Items Tagged with 'chairwoman'

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  • The Show Must Go on for Legacy Loans

    The Legacy Loans Program (LLP), a big part of the Public-Private Investment Program designed to attract private capital to buy up toxic — or so-called “legacy” — loans faced its share of doubts as regulators shuffle programs to find the right balance between investment programs.
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  • Bank Net Income Falls 60% from Q108

    The US banking industry experienced a rough first quarter as the worst of the credit crisis continues to unwind, deteriorating assets take their toll on balance sheets and federal regulators expose weaknesses in capital buffers through exhaustive stress tests. Banks and savings institutions insured by the Federal Deposit Insurance Corp. (FDIC) reported a combined $7.6bn net income for Q109, $11.7bn or 60% below the net income reported in the year-ago quarter.
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  • FDIC's Bair Urges US Regulation on Global Issue

    Federal Deposit Insurance Corp. (FDIC) chairwoman Sheila Bair today asked a Senate committee on banking to consider a government regulatory framework to monitor global, systemic financial institutions considered "too big to fail." Bair argued the implementation of Basel II by financial institutions led to procyclicality (not an uncommon claim) and these firms should be subject to higher capital buffer requirements and stricter prompt corrective action under US law.
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  • OTS Chairman Steps Down

    John Reich, Director of the Office of Thrift Supervision, on Thursday announced his resignation from the agency. Reich and Obama administration officials may have been at odds over whether the government should take part in mortgage workouts to help troubled homeowners, according to a Market Watch report.
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  • Tech Roundup: Partnership Brings ForeclosureRadar to California Realtors

    The Real Estate Business Services Inc. announced last week announced a partnership with ForeclosureRadar, through which all California Association of Realtors (CAR) members may receive the online foreclosure-tracking software at a discounted rate. Discovery Bay, Calif.-based ForeclosureRadar provides professional investors with accurate, timely, up-to-date information on the foreclosure market.
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  • New Jersey Governor Calls for Sweeping Foreclosure Moratorium

    New Jersey Gov. Jon Corzine on Monday called for a three-to-six-month forclosure moratorium -- a temporary pause during which severely delinquent loans cannot enter the foreclosure process -- while government officials implement mass loan modification systems. "We need a bottom up approach to modifying mortgages one home at a time," Corzine said. "It's going to be be messy, but you got to get on the ground level."
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  • Sights on FDIC's Bair to Lead Foreclosure Mitigation Efforts

    House Financial Services Committee chairman Barney Frank (D-MA), and Housing and Community Opportunity Subcommittee Chairwoman Maxine Waters (D-CA) sent a letter to President Bush on Monday, urging that he appoint Federal Deposit Insurance Corp. chairman Sheila Bair to supervise and coordinate the on-going efforts to reduce foreclosures nationwide.
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