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Mortgage Loans News

Mortgage Loans

Federal regulators seized three banks last night, including Downey Savings and Loan Association, a large California mortgage lender, expanding what is by far the most expensive crop of bank failures in modern American history and indicating that the ...

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FDIC Seizes Three - Washington Post

FARGO, N.D. Officials say the economy of the Red River Valley is holding up well, despite problems in the national economy. Gate City Bank President Steve Swiontek said the Fargo-based bank has seen record numbers of mortgage loans and auto lending ...

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Leaders say Red River Valley economy resilient - Grand Forks Herald

GMAC said the change in status would shore up its capital position and help it to continue to provide automotive and mortgage financing. GMAC is majority owned by New York-based private equity firm Cerberus Capital Management LP, which also owns most ...

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GMAC move may trigger aid - Jackson Clarion-Ledger

As the U.S. housing market remains mired in deep and ongoing troubles, South Dakota is bucking the malaise with one of the lowest mortgage foreclosure rates in the nation. In October, the Mount Rushmore state ranked 47th in the nation for mortgage ...

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Economically stable S.D. can skirt mortgage relief - Argus Leader

MINNEAPOLIS - (Business Wire) U.S. Bancorp (NYSE: USB) announced today that, effective immediately, its lead bank, U.S. Bank National Association, has acquired the banking operations of two separate California financial institutions from the Federal ...

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U.S. Bank Acquires Downey Savings & Loan and PFF Bank & Trust Through ... - Earthtimes

www.usbank.com - U.S. Bancorp (NYSE: USB) announced today that, effective immediately, its lead bank, U.S. Bank National Association, has acquired the banking operations of two separate California financial institutions from the Federal Deposit ...

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Refer to a friend - PR Inside

Five defendants have pleaded guilty to charges arising from a mortgage fraud scheme in which lenders funded $16 million in loans for properties that have entered foreclosure. Defendants Rafael Santiago and Angel Armendariz pleaded guilty Thursday to ...

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Guilty Pleas in Mortgage Fraud Scheme - Voiceof San Diego

Nov. 22 (Bloomberg) -- Seizure and sale of Downey Financial Corp. and two smaller lenders may cost the FDIC more than $2 billion as foreclosures rise and home prices extend declines in the worst housing slump since the Great Depression. U.S. Bancorp ...

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Downey Seized, Sold to U.S. Bancorp as Mortgage Fallout Spreads - Bloomberg

NEW YORK (Reuters) - The troubles at E*Trade Financial Corp (ETFC.O: Quote ) have worsened and now hinge on whether it can secure U.S. government funds that would bring some relief to its book of bad mortgage loans. Shares of the discount brokerage ...

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Battered E*Trade banking on government funds - Reuters Canada

Feeling the pressure from a national economic downturn, Spartanburg-based First National Bank of the South announced Friday it plans to cut 19 jobs. About 12 full-time employees and one temporary worker from across the bank's operations will lose ...

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