylor, Bean & Whitaker Files for Bankruptcy

    Taylor, Bean & Whitaker Mortgage Corp. filed for relief under Chapter 11 bankruptcy to focus on restructuring its operations and potential wind-down of its assets, the company said Monday. The mortgage lender will continue to operate on a scaled-down basis as it begins recovering, restructuring and possibly liquidating its assets.
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  • Bankruptcy Alert Software Notifies Lenders of Filings

    Wilmington, Del.-based software developer Corporation Service Company launched its Bankruptcy Tracker program, which monitors court filings and notifies companies via e-mail when a debtor files for bankruptcy. Corporation Service noted consumer bankruptcies recently reached the highest mark since the fall of 2005. In July alone, consumers filed 126,434 bankruptcies, representing a 34% increase over July of 2007 and an 8% increase over June’s filings. Corporation Service sends lenders e-mail alerts on bankruptcies filed against their debtors.
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