Items Tagged with 'Summit'


  • Two Bank Failures Push '09 Count to 25

    Another two bank failures announced late Friday pushed the running total to 25 banks shut down by federal regulators so far this year, marking a substantial increase from the pace of bank failures seen last year. As of April 2008, regulators had closed only two banks, demonstrating the continued effects of deteriorating financial markets on U.S. banks. Friday’s bank failures will cost an estimated $84m to the Federal Deposit Insurance Corp. (FDIC) insurance fund. The failures put a total $452m in combined assets  on the line for purchase or disposition.
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  • Mortgage Fraud Scheme in Missouri Involves Agent, Brokers

    A Missouri real estate agent and two former loan officers were indicted in a $12.6 million mortgage fraud scheme that involved 25 residential properties in Lee's Summit, Mo., and Raymore, Mo., U.S. Attorney for the Western District of Missouri John Wood said on Wednesday. A 34-count indictment of individuals ranging in age from 29 to 50 years old was returned by a federal grand jury in Kansas City. That this sort of fraud could take place in Missouri -- thousands of miles away from fraud hotbeds in California and Florida -- is telling.
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