FDIC’s New Mortgage Appraisal Rule Ignores Lessons of Great Recession

After a vote today by the Federal Deposit Insurance Commission (FDIC) Board of Directors, banks making home mortgages will no longer need to obtain an appraisal for mortgages under $400,000. With the increased threshold approved by the FDIC today, a total of 72% of home mortgage transactions will be exempt from the Dodd-Frank Act’s rules

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Sheila Bair’s New Book – “Obama Administration Never Intended To Help Homeowners”

Former Chairmain of the Federal Deposit Insurance Corporation, Sheila Bair, has written a new book about the housing / banking crisis of 2008. As head of the FDIC at the time, Bair had a front row seat during the battle to save the housing market, banking and the economy.

Who Can I Sue? Lawsuits Against Appraisers

We live in one of the most litigious societies on the planet. Whenever we feel a wrong has been done to us we want to blame someone for it and make them pay. While this has caused a lot of controversy both in the media and the legal field, sometimes a topic comes along that stirs up all of our emotions…

Three Real Estate Agents Arrested in California Loan Scam

The California Attorney General’s office announced last week that they had arrested three real estate agents in Stockton for allegedly collecting money up front for loan modification services, a practice which is illegal.  The three now face several felony and misdemeanor charges, including conspiracy, false advertising to the public, and grand theft. The growing number

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Commercial Property Recovery is Premature, Analysts Say

Reports proclaiming the recovery of the US commercial real estate sector may well prove to be premature, despite the celebrations of some investors pronouncing its comeback. Despite a number of high profile deals involving marquee properties in some of the biggest US cities, commercial property values are still badly depressed throughout the country, and they

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Square Mile, Blackstone Purchase Hotel Mortgages From FDIC

A multi-million dollar deal was announced today as the Blackstone Group LP (BX) and Square Mile Capital Management LLCC real estate investment firm completed the purchase of hotel mortgages from the U.S. Federal Deposit Insurance Corp. for $385 million.

When Toxic Assets Aren’t the Only Toxic Element

Westport Investment Group, a real estate acquisition and advisory firm, announced its positioning to acquire deep discounted bank assets. The firm stands poised to acquire toxic assets from U.S. financial institutions, and in assisting in the recapitalization of selected banks. For banks scheduled to be taken over by the FDIC, Westport may represent a viable alternative.

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