Items Tagged with 'superintendent'

ARTICLES

  • Maine Shuts Out 15 Mortgage Rescue Companies

    Regulators in Maine ordered 15 so-called “mortgage rescue” companies to stop doing business in the state because they took advanced fees from homeowners but did nothing to help their clients. According to Will Lund, superintendent of Maine’s Bureau of Consumer Credit Protection, the 15 companies – all of them located out-of-state - collected a combined $36,000 from 30 Maine homeowners and have ignored all communication from state regulators.
    Read More
  • NY Banking Regulator Calls for Treasury's Help in Loan Modifications

    The State of New York Banking Department superintendent Richard H. Neiman urged the U.S. Treasury Department to speed systemic loan modifications. In a speech given Thursday to the New York Bankers Association, Neiman discussed New York's role in regulatory reform and steps that can be taken to help stabilize a teetering housing market.
    Read More
  • Regulators, Banks Meet on Bond Insurers

    I'd wanted to use the headline "Counterparty Party," but the Calculated Risk blog seems to already be on that wavelength ... At any rate, banks and insurance regulators pow-wowed today in New York. The subject? What to do about the troubles now facing many large monoline bond insurers, whose woes run the risk of making the term "net of hedges" something of a joke at many of the nation's largest financial institutions.
    Read More
  • FDIC Sees Another Bank Fail; Subprime Hits Cited

    The FDIC said today that Ohio's Superintendent of Financial Institutions closed the Miami Valley Bank of Lakeview, a small local bank with $86.7 million in total assets and $76 million in total deposits as of October 1, 2007. From the press release:
    Read More
  • Arizona Legislature Makes Mortgage Fraud a Crime

    In a bit of a surprise to me, the newest legislative trend in mortgage banking appears to actually be a positive one. The Arizona Senate voted 26-0 to approve legislation that makes mortgage fraud a felony offense: [The bill] would make residential mortgage fraud a felony punishable by up three years in prison for a first offense, with tougher penalties imposed if a person engages in a pattern - or conspires to do so - of residential mortgage fraud.
    Read More