Items Tagged with 'John Bowman'

ARTICLES

  • Regulators Push Modifications Despite Second Lien Ownership

    The saga around second liens continued on Thursday as regulators issued a letter to financial institutions, aiming to end part of the dispute on conflicts of interest present in modifying first liens on a property also secured by a second lien in a subordinate position. The Federal Financial Institutions Examination Council sent a letter to Federal Deposit Insurance Corp. (FDIC)-supervised banks, saying they should modify first liens when it's in the best interest of investors and owners, despite any ownership of the second lien by the bank.
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  • Thrift Losses Narrow, Bad Assets Still a Drag

    In a day of mixed news for the thrift industry, the Office of Thrift Supervision (OTS) released a report showing losses at US thrifts narrowed significantly in Q109. But the regulator also reported the number of problem institutions climbed and the value of the industry's bad assets hit a record high. Thrifts reported a $47m loss in Q109, marking their best performance since September 2007, according to the OTS. During the quarter, 74% of savings and loan companies were profitable, up from 65% in Q408.
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