Items Tagged with 'Franklin'


  • Bank of America and the middle-man hedge

    We often need to be reminded that we are officially in a recovery and have been for awhile. Operating in the mortgage space is a significant challenge and much criticism is directed at the big four in particular. The banks are often charged with exhibiting endemic incompetence in the goings-on of daily business. The banks themselves admit they need work in many areas, but say they are doing the best they can with what they have.
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  • The Power of Face-to-Video for Distressed Borrower Counseling

    One of the reasons that mortgage brokers were so important (and will be again, in my opinion) is that when people engage in a transaction as large as a home mortgage, they like to do it face to face. That forced national lenders to recruit, train and manage large third party origination networks to sit down with prospective borrowers and walk them quickly through the process.
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  • Bank Failures Top 19 in 2008

    Two bank closures late last week brought the 2008 running total to nineteen, so far. The Federal Deposit Insurance Corp. announced Friday that it had taken over Los Angeles-based Security Pacific Bank and Houston-based state-chartered thrift Franklin Bank Corp., the assets of which have been transferred respectively to Pacific Western Bank and Prosperity Bank.
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  • Regional Banks Feel Credit's Pinch

    A slew of regional bank earnings, released Tuesday morning, provide a quick look at how the nation's credit crunch is affecting banks other than the national, commercial giants. For Cleveland-based National City Corp. [stock NCC][/stock], the ghost of former subprime lending platform First Franklin -- and now, a slew of other loans, too -- has continued to hurt, as the bank reported a third quarter net loss of $729 million and continued to build its loss reserves.
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