Published by Mike Jaeger Live
Enjoy the video and visit the piggy bank blog.
Sunday, November 14, 2010
Tuesday, October 12, 2010
Corrupt Banks Lie About Foreclosure Problems October 2010
Banks are now telling people that a problem in foreclosure, with robot signers they say, is being reviewed and fixed. Mainstream press plays along. But what is the real story?
Here are two real life corrupt banking anomalies to consider. I have several others that are stinking to high heaven with greed and corruption as well.
Two real world stinky deals... a recent short sale and a foreclosure, both in California, neither make any good business sense.
Foreclosure Fraud?
1) Ocwen turns down a 389,000 short sale in Fair Oaks California that would net the Fannie Mae investor 339,000 then sells the loan to another investor, who pays 245,000 for it and they foreclose on the seller. They then sell the house for 339,000 and put the profit in their pocket. Sellers, brokers, title company, short sale buyer, fannie mae, and tax payers all lose on this deal. The investor who bought the loan and Ocwen," who is paid no matter what" win.
Short sale fraud?
2) Bank of America loses a 4th buyer after stalling a short sale in Roseville California for over two years. The Bank of America process was for buyer and seller to send the contract plus all their documentation, which is pretty much the same information requested for a loan modification, to the Bank of America, who then waited 3 to 4 months each time a buyer tried to buy the house, while they are still servicing the Fannie Mae loan,"for which they are being paid fees by the owner of the Fannie mae loan" they then respond to the offer by asking too much and so the buyer buys another house. BofA had done did this 3 times on this Roseville house ... before they then tell the seller a new equator system will work better. The 4th buyer tries for 3 months to buy the house, BofA again asks for more money... this time the buyer said okay... success right? No, instead a week later, BofA tells the buyer they had no authority to enforce the offer, and the Fannie Mae investor wants another $5,000 ! So, this buyer leaves after 4 months of wasted effort and they buy another house. Seller, brokers, title company, Fannie Mae, and tax payers all lose. This house is still on the market, the price with each buyer is falling, as now a vacant ugly house is also a problem for the neighborhood. This home was well cared for during the first 7 months it was on the market, then the seller had to move.
Published by Mike Jaeger Live
Here are two real life corrupt banking anomalies to consider. I have several others that are stinking to high heaven with greed and corruption as well.
Two real world stinky deals... a recent short sale and a foreclosure, both in California, neither make any good business sense.
Foreclosure Fraud?
1) Ocwen turns down a 389,000 short sale in Fair Oaks California that would net the Fannie Mae investor 339,000 then sells the loan to another investor, who pays 245,000 for it and they foreclose on the seller. They then sell the house for 339,000 and put the profit in their pocket. Sellers, brokers, title company, short sale buyer, fannie mae, and tax payers all lose on this deal. The investor who bought the loan and Ocwen," who is paid no matter what" win.
Short sale fraud?
2) Bank of America loses a 4th buyer after stalling a short sale in Roseville California for over two years. The Bank of America process was for buyer and seller to send the contract plus all their documentation, which is pretty much the same information requested for a loan modification, to the Bank of America, who then waited 3 to 4 months each time a buyer tried to buy the house, while they are still servicing the Fannie Mae loan,"for which they are being paid fees by the owner of the Fannie mae loan" they then respond to the offer by asking too much and so the buyer buys another house. BofA had done did this 3 times on this Roseville house ... before they then tell the seller a new equator system will work better. The 4th buyer tries for 3 months to buy the house, BofA again asks for more money... this time the buyer said okay... success right? No, instead a week later, BofA tells the buyer they had no authority to enforce the offer, and the Fannie Mae investor wants another $5,000 ! So, this buyer leaves after 4 months of wasted effort and they buy another house. Seller, brokers, title company, Fannie Mae, and tax payers all lose. This house is still on the market, the price with each buyer is falling, as now a vacant ugly house is also a problem for the neighborhood. This home was well cared for during the first 7 months it was on the market, then the seller had to move.
Published by Mike Jaeger Live
Thursday, September 30, 2010
Failed Bank List
Published by Mike Jaeger Live
Failed Bank List
The FDIC is often appointed as receiver for failed banks. This page contains useful information for the customers and vendors of these banks. This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership. Failed Financial Institution Contact Search displays point of contact information related to failed banks.
This list includes banks which have failed since October 1, 2000.
Failed Bank List - CSV file (Updated on Mondays. Also opens in Excel - Excel Help)
Click arrows next to headers to sort in Ascending or Descending order.
Bank Name
City
State
CERT #
Closing Date
Updated Date
Haven Trust Bank Florida Ponte Vedra Beach FL 58308 September 24, 2010 September 27, 2010
North County Bank Arlington WA 35053 September 24, 2010 September 27, 2010
First Commerce Community Bank Douglasville GA 57448 September 17, 2010 September 22, 2010
Bank of Ellijay Ellijay GA 58197 September 17, 2010 September 23, 2010
ISN Bank Cherry Hill NJ 57107 September 17, 2010 September 21, 2010
The Peoples Bank Winder GA 182 September 17, 2010 September 22, 2010
Maritime Savings Bank West Allis WI 28612 September 17, 2010 September 22, 2010
Bramble Savings Bank Milford OH 27808 September 17, 2010 September 23, 2010
Horizon Bank Bradenton FL 35061 September 10, 2010 September 21, 2010
Sonoma Valley Bank Sonoma CA 27259 August 20, 2010 August 26, 2010
Los Padres Bank Solvang CA 32165 August 20, 2010 August 24, 2010
Butte Community Bank Chico CA 33219 August 20, 2010 August 25, 2010
Pacific State Bank Stockton CA 27090 August 20, 2010 August 24, 2010
ShoreBank Chicago IL 15640 August 20, 2010 August 24, 2010
Imperial Savings and Loan Association Martinsville VA 31623 August 20, 2010 August 26, 2010
Independent National Bank Ocala FL 27344 August 20, 2010 August 24, 2010
Community National Bank at Bartow Bartow FL 25266 August 20, 2010 August 24, 2010
Palos Bank and Trust Company Palos Heights IL 17599 August 13, 2010 August 17, 2010
Ravenswood Bank Chicago IL 34231 August 6, 2010 August 11, 2010
LibertyBank Eugene OR 31964 July 30, 2010 August 6, 2010
The Cowlitz Bank Longview WA 22643 July 30, 2010 August 26, 2010
Coastal Community Bank Panama City Beach FL 9619 July 30, 2010 August 6, 2010
Northwest Bank & Trust Acworth GA 57658 July 30, 2010 August 6, 2010
Bayside Savings Bank Port Saint Joe FL 57669 July 30, 2010 August 6, 2010
SouthwestUSA Bank Las Vegas NV 35434 July 23, 2010 July 30, 2010
Community Security Bank New Prague MN 34486 July 23, 2010 July 30, 2010
Thunder Bank Sylvan Grove KS 10506 July 23, 2010 July 30, 2010
Williamsburg First National Bank Kingstree SC 17837 July 23, 2010 July 30, 2010
Crescent Bank and Trust Company Jasper GA 27559 July 23, 2010 September 13, 2010
Sterling Bank Lantana FL 32536 July 23, 2010 July 30, 2010
Home Valley Bank Cave Junction OR 23181 July 23, 2010 July 30, 2010
Mainstreet Savings Bank, FSB Hastings MI 28136 July 16, 2010 July 22, 2010
Olde Cypress Community Bank Clewiston FL 28864 July 16, 2010 July 26, 2010
Turnberry Bank Aventura FL 32280 July 16, 2010 July 22, 2010
Metro Bank of Dade County Miami FL 25172 July 16, 2010 July 22, 2010
First National Bank of the South Spartanburg SC 35383 July 16, 2010 July 26, 2010
Woodlands Bank Bluffton SC 32571 July 16, 2010 July 22, 2010
Ideal Federal Savings Bank Baltimore MD 32456 July 9, 2010 July 12, 2010
Bay National Bank Baltimore MD 35462 July 9, 2010 July 19, 2010
Home National Bank Blackwell OK 11636 July 9, 2010 July 19, 2010
USA Bank Port Chester NY 58072 July 9, 2010 July 12, 2010
Peninsula Bank Englewood FL 26563 June 25, 2010 September 22, 2010
First National Bank Savannah GA 34152 June 25, 2010 August 26, 2010
High Desert State Bank Albuquerque NM 35279 June 25, 2010 August 26, 2010
Nevada Security Bank Reno NV 57110 June 18, 2010 August 26, 2010
Washington First International Bank Seattle WA 32955 June 11, 2010 August 26, 2010
TierOne Bank Lincoln NE 29341 June 4, 2010 September 10, 2010
Arcola Homestead Savings Bank Arcola IL 31813 June 4, 2010 August 26, 2010
First National Bank Rosedale MS 15814 June 4, 2010 August 26, 2010
Bank of Florida - Southwest Naples FL 35106 May 28, 2010 August 26, 2010
Bank of Florida - Tampa Tampa FL 57814 May 28, 2010 August 26, 2010
Granite Community Bank, NA Granite Bay CA 57315 May 28, 2010 August 26, 2010
Sun West Bank Las Vegas NV 34785 May 28, 2010 August 26, 2010
Bank of Florida - Southeast Fort Lauderdale FL 57360 May 28, 2010 August 26, 2010
Pinehurst Bank Saint Paul MN 57735 May 21, 2010 August 26, 2010
Midwest Bank and Trust Company Elmwood Park IL 18117 May 14, 2010 August 26, 2010
Southwest Community Bank Springfield MO 34255 May 14, 2010 August 26, 2010
New Liberty Bank Plymouth MI 35586 May 14, 2010 August 26, 2010
Satilla Community Bank Saint Marys GA 35114 May 14, 2010 August 26, 2010
1st Pacific Bank of California San Diego CA 35517 May 7, 2010 August 26, 2010
Towne Bank of Arizona Mesa AZ 57697 May 7, 2010 August 26, 2010
Access Bank Champlin MN 16476 May 7, 2010 August 26, 2010
The Bank of Bonifay Bonifay FL 14246 May 7, 2010 August 26, 2010
R-G Premier Bank of Puerto Rico
En Español Hato Rey PR 32185 April 30, 2010 August 26, 2010
Eurobank
En Español San Juan PR 27150 April 30, 2010 August 26, 2010
Frontier Bank Everett WA 22710 April 30, 2010 August 26, 2010
BC National Banks Butler MO 17792 April 30, 2010 August 26, 2010
Champion Bank Creve Coeur MO 58362 April 30, 2010 August 26, 2010
CF Bancorp Port Huron MI 30005 April 30, 2010 August 26, 2010
Westernbank Puerto Rico
En Español Mayaguez PR 31027 April 30, 2010 August 26, 2010
Amcore Bank, National Association Rockford IL 3735 April 23, 2010 August 26, 2010
Broadway Bank Chicago IL 22853 April 23, 2010 September 22, 2010
Citizens Bank and Trust Company of Chicago Chicago IL 34658 April 23, 2010 August 26, 2010
New Century Bank Chicago IL 34821 April 23, 2010 August 26, 2010
Lincoln Park Savings Bank Chicago IL 30600 April 23, 2010 August 26, 2010
Peotone Bank and Trust Company Peotone IL 10888 April 23, 2010 August 26, 2010
Wheatland Bank Naperville IL 58429 April 23, 2010 August 26, 2010
City Bank Lynnwood WA 21521 April 16, 2010 August 26, 2010
Tamalpais Bank San Rafael CA 33493 April 16, 2010 August 26, 2010
Innovative Bank Oakland CA 23876 April 16, 2010 August 26, 2010
Butler Bank Lowell MA 26619 April 16, 2010 August 26, 2010
Riverside National Bank of Florida Fort Pierce FL 24067 April 16, 2010 August 26, 2010
AmericanFirst Bank Clermont FL 57724 April 16, 2010 August 26, 2010
First Federal Bank of North Florida Palatka FL 28886 April 16, 2010 August 27, 2010
Lakeside Community Bank Sterling Heights MI 34878 April 16, 2010 August 27, 2010
Beach First National Bank Myrtle Beach SC 34242 April 9, 2010 August 27, 2010
Desert Hills Bank Phoenix AZ 57060 March 26, 2010 August 27, 2010
Unity National Bank Cartersville GA 34678 March 26, 2010 August 27, 2010
Key West Bank Key West FL 34684 March 26, 2010 August 27, 2010
McIntosh Commercial Bank Carrollton GA 57399 March 26, 2010 August 27, 2010
American National Bank Parma OH 18806 March 19, 2010 August 27, 2010
Century Security Bank Duluth GA 58104 March 19, 2010 August 27, 2010
State Bank of Aurora Aurora MN 8221 March 19, 2010 August 27, 2010
First Lowndes Bank Fort Deposit AL 24957 March 19, 2010 August 27, 2010
Bank of Hiawassee Hiawassee GA 10054 March 19, 2010 August 27, 2010
Appalachian Community Bank Ellijay GA 33989 March 19, 2010 August 27, 2010
Advanta Bank Corp. Draper UT 33535 March 19, 2010 September 16, 2010
Statewide Bank Covington LA 29561 March 12, 2010 August 27, 2010
Old Southern Bank Orlando FL 58182 March 12, 2010 August 27, 2010
The Park Avenue Bank New York NY 27096 March 12, 2010 August 27, 2010
LibertyPointe Bank New York NY 58071 March 11, 2010 August 27, 2010
Centennial Bank Ogden UT 34430 March 5, 2010 August 27, 2010
Waterfield Bank Germantown MD 34976 March 5, 2010 August 27, 2010
Bank of Illinois Normal IL 9268 March 5, 2010 August 27, 2010
Sun American Bank Boca Raton FL 27126 March 5, 2010 August 27, 2010
Rainier Pacific Bank Tacoma WA 38129 February 26, 2010 August 27, 2010
Carson River Community Bank Carson City NV 58352 February 26, 2010 August 27, 2010
La Jolla Bank, FSB La Jolla CA 32423 February 19, 2010 August 27, 2010
George Washington Savings Bank Orland Park IL 29952 February 19, 2010 August 27, 2010
The La Coste National Bank La Coste TX 3287 February 19, 2010 August 27, 2010
Marco Community Bank Marco Island FL 57586 February 19, 2010 August 27, 2010
1st American State Bank of Minnesota Hancock MN 15448 February 5, 2010 August 26, 2010
First Regional Bank Los Angeles CA 23011 January 29, 2010 August 26, 2010
American Marine Bank Bainbridge Island WA 16730 January 29, 2010 August 26, 2010
Community Bank and Trust Cornelia GA 5702 January 29, 2010 August 26, 2010
Marshall Bank, N.A. Hallock MN 16133 January 29, 2010 August 26, 2010
Florida Community Bank Immokalee FL 5672 January 29, 2010 August 26, 2010
First National Bank of Georgia Carrollton GA 16480 January 29, 2010 August 26, 2010
Columbia River Bank The Dalles OR 22469 January 22, 2010 August 26, 2010
Premier American Bank Miami FL 57147 January 22, 2010 August 26, 2010
Evergreen Bank Seattle WA 20501 January 22, 2010 August 26, 2010
Bank of Leeton Leeton MO 8265 January 22, 2010 August 26, 2010
Charter Bank Santa Fe NM 32498 January 22, 2010 August 26, 2010
Town Community Bank & Trust Antioch IL 34705 January 15, 2010 August 26, 2010
St. Stephen State Bank St. Stephen MN 17522 January 15, 2010 August 26, 2010
Barnes Banking Company Kaysville UT 1252 January 15, 2010 August 26, 2010
Horizon Bank Bellingham WA 22977 January 8, 2010 August 26, 2010
First Federal Bank of California, F.S.B. Santa Monica CA 28536 December 18, 2009 August 26, 2010
Imperial Capital Bank La Jolla CA 26348 December 18, 2009 August 27, 2010
Independent Bankers' Bank Springfield IL 26820 December 18, 2009 August 27, 2010
New South Federal Savings Bank Irondale AL 32276 December 18, 2009 August 27, 2010
Citizens State Bank New Baltimore MI 1006 December 18, 2009 August 27, 2010
Peoples First Community Bank Panama City FL 32167 December 18, 2009 August 27, 2010
RockBridge Commercial Bank Atlanta GA 58315 December 18, 2009 August 27, 2010
SolutionsBank Overland Park KS 4731 December 11, 2009 August 27, 2010
Valley Capital Bank, N.A. Mesa AZ 58399 December 11, 2009 August 27, 2010
Republic Federal Bank, N.A. Miami FL 22846 December 11, 2009 August 27, 2010
Greater Atlantic Bank Reston VA 32583 December 4, 2009 August 27, 2010
Benchmark Bank Aurora IL 10440 December 4, 2009 August 27, 2010
AmTrust Bank Cleveland OH 29776 December 4, 2009 August 27, 2010
The Tattnall Bank Reidsville GA 12080 December 4, 2009 August 27, 2010
First Security National Bank Norcross GA 26290 December 4, 2009 August 27, 2010
The Buckhead Community Bank Atlanta GA 34663 December 4, 2009 August 27, 2010
Commerce Bank of Southwest Florida Fort Myers FL 58016 November 20, 2009 August 27, 2010
Orion Bank Naples FL 22427 November 13, 2009 August 27, 2010
Century Bank, F.S.B. Sarasota FL 32267 November 13, 2009 August 27, 2010
Pacific Coast National Bank San Clemente CA 57914 November 13, 2009 August 27, 2010
Home Federal Savings Bank Detroit MI 30329 November 6, 2009 August 27, 2010
United Security Bank Sparta GA 22286 November 6, 2009 August 27, 2010
Prosperan Bank Oakdale MN 35074 November 6, 2009 August 27, 2010
United Commercial Bank San Francisco CA 32469 November 6, 2009 August 27, 2010
Gateway Bank of St. Louis St. Louis MO 19450 November 6, 2009 August 27, 2010
North Houston Bank Houston TX 18776 October 30, 2009 August 26, 2010
Madisonville State Bank Madisonville TX 33782 October 30, 2009 August 26, 2010
Citizens National Bank Teague TX 25222 October 30, 2009 August 26, 2010
Park National Bank Chicago IL 11677 October 30, 2009 August 26, 2010
Pacific National Bank San Francisco CA 30006 October 30, 2009 August 26, 2010
California National Bank Los Angeles CA 34659 October 30, 2009 August 26, 2010
San Diego National Bank San Diego CA 23594 October 30, 2009 August 26, 2010
Community Bank of Lemont Lemont IL 35291 October 30, 2009 August 26, 2010
Bank USA, N.A. Phoenix AZ 32218 October 30, 2009 August 26, 2010
Bank of Elmwood Racine WI 18321 October 23, 2009 August 26, 2010
Flagship National Bank Bradenton FL 35044 October 23, 2009 August 26, 2010
Hillcrest Bank Florida Naples FL 58336 October 23, 2009 August 26, 2010
American United Bank Lawrenceville GA 57794 October 23, 2009 August 26, 2010
Partners Bank Naples FL 57959 October 23, 2009 August 26, 2010
First DuPage Bank Westmont IL 35038 October 23, 2009 August 26, 2010
Riverview Community Bank Otsego MN 57525 October 23, 2009 August 26, 2010
San Joaquin Bank Bakersfield CA 23266 October 16, 2009 August 26, 2010
Warren Bank Warren MI 34824 October 2, 2009 August 26, 2010
Southern Colorado National Bank Pueblo CO 57263 October 2, 2009 August 26, 2010
Jennings State Bank Spring Grove MN 11416 October 2, 2009 August 26, 2010
Georgian Bank Atlanta GA 57151 September 25, 2009 August 26, 2010
Irwin Union Bank, F.S.B. Louisville KY 57068 September 18, 2009 August 26, 2010
Irwin Union Bank and Trust Company Columbus IN 10100 September 18, 2009 August 26, 2010
Venture Bank Lacey WA 22868 September 11, 2009 August 26, 2010
Brickwell Community Bank Woodbury MN 57736 September 11, 2009 August 26, 2010
Corus Bank, N.A. Chicago IL 13693 September 11, 2009 August 26, 2010
First State Bank Flagstaff AZ 34875 September 4, 2009 August 26, 2010
Platinum Community Bank Rolling Meadows IL 35030 September 4, 2009 August 26, 2010
Vantus Bank Sioux City IA 27732 September 4, 2009 August 26, 2010
InBank Oak Forest IL 20203 September 4, 2009 August 26, 2010
First Bank of Kansas City Kansas City MO 25231 September 4, 2009 August 26, 2010
Affinity Bank Ventura CA 27197 August 28, 2009 August 26, 2010
Mainstreet Bank Forest Lake MN 1909 August 28, 2009 August 26, 2010
Bradford Bank Baltimore MD 28312 August 28, 2009 August 26, 2010
ebank Atlanta GA 34682 August 21, 2009 August 26, 2010
First Coweta Bank Newnan GA 57702 August 21, 2009 August 26, 2010
CapitalSouth Bank Birmingham AL 22130 August 21, 2009 August 26, 2010
Guaranty Bank Austin TX 32618 August 21, 2009 August 26, 2010
Community Bank of Nevada Las Vegas NV 34043 August 14, 2009 August 26, 2010
Community Bank of Arizona Phoenix AZ 57645 August 14, 2009 August 26, 2010
Union Bank, National Association Gilbert AZ 34485 August 14, 2009 August 26, 2010
Colonial Bank Montgomery AL 9609 August 14, 2009 August 26, 2010
Dwelling House Savings and Loan Association Pittsburgh PA 31559 August 14, 2009 August 26, 2010
Community First Bank Prineville OR 23268 August 7, 2009 August 26, 2010
Community National Bank of Sarasota County Venice FL 27183 August 7, 2009 August 26, 2010
First State Bank Sarasota FL 27364 August 7, 2009 September 23, 2010
Mutual Bank Harvey IL 18659 July 31, 2009 August 27, 2010
First BankAmericano Elizabeth NJ 34270 July 31, 2009 August 27, 2010
Peoples Community Bank West Chester OH 32288 July 31, 2009 August 27, 2010
Integrity Bank Jupiter FL 57604 July 31, 2009 August 27, 2010
First State Bank of Altus Altus OK 9873 July 31, 2009 August 27, 2010
Waterford Village Bank Williamsville NY 58065 July 24, 2009 August 27, 2010
Security Bank of Gwinnett County Suwanee GA 57346 July 24, 2009 August 27, 2010
Security Bank of North Fulton Alpharetta GA 57430 July 24, 2009 August 27, 2010
Security Bank of Bibb County Macon GA 27367 July 24, 2009 August 27, 2010
Security Bank of Jones County Gray GA 8486 July 24, 2009 August 27, 2010
Security Bank of Houston County Perry GA 27048 July 24, 2009 August 27, 2010
Security Bank of North Metro Woodstock GA 57105 July 24, 2009 August 27, 2010
Temecula Valley Bank Temecula CA 34341 July 17, 2009 August 27, 2010
Vineyard Bank Rancho Cucamonga CA 23556 July 17, 2009 August 27, 2010
BankFirst Sioux Falls SD 34103 July 17, 2009 August 27, 2010
First Piedmont Bank Winder GA 34594 July 17, 2009 August 27, 2010
Bank of Wyoming Thermopolis WY 22754 July 10, 2009 August 27, 2010
Founders Bank Worth IL 18390 July 2, 2009 August 27, 2010
Millennium State Bank of Texas Dallas TX 57667 July 2, 2009 August 27, 2010
First National Bank of Danville Danville IL 3644 July 2, 2009 August 27, 2010
Elizabeth State Bank Elizabeth IL 9262 July 2, 2009 August 27, 2010
Rock River Bank Oregon IL 15302 July 2, 2009 August 27, 2010
First State Bank of Winchester Winchester IL 11710 July 2, 2009 August 27, 2010
John Warner Bank Clinton IL 12093 July 2, 2009 August 27, 2010
Mirae Bank Los Angeles CA 57332 June 26, 2009 August 27, 2010
MetroPacific Bank Irvine CA 57893 June 26, 2009 August 27, 2010
Horizon Bank Pine City MN 9744 June 26, 2009 August 27, 2010
Neighborhood Community Bank Newnan GA 35285 June 26, 2009 August 27, 2010
Community Bank of West Georgia Villa Rica GA 57436 June 26, 2009 August 27, 2010
Cooperative Bank Wilmington NC 27837 June 19, 2009 August 27, 2010
Southern Community Bank Fayetteville GA 35251 June 19, 2009 August 27, 2010
First National Bank of Anthony Anthony KS 4614 June 19, 2009 August 27, 2010
Bank of Lincolnwood Lincolnwood IL 17309 June 5, 2009 August 27, 2010
Strategic Capital Bank Champaign IL 35175 May 22, 2009 August 27, 2010
Citizens National Bank Macomb IL 5757 May 22, 2009 August 27, 2010
BankUnited, FSB Coral Gables FL 32247 May 21, 2009 August 26, 2010
Westsound Bank Bremerton WA 34843 May 8, 2009 August 26, 2010
America West Bank Layton UT 35461 May 1, 2009 August 26, 2010
Citizens Community Bank Ridgewood NJ 57563 May 1, 2009 August 27, 2010
Silverton Bank, NA Atlanta GA 26535 May 1, 2009 August 27, 2010
First Bank of Idaho Ketchum ID 34396 April 24, 2009 August 27, 2010
First Bank of Beverly Hills Calabasas CA 32069 April 24, 2009 August 27, 2010
Michigan Heritage Bank Farmington Hills MI 34369 April 24, 2009 August 27, 2010
American Southern Bank Kennesaw GA 57943 April 24, 2009 August 27, 2010
Great Basin Bank of Nevada Elko NV 33824 April 17, 2009 August 27, 2010
American Sterling Bank Sugar Creek MO 8266 April 17, 2009 August 27, 2010
New Frontier Bank Greeley CO 34881 April 10, 2009 August 27, 2010
Cape Fear Bank Wilmington NC 34639 April 10, 2009 August 27, 2010
Omni National Bank Atlanta GA 22238 March 27, 2009 August 27, 2010
TeamBank, NA Paola KS 4754 March 20, 2009 August 27, 2010
Colorado National Bank Colorado Springs CO 18896 March 20, 2009 August 27, 2010
FirstCity Bank Stockbridge GA 18243 March 20, 2009 August 27, 2010
Freedom Bank of Georgia Commerce GA 57558 March 6, 2009 August 27, 2010
Security Savings Bank Henderson NV 34820 February 27, 2009 August 27, 2010
Heritage Community Bank Glenwood IL 20078 February 27, 2009 August 27, 2010
Silver Falls Bank Silverton OR 35399 February 20, 2009 August 27, 2010
Riverside Bank of the Gulf Coast Cape Coral FL 34563 February 13, 2009 August 27, 2010
Sherman County Bank Loup City NE 5431 February 13, 2009 August 27, 2010
Corn Belt Bank & Trust Co. Pittsfield IL 16500 February 13, 2009 August 27, 2010
Pinnacle Bank of Oregon Beaverton OR 57342 February 13, 2009 August 27, 2010
County Bank Merced CA 22574 February 6, 2009 August 27, 2010
Alliance Bank Culver City CA 23124 February 6, 2009 August 27, 2010
FirstBank Financial Services McDonough GA 57017 February 6, 2009 August 27, 2010
Ocala National Bank Ocala FL 26538 January 30, 2009 August 27, 2010
Suburban FSB Crofton MD 30763 January 30, 2009 August 27, 2010
MagnetBank Salt Lake City UT 58001 January 30, 2009 September 22, 2010
1st Centennial Bank Redlands CA 33025 January 23, 2009 August 27, 2010
Bank of Clark County Vancouver WA 34959 January 16, 2009 August 27, 2010
National Bank of Commerce Berkeley IL 19733 January 16, 2009 August 27, 2010
Sanderson State Bank
En Español Sanderson TX 11568 December 12, 2008 August 27, 2010
Haven Trust Bank Duluth GA 35379 December 12, 2008 August 27, 2010
First Georgia Community Bank Jackson GA 34301 December 5, 2008 August 27, 2010
PFF Bank & Trust Pomona CA 28344 November 21, 2008 August 27, 2010
Downey Savings & Loan Newport Beach CA 30968 November 21, 2008 August 27, 2010
Community Bank Loganville GA 16490 November 21, 2008 August 27, 2010
Security Pacific Bank Los Angeles CA 23595 November 7, 2008 August 27, 2010
Franklin Bank, SSB Houston TX 26870 November 7, 2008 August 27, 2010
Freedom Bank Bradenton FL 57930 October 31, 2008 August 27, 2010
Alpha Bank & Trust Alpharetta GA 58241 October 24, 2008 August 27, 2010
Meridian Bank Eldred IL 13789 October 10, 2008 August 27, 2010
Main Street Bank Northville MI 57654 October 10, 2008 August 27, 2010
Washington Mutual Bank
(Including its subsidiary Washington Mutual Bank FSB) Henderson NV 32633 September 25, 2008 August 27, 2010
Ameribank Northfork WV 6782 September 19, 2008 August 27, 2010
Silver State Bank
En Español Henderson NV 34194 September 5, 2008 August 27, 2010
Integrity Bank Alpharetta GA 35469 August 29, 2008 August 27, 2010
Columbian Bank & Trust Topeka KS 22728 August 22, 2008 August 27, 2010
First Priority Bank Bradenton FL 57523 August 1, 2008 August 27, 2010
First National Bank of Nevada Reno NV 27011 July 25, 2008 August 27, 2010
First Heritage Bank, NA Newport Beach CA 57961 July 25, 2008 August 27, 2010
IndyMac Bank Pasadena CA 29730 July 11, 2008 August 27, 2010
First Integrity Bank, NA Staples MN 12736 May 30, 2008 August 27, 2010
ANB Financial, NA Bentonville AR 33901 May 9, 2008 August 27, 2010
Hume Bank Hume MO 1971 March 7, 2008 August 27, 2010
Douglass National Bank Kansas City MO 24660 January 25, 2008 August 27, 2010
Miami Valley Bank Lakeview OH 16848 October 4, 2007 August 27, 2010
NetBank Alpharetta GA 32575 September 28, 2007 August 27, 2010
Metropolitan Savings Bank Pittsburgh PA 35353 February 2, 2007 August 27, 2010
Bank of Ephraim Ephraim UT 1249 June 25, 2004 April 9, 2008
Reliance Bank White Plains NY 26778 March 19, 2004 April 9, 2008
Guaranty National Bank
of Tallahassee Tallahassee FL 26838 March 12, 2004 August 30, 2010
Dollar Savings Bank Newark NJ 31330 February 14, 2004 April 9, 2008
Pulaski Savings Bank Philadelphia PA 27203 November 14, 2003 July 22, 2005
First National Bank of Blanchardville Blanchardville WI 11639 May 9, 2003 September 21, 2010
Southern Pacific Bank Torrance CA 27094 February 7, 2003 October 20, 2008
Farmers Bank of Cheneyville Cheneyville LA 16445 December 17, 2002 October 20, 2004
Bank of Alamo Alamo TN 9961 November 8, 2002 March 18, 2005
AmTrade International Bank
En Español Atlanta GA 33784 September 30, 2002 September 11, 2006
Universal Federal Savings Bank Chicago IL 29355 June 27, 2002 April 9, 2008
Connecticut Bank of Commerce Stamford CT 19183 June 26, 2002 August 27, 2010
New Century Bank Shelby Township MI 34979 March 28, 2002 March 18, 2005
Net 1st National Bank Boca Raton FL 26652 March 1, 2002 April 9, 2008
NextBank, NA Phoenix AZ 22314 February 7, 2002 August 27, 2010
Oakwood Deposit Bank Co. Oakwood OH 8966 February 1, 2002 August 27, 2010
Bank of Sierra Blanca Sierra Blanca TX 22002 January 18, 2002 November 6, 2003
Hamilton Bank, NA
En Español Miami FL 24382 January 11, 2002 August 27, 2010
Sinclair National Bank Gravette AR 34248 September 7, 2001 February 10, 2004
Superior Bank, FSB Hinsdale IL 32646 July 27, 2001 August 27, 2010
Malta National Bank Malta OH 6629 May 3, 2001 November 18, 2002
First Alliance Bank & Trust Co. Manchester NH 34264 February 2, 2001 February 18, 2003
National State Bank of Metropolis Metropolis IL 3815 December 14, 2000 March 17, 2005
Bank of Honolulu Honolulu HI 21029 October 13, 2000 March 17, 2005
Last Updated 09/27/2010 cservicefdicdal@fdic.gov
Failed Bank List
The FDIC is often appointed as receiver for failed banks. This page contains useful information for the customers and vendors of these banks. This includes information on the acquiring bank (if applicable), how your accounts and loans are affected, and how vendors can file claims against the receivership. Failed Financial Institution Contact Search displays point of contact information related to failed banks.
This list includes banks which have failed since October 1, 2000.
Failed Bank List - CSV file (Updated on Mondays. Also opens in Excel - Excel Help)
Click arrows next to headers to sort in Ascending or Descending order.
Bank Name
City
State
CERT #
Closing Date
Updated Date
Haven Trust Bank Florida Ponte Vedra Beach FL 58308 September 24, 2010 September 27, 2010
North County Bank Arlington WA 35053 September 24, 2010 September 27, 2010
First Commerce Community Bank Douglasville GA 57448 September 17, 2010 September 22, 2010
Bank of Ellijay Ellijay GA 58197 September 17, 2010 September 23, 2010
ISN Bank Cherry Hill NJ 57107 September 17, 2010 September 21, 2010
The Peoples Bank Winder GA 182 September 17, 2010 September 22, 2010
Maritime Savings Bank West Allis WI 28612 September 17, 2010 September 22, 2010
Bramble Savings Bank Milford OH 27808 September 17, 2010 September 23, 2010
Horizon Bank Bradenton FL 35061 September 10, 2010 September 21, 2010
Sonoma Valley Bank Sonoma CA 27259 August 20, 2010 August 26, 2010
Los Padres Bank Solvang CA 32165 August 20, 2010 August 24, 2010
Butte Community Bank Chico CA 33219 August 20, 2010 August 25, 2010
Pacific State Bank Stockton CA 27090 August 20, 2010 August 24, 2010
ShoreBank Chicago IL 15640 August 20, 2010 August 24, 2010
Imperial Savings and Loan Association Martinsville VA 31623 August 20, 2010 August 26, 2010
Independent National Bank Ocala FL 27344 August 20, 2010 August 24, 2010
Community National Bank at Bartow Bartow FL 25266 August 20, 2010 August 24, 2010
Palos Bank and Trust Company Palos Heights IL 17599 August 13, 2010 August 17, 2010
Ravenswood Bank Chicago IL 34231 August 6, 2010 August 11, 2010
LibertyBank Eugene OR 31964 July 30, 2010 August 6, 2010
The Cowlitz Bank Longview WA 22643 July 30, 2010 August 26, 2010
Coastal Community Bank Panama City Beach FL 9619 July 30, 2010 August 6, 2010
Northwest Bank & Trust Acworth GA 57658 July 30, 2010 August 6, 2010
Bayside Savings Bank Port Saint Joe FL 57669 July 30, 2010 August 6, 2010
SouthwestUSA Bank Las Vegas NV 35434 July 23, 2010 July 30, 2010
Community Security Bank New Prague MN 34486 July 23, 2010 July 30, 2010
Thunder Bank Sylvan Grove KS 10506 July 23, 2010 July 30, 2010
Williamsburg First National Bank Kingstree SC 17837 July 23, 2010 July 30, 2010
Crescent Bank and Trust Company Jasper GA 27559 July 23, 2010 September 13, 2010
Sterling Bank Lantana FL 32536 July 23, 2010 July 30, 2010
Home Valley Bank Cave Junction OR 23181 July 23, 2010 July 30, 2010
Mainstreet Savings Bank, FSB Hastings MI 28136 July 16, 2010 July 22, 2010
Olde Cypress Community Bank Clewiston FL 28864 July 16, 2010 July 26, 2010
Turnberry Bank Aventura FL 32280 July 16, 2010 July 22, 2010
Metro Bank of Dade County Miami FL 25172 July 16, 2010 July 22, 2010
First National Bank of the South Spartanburg SC 35383 July 16, 2010 July 26, 2010
Woodlands Bank Bluffton SC 32571 July 16, 2010 July 22, 2010
Ideal Federal Savings Bank Baltimore MD 32456 July 9, 2010 July 12, 2010
Bay National Bank Baltimore MD 35462 July 9, 2010 July 19, 2010
Home National Bank Blackwell OK 11636 July 9, 2010 July 19, 2010
USA Bank Port Chester NY 58072 July 9, 2010 July 12, 2010
Peninsula Bank Englewood FL 26563 June 25, 2010 September 22, 2010
First National Bank Savannah GA 34152 June 25, 2010 August 26, 2010
High Desert State Bank Albuquerque NM 35279 June 25, 2010 August 26, 2010
Nevada Security Bank Reno NV 57110 June 18, 2010 August 26, 2010
Washington First International Bank Seattle WA 32955 June 11, 2010 August 26, 2010
TierOne Bank Lincoln NE 29341 June 4, 2010 September 10, 2010
Arcola Homestead Savings Bank Arcola IL 31813 June 4, 2010 August 26, 2010
First National Bank Rosedale MS 15814 June 4, 2010 August 26, 2010
Bank of Florida - Southwest Naples FL 35106 May 28, 2010 August 26, 2010
Bank of Florida - Tampa Tampa FL 57814 May 28, 2010 August 26, 2010
Granite Community Bank, NA Granite Bay CA 57315 May 28, 2010 August 26, 2010
Sun West Bank Las Vegas NV 34785 May 28, 2010 August 26, 2010
Bank of Florida - Southeast Fort Lauderdale FL 57360 May 28, 2010 August 26, 2010
Pinehurst Bank Saint Paul MN 57735 May 21, 2010 August 26, 2010
Midwest Bank and Trust Company Elmwood Park IL 18117 May 14, 2010 August 26, 2010
Southwest Community Bank Springfield MO 34255 May 14, 2010 August 26, 2010
New Liberty Bank Plymouth MI 35586 May 14, 2010 August 26, 2010
Satilla Community Bank Saint Marys GA 35114 May 14, 2010 August 26, 2010
1st Pacific Bank of California San Diego CA 35517 May 7, 2010 August 26, 2010
Towne Bank of Arizona Mesa AZ 57697 May 7, 2010 August 26, 2010
Access Bank Champlin MN 16476 May 7, 2010 August 26, 2010
The Bank of Bonifay Bonifay FL 14246 May 7, 2010 August 26, 2010
R-G Premier Bank of Puerto Rico
En Español Hato Rey PR 32185 April 30, 2010 August 26, 2010
Eurobank
En Español San Juan PR 27150 April 30, 2010 August 26, 2010
Frontier Bank Everett WA 22710 April 30, 2010 August 26, 2010
BC National Banks Butler MO 17792 April 30, 2010 August 26, 2010
Champion Bank Creve Coeur MO 58362 April 30, 2010 August 26, 2010
CF Bancorp Port Huron MI 30005 April 30, 2010 August 26, 2010
Westernbank Puerto Rico
En Español Mayaguez PR 31027 April 30, 2010 August 26, 2010
Amcore Bank, National Association Rockford IL 3735 April 23, 2010 August 26, 2010
Broadway Bank Chicago IL 22853 April 23, 2010 September 22, 2010
Citizens Bank and Trust Company of Chicago Chicago IL 34658 April 23, 2010 August 26, 2010
New Century Bank Chicago IL 34821 April 23, 2010 August 26, 2010
Lincoln Park Savings Bank Chicago IL 30600 April 23, 2010 August 26, 2010
Peotone Bank and Trust Company Peotone IL 10888 April 23, 2010 August 26, 2010
Wheatland Bank Naperville IL 58429 April 23, 2010 August 26, 2010
City Bank Lynnwood WA 21521 April 16, 2010 August 26, 2010
Tamalpais Bank San Rafael CA 33493 April 16, 2010 August 26, 2010
Innovative Bank Oakland CA 23876 April 16, 2010 August 26, 2010
Butler Bank Lowell MA 26619 April 16, 2010 August 26, 2010
Riverside National Bank of Florida Fort Pierce FL 24067 April 16, 2010 August 26, 2010
AmericanFirst Bank Clermont FL 57724 April 16, 2010 August 26, 2010
First Federal Bank of North Florida Palatka FL 28886 April 16, 2010 August 27, 2010
Lakeside Community Bank Sterling Heights MI 34878 April 16, 2010 August 27, 2010
Beach First National Bank Myrtle Beach SC 34242 April 9, 2010 August 27, 2010
Desert Hills Bank Phoenix AZ 57060 March 26, 2010 August 27, 2010
Unity National Bank Cartersville GA 34678 March 26, 2010 August 27, 2010
Key West Bank Key West FL 34684 March 26, 2010 August 27, 2010
McIntosh Commercial Bank Carrollton GA 57399 March 26, 2010 August 27, 2010
American National Bank Parma OH 18806 March 19, 2010 August 27, 2010
Century Security Bank Duluth GA 58104 March 19, 2010 August 27, 2010
State Bank of Aurora Aurora MN 8221 March 19, 2010 August 27, 2010
First Lowndes Bank Fort Deposit AL 24957 March 19, 2010 August 27, 2010
Bank of Hiawassee Hiawassee GA 10054 March 19, 2010 August 27, 2010
Appalachian Community Bank Ellijay GA 33989 March 19, 2010 August 27, 2010
Advanta Bank Corp. Draper UT 33535 March 19, 2010 September 16, 2010
Statewide Bank Covington LA 29561 March 12, 2010 August 27, 2010
Old Southern Bank Orlando FL 58182 March 12, 2010 August 27, 2010
The Park Avenue Bank New York NY 27096 March 12, 2010 August 27, 2010
LibertyPointe Bank New York NY 58071 March 11, 2010 August 27, 2010
Centennial Bank Ogden UT 34430 March 5, 2010 August 27, 2010
Waterfield Bank Germantown MD 34976 March 5, 2010 August 27, 2010
Bank of Illinois Normal IL 9268 March 5, 2010 August 27, 2010
Sun American Bank Boca Raton FL 27126 March 5, 2010 August 27, 2010
Rainier Pacific Bank Tacoma WA 38129 February 26, 2010 August 27, 2010
Carson River Community Bank Carson City NV 58352 February 26, 2010 August 27, 2010
La Jolla Bank, FSB La Jolla CA 32423 February 19, 2010 August 27, 2010
George Washington Savings Bank Orland Park IL 29952 February 19, 2010 August 27, 2010
The La Coste National Bank La Coste TX 3287 February 19, 2010 August 27, 2010
Marco Community Bank Marco Island FL 57586 February 19, 2010 August 27, 2010
1st American State Bank of Minnesota Hancock MN 15448 February 5, 2010 August 26, 2010
First Regional Bank Los Angeles CA 23011 January 29, 2010 August 26, 2010
American Marine Bank Bainbridge Island WA 16730 January 29, 2010 August 26, 2010
Community Bank and Trust Cornelia GA 5702 January 29, 2010 August 26, 2010
Marshall Bank, N.A. Hallock MN 16133 January 29, 2010 August 26, 2010
Florida Community Bank Immokalee FL 5672 January 29, 2010 August 26, 2010
First National Bank of Georgia Carrollton GA 16480 January 29, 2010 August 26, 2010
Columbia River Bank The Dalles OR 22469 January 22, 2010 August 26, 2010
Premier American Bank Miami FL 57147 January 22, 2010 August 26, 2010
Evergreen Bank Seattle WA 20501 January 22, 2010 August 26, 2010
Bank of Leeton Leeton MO 8265 January 22, 2010 August 26, 2010
Charter Bank Santa Fe NM 32498 January 22, 2010 August 26, 2010
Town Community Bank & Trust Antioch IL 34705 January 15, 2010 August 26, 2010
St. Stephen State Bank St. Stephen MN 17522 January 15, 2010 August 26, 2010
Barnes Banking Company Kaysville UT 1252 January 15, 2010 August 26, 2010
Horizon Bank Bellingham WA 22977 January 8, 2010 August 26, 2010
First Federal Bank of California, F.S.B. Santa Monica CA 28536 December 18, 2009 August 26, 2010
Imperial Capital Bank La Jolla CA 26348 December 18, 2009 August 27, 2010
Independent Bankers' Bank Springfield IL 26820 December 18, 2009 August 27, 2010
New South Federal Savings Bank Irondale AL 32276 December 18, 2009 August 27, 2010
Citizens State Bank New Baltimore MI 1006 December 18, 2009 August 27, 2010
Peoples First Community Bank Panama City FL 32167 December 18, 2009 August 27, 2010
RockBridge Commercial Bank Atlanta GA 58315 December 18, 2009 August 27, 2010
SolutionsBank Overland Park KS 4731 December 11, 2009 August 27, 2010
Valley Capital Bank, N.A. Mesa AZ 58399 December 11, 2009 August 27, 2010
Republic Federal Bank, N.A. Miami FL 22846 December 11, 2009 August 27, 2010
Greater Atlantic Bank Reston VA 32583 December 4, 2009 August 27, 2010
Benchmark Bank Aurora IL 10440 December 4, 2009 August 27, 2010
AmTrust Bank Cleveland OH 29776 December 4, 2009 August 27, 2010
The Tattnall Bank Reidsville GA 12080 December 4, 2009 August 27, 2010
First Security National Bank Norcross GA 26290 December 4, 2009 August 27, 2010
The Buckhead Community Bank Atlanta GA 34663 December 4, 2009 August 27, 2010
Commerce Bank of Southwest Florida Fort Myers FL 58016 November 20, 2009 August 27, 2010
Orion Bank Naples FL 22427 November 13, 2009 August 27, 2010
Century Bank, F.S.B. Sarasota FL 32267 November 13, 2009 August 27, 2010
Pacific Coast National Bank San Clemente CA 57914 November 13, 2009 August 27, 2010
Home Federal Savings Bank Detroit MI 30329 November 6, 2009 August 27, 2010
United Security Bank Sparta GA 22286 November 6, 2009 August 27, 2010
Prosperan Bank Oakdale MN 35074 November 6, 2009 August 27, 2010
United Commercial Bank San Francisco CA 32469 November 6, 2009 August 27, 2010
Gateway Bank of St. Louis St. Louis MO 19450 November 6, 2009 August 27, 2010
North Houston Bank Houston TX 18776 October 30, 2009 August 26, 2010
Madisonville State Bank Madisonville TX 33782 October 30, 2009 August 26, 2010
Citizens National Bank Teague TX 25222 October 30, 2009 August 26, 2010
Park National Bank Chicago IL 11677 October 30, 2009 August 26, 2010
Pacific National Bank San Francisco CA 30006 October 30, 2009 August 26, 2010
California National Bank Los Angeles CA 34659 October 30, 2009 August 26, 2010
San Diego National Bank San Diego CA 23594 October 30, 2009 August 26, 2010
Community Bank of Lemont Lemont IL 35291 October 30, 2009 August 26, 2010
Bank USA, N.A. Phoenix AZ 32218 October 30, 2009 August 26, 2010
Bank of Elmwood Racine WI 18321 October 23, 2009 August 26, 2010
Flagship National Bank Bradenton FL 35044 October 23, 2009 August 26, 2010
Hillcrest Bank Florida Naples FL 58336 October 23, 2009 August 26, 2010
American United Bank Lawrenceville GA 57794 October 23, 2009 August 26, 2010
Partners Bank Naples FL 57959 October 23, 2009 August 26, 2010
First DuPage Bank Westmont IL 35038 October 23, 2009 August 26, 2010
Riverview Community Bank Otsego MN 57525 October 23, 2009 August 26, 2010
San Joaquin Bank Bakersfield CA 23266 October 16, 2009 August 26, 2010
Warren Bank Warren MI 34824 October 2, 2009 August 26, 2010
Southern Colorado National Bank Pueblo CO 57263 October 2, 2009 August 26, 2010
Jennings State Bank Spring Grove MN 11416 October 2, 2009 August 26, 2010
Georgian Bank Atlanta GA 57151 September 25, 2009 August 26, 2010
Irwin Union Bank, F.S.B. Louisville KY 57068 September 18, 2009 August 26, 2010
Irwin Union Bank and Trust Company Columbus IN 10100 September 18, 2009 August 26, 2010
Venture Bank Lacey WA 22868 September 11, 2009 August 26, 2010
Brickwell Community Bank Woodbury MN 57736 September 11, 2009 August 26, 2010
Corus Bank, N.A. Chicago IL 13693 September 11, 2009 August 26, 2010
First State Bank Flagstaff AZ 34875 September 4, 2009 August 26, 2010
Platinum Community Bank Rolling Meadows IL 35030 September 4, 2009 August 26, 2010
Vantus Bank Sioux City IA 27732 September 4, 2009 August 26, 2010
InBank Oak Forest IL 20203 September 4, 2009 August 26, 2010
First Bank of Kansas City Kansas City MO 25231 September 4, 2009 August 26, 2010
Affinity Bank Ventura CA 27197 August 28, 2009 August 26, 2010
Mainstreet Bank Forest Lake MN 1909 August 28, 2009 August 26, 2010
Bradford Bank Baltimore MD 28312 August 28, 2009 August 26, 2010
ebank Atlanta GA 34682 August 21, 2009 August 26, 2010
First Coweta Bank Newnan GA 57702 August 21, 2009 August 26, 2010
CapitalSouth Bank Birmingham AL 22130 August 21, 2009 August 26, 2010
Guaranty Bank Austin TX 32618 August 21, 2009 August 26, 2010
Community Bank of Nevada Las Vegas NV 34043 August 14, 2009 August 26, 2010
Community Bank of Arizona Phoenix AZ 57645 August 14, 2009 August 26, 2010
Union Bank, National Association Gilbert AZ 34485 August 14, 2009 August 26, 2010
Colonial Bank Montgomery AL 9609 August 14, 2009 August 26, 2010
Dwelling House Savings and Loan Association Pittsburgh PA 31559 August 14, 2009 August 26, 2010
Community First Bank Prineville OR 23268 August 7, 2009 August 26, 2010
Community National Bank of Sarasota County Venice FL 27183 August 7, 2009 August 26, 2010
First State Bank Sarasota FL 27364 August 7, 2009 September 23, 2010
Mutual Bank Harvey IL 18659 July 31, 2009 August 27, 2010
First BankAmericano Elizabeth NJ 34270 July 31, 2009 August 27, 2010
Peoples Community Bank West Chester OH 32288 July 31, 2009 August 27, 2010
Integrity Bank Jupiter FL 57604 July 31, 2009 August 27, 2010
First State Bank of Altus Altus OK 9873 July 31, 2009 August 27, 2010
Waterford Village Bank Williamsville NY 58065 July 24, 2009 August 27, 2010
Security Bank of Gwinnett County Suwanee GA 57346 July 24, 2009 August 27, 2010
Security Bank of North Fulton Alpharetta GA 57430 July 24, 2009 August 27, 2010
Security Bank of Bibb County Macon GA 27367 July 24, 2009 August 27, 2010
Security Bank of Jones County Gray GA 8486 July 24, 2009 August 27, 2010
Security Bank of Houston County Perry GA 27048 July 24, 2009 August 27, 2010
Security Bank of North Metro Woodstock GA 57105 July 24, 2009 August 27, 2010
Temecula Valley Bank Temecula CA 34341 July 17, 2009 August 27, 2010
Vineyard Bank Rancho Cucamonga CA 23556 July 17, 2009 August 27, 2010
BankFirst Sioux Falls SD 34103 July 17, 2009 August 27, 2010
First Piedmont Bank Winder GA 34594 July 17, 2009 August 27, 2010
Bank of Wyoming Thermopolis WY 22754 July 10, 2009 August 27, 2010
Founders Bank Worth IL 18390 July 2, 2009 August 27, 2010
Millennium State Bank of Texas Dallas TX 57667 July 2, 2009 August 27, 2010
First National Bank of Danville Danville IL 3644 July 2, 2009 August 27, 2010
Elizabeth State Bank Elizabeth IL 9262 July 2, 2009 August 27, 2010
Rock River Bank Oregon IL 15302 July 2, 2009 August 27, 2010
First State Bank of Winchester Winchester IL 11710 July 2, 2009 August 27, 2010
John Warner Bank Clinton IL 12093 July 2, 2009 August 27, 2010
Mirae Bank Los Angeles CA 57332 June 26, 2009 August 27, 2010
MetroPacific Bank Irvine CA 57893 June 26, 2009 August 27, 2010
Horizon Bank Pine City MN 9744 June 26, 2009 August 27, 2010
Neighborhood Community Bank Newnan GA 35285 June 26, 2009 August 27, 2010
Community Bank of West Georgia Villa Rica GA 57436 June 26, 2009 August 27, 2010
Cooperative Bank Wilmington NC 27837 June 19, 2009 August 27, 2010
Southern Community Bank Fayetteville GA 35251 June 19, 2009 August 27, 2010
First National Bank of Anthony Anthony KS 4614 June 19, 2009 August 27, 2010
Bank of Lincolnwood Lincolnwood IL 17309 June 5, 2009 August 27, 2010
Strategic Capital Bank Champaign IL 35175 May 22, 2009 August 27, 2010
Citizens National Bank Macomb IL 5757 May 22, 2009 August 27, 2010
BankUnited, FSB Coral Gables FL 32247 May 21, 2009 August 26, 2010
Westsound Bank Bremerton WA 34843 May 8, 2009 August 26, 2010
America West Bank Layton UT 35461 May 1, 2009 August 26, 2010
Citizens Community Bank Ridgewood NJ 57563 May 1, 2009 August 27, 2010
Silverton Bank, NA Atlanta GA 26535 May 1, 2009 August 27, 2010
First Bank of Idaho Ketchum ID 34396 April 24, 2009 August 27, 2010
First Bank of Beverly Hills Calabasas CA 32069 April 24, 2009 August 27, 2010
Michigan Heritage Bank Farmington Hills MI 34369 April 24, 2009 August 27, 2010
American Southern Bank Kennesaw GA 57943 April 24, 2009 August 27, 2010
Great Basin Bank of Nevada Elko NV 33824 April 17, 2009 August 27, 2010
American Sterling Bank Sugar Creek MO 8266 April 17, 2009 August 27, 2010
New Frontier Bank Greeley CO 34881 April 10, 2009 August 27, 2010
Cape Fear Bank Wilmington NC 34639 April 10, 2009 August 27, 2010
Omni National Bank Atlanta GA 22238 March 27, 2009 August 27, 2010
TeamBank, NA Paola KS 4754 March 20, 2009 August 27, 2010
Colorado National Bank Colorado Springs CO 18896 March 20, 2009 August 27, 2010
FirstCity Bank Stockbridge GA 18243 March 20, 2009 August 27, 2010
Freedom Bank of Georgia Commerce GA 57558 March 6, 2009 August 27, 2010
Security Savings Bank Henderson NV 34820 February 27, 2009 August 27, 2010
Heritage Community Bank Glenwood IL 20078 February 27, 2009 August 27, 2010
Silver Falls Bank Silverton OR 35399 February 20, 2009 August 27, 2010
Riverside Bank of the Gulf Coast Cape Coral FL 34563 February 13, 2009 August 27, 2010
Sherman County Bank Loup City NE 5431 February 13, 2009 August 27, 2010
Corn Belt Bank & Trust Co. Pittsfield IL 16500 February 13, 2009 August 27, 2010
Pinnacle Bank of Oregon Beaverton OR 57342 February 13, 2009 August 27, 2010
County Bank Merced CA 22574 February 6, 2009 August 27, 2010
Alliance Bank Culver City CA 23124 February 6, 2009 August 27, 2010
FirstBank Financial Services McDonough GA 57017 February 6, 2009 August 27, 2010
Ocala National Bank Ocala FL 26538 January 30, 2009 August 27, 2010
Suburban FSB Crofton MD 30763 January 30, 2009 August 27, 2010
MagnetBank Salt Lake City UT 58001 January 30, 2009 September 22, 2010
1st Centennial Bank Redlands CA 33025 January 23, 2009 August 27, 2010
Bank of Clark County Vancouver WA 34959 January 16, 2009 August 27, 2010
National Bank of Commerce Berkeley IL 19733 January 16, 2009 August 27, 2010
Sanderson State Bank
En Español Sanderson TX 11568 December 12, 2008 August 27, 2010
Haven Trust Bank Duluth GA 35379 December 12, 2008 August 27, 2010
First Georgia Community Bank Jackson GA 34301 December 5, 2008 August 27, 2010
PFF Bank & Trust Pomona CA 28344 November 21, 2008 August 27, 2010
Downey Savings & Loan Newport Beach CA 30968 November 21, 2008 August 27, 2010
Community Bank Loganville GA 16490 November 21, 2008 August 27, 2010
Security Pacific Bank Los Angeles CA 23595 November 7, 2008 August 27, 2010
Franklin Bank, SSB Houston TX 26870 November 7, 2008 August 27, 2010
Freedom Bank Bradenton FL 57930 October 31, 2008 August 27, 2010
Alpha Bank & Trust Alpharetta GA 58241 October 24, 2008 August 27, 2010
Meridian Bank Eldred IL 13789 October 10, 2008 August 27, 2010
Main Street Bank Northville MI 57654 October 10, 2008 August 27, 2010
Washington Mutual Bank
(Including its subsidiary Washington Mutual Bank FSB) Henderson NV 32633 September 25, 2008 August 27, 2010
Ameribank Northfork WV 6782 September 19, 2008 August 27, 2010
Silver State Bank
En Español Henderson NV 34194 September 5, 2008 August 27, 2010
Integrity Bank Alpharetta GA 35469 August 29, 2008 August 27, 2010
Columbian Bank & Trust Topeka KS 22728 August 22, 2008 August 27, 2010
First Priority Bank Bradenton FL 57523 August 1, 2008 August 27, 2010
First National Bank of Nevada Reno NV 27011 July 25, 2008 August 27, 2010
First Heritage Bank, NA Newport Beach CA 57961 July 25, 2008 August 27, 2010
IndyMac Bank Pasadena CA 29730 July 11, 2008 August 27, 2010
First Integrity Bank, NA Staples MN 12736 May 30, 2008 August 27, 2010
ANB Financial, NA Bentonville AR 33901 May 9, 2008 August 27, 2010
Hume Bank Hume MO 1971 March 7, 2008 August 27, 2010
Douglass National Bank Kansas City MO 24660 January 25, 2008 August 27, 2010
Miami Valley Bank Lakeview OH 16848 October 4, 2007 August 27, 2010
NetBank Alpharetta GA 32575 September 28, 2007 August 27, 2010
Metropolitan Savings Bank Pittsburgh PA 35353 February 2, 2007 August 27, 2010
Bank of Ephraim Ephraim UT 1249 June 25, 2004 April 9, 2008
Reliance Bank White Plains NY 26778 March 19, 2004 April 9, 2008
Guaranty National Bank
of Tallahassee Tallahassee FL 26838 March 12, 2004 August 30, 2010
Dollar Savings Bank Newark NJ 31330 February 14, 2004 April 9, 2008
Pulaski Savings Bank Philadelphia PA 27203 November 14, 2003 July 22, 2005
First National Bank of Blanchardville Blanchardville WI 11639 May 9, 2003 September 21, 2010
Southern Pacific Bank Torrance CA 27094 February 7, 2003 October 20, 2008
Farmers Bank of Cheneyville Cheneyville LA 16445 December 17, 2002 October 20, 2004
Bank of Alamo Alamo TN 9961 November 8, 2002 March 18, 2005
AmTrade International Bank
En Español Atlanta GA 33784 September 30, 2002 September 11, 2006
Universal Federal Savings Bank Chicago IL 29355 June 27, 2002 April 9, 2008
Connecticut Bank of Commerce Stamford CT 19183 June 26, 2002 August 27, 2010
New Century Bank Shelby Township MI 34979 March 28, 2002 March 18, 2005
Net 1st National Bank Boca Raton FL 26652 March 1, 2002 April 9, 2008
NextBank, NA Phoenix AZ 22314 February 7, 2002 August 27, 2010
Oakwood Deposit Bank Co. Oakwood OH 8966 February 1, 2002 August 27, 2010
Bank of Sierra Blanca Sierra Blanca TX 22002 January 18, 2002 November 6, 2003
Hamilton Bank, NA
En Español Miami FL 24382 January 11, 2002 August 27, 2010
Sinclair National Bank Gravette AR 34248 September 7, 2001 February 10, 2004
Superior Bank, FSB Hinsdale IL 32646 July 27, 2001 August 27, 2010
Malta National Bank Malta OH 6629 May 3, 2001 November 18, 2002
First Alliance Bank & Trust Co. Manchester NH 34264 February 2, 2001 February 18, 2003
National State Bank of Metropolis Metropolis IL 3815 December 14, 2000 March 17, 2005
Bank of Honolulu Honolulu HI 21029 October 13, 2000 March 17, 2005
Last Updated 09/27/2010 cservicefdicdal@fdic.gov
Thursday, July 22, 2010
Sacramento Short Sale Blog July 22, 2010 - Loan Service Fraud ?
Banks Loose Huge Sums of money on real estate loans they manage for fannie-mae and freddie mac.
As sales cooled and bankers were being bankers, many sales were blown by many banks causing very high, needless losses to the owners of fannie and freddie loans that these banks... "manage-very poorly". The only profits being made are the service charges paid to the banks. Their policies always leav the borrowers and loan owners worse off and holding the bag. These loan service companies cause bigger losses than if realtor's just sold the houses and then sent the money to the beneficiary. The debt collectors and borrowers could work out the rest after the sale. This process could bypass these freaking debt collector / loan service companies so their deal killing clerks wouls stop milking their fannie and freddie investors. Often fannie and freddie investors never even see a short sale file, because it is buried by one of their obtuse clerks.
REO and traditional sales only produced one new mls sale transaction in Citrus Heights and Orangevale over the first 22 days of July, as 30 new short sale transactions were created.
The loan service companies for the banks are hurting the whole real estate industry, they should be eliminated from the short sale process.
Published by Mike Jaeger Live - 2010 -
As sales cooled and bankers were being bankers, many sales were blown by many banks causing very high, needless losses to the owners of fannie and freddie loans that these banks... "manage-very poorly". The only profits being made are the service charges paid to the banks. Their policies always leav the borrowers and loan owners worse off and holding the bag. These loan service companies cause bigger losses than if realtor's just sold the houses and then sent the money to the beneficiary. The debt collectors and borrowers could work out the rest after the sale. This process could bypass these freaking debt collector / loan service companies so their deal killing clerks wouls stop milking their fannie and freddie investors. Often fannie and freddie investors never even see a short sale file, because it is buried by one of their obtuse clerks.
REO and traditional sales only produced one new mls sale transaction in Citrus Heights and Orangevale over the first 22 days of July, as 30 new short sale transactions were created.
The loan service companies for the banks are hurting the whole real estate industry, they should be eliminated from the short sale process.
Published by Mike Jaeger Live - 2010 -
Wednesday, July 14, 2010
Friday, July 9, 2010
Sacramento Real Estate Sales Data Through 2010
Published by Mike Jaeger Live*** Publisher's Note ***:
If your email program is not displaying the chart graphs properly, please click on the following link which will take you to a web page that contains the graphs:
Show charts
TrendVisionTM
Published Jul. 2010
Location : All Sac. County areas combined
Number of Homes For Sale vs. Sold vs. Pended (Apr. 2009 - Jun. 2010)
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes - All Properties Prepared for you by: Mike Jaeger
Bedrooms: 0 - No Limit
Full Bathrooms: 0 - No Limit
Half Bathrooms: 0 - No Limit
Year Built: 0 - No Limit
1 month 1 year 15 months
May 10 June 10 % Change June 09 June 10 % Change Apr 09 June 10 % Change
For Sale 4365 4733 8.4% 4242 4733 11.6% 5176 4733 -8.6%
Sold 1753 1697 -3.2% 1809 1697 -6.2% 1783 1697 -4.8%
Pended 1757 2488 41.6% 2274 2488 9.4% 2475 2488 0.5%
If your email program is not displaying the chart graphs properly, please click on the following link which will take you to a web page that contains the graphs:
Show charts
TrendVisionTM
Published Jul. 2010
Location : All Sac. County areas combined
Number of Homes For Sale vs. Sold vs. Pended (Apr. 2009 - Jun. 2010)
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes - All Properties Prepared for you by: Mike Jaeger
Bedrooms: 0 - No Limit
Full Bathrooms: 0 - No Limit
Half Bathrooms: 0 - No Limit
Year Built: 0 - No Limit
1 month 1 year 15 months
May 10 June 10 % Change June 09 June 10 % Change Apr 09 June 10 % Change
For Sale 4365 4733 8.4% 4242 4733 11.6% 5176 4733 -8.6%
Sold 1753 1697 -3.2% 1809 1697 -6.2% 1783 1697 -4.8%
Pended 1757 2488 41.6% 2274 2488 9.4% 2475 2488 0.5%
Saturday, June 26, 2010
Wednesday, June 16, 2010
Short Sales and Foreclosures Winners and Losers Revealed - The Other Side of The Trade !
Cut the deal so you can't lose and keep it under the radar... are at the core of corruption today. Real Estate loans are filled with crime. The bigger the crime and thief.. the more likely there are paid off politicians and officials. Corruption is running rife in America. Media coverage? Watch this video and ask yourself... why did this story keep a low profile ?
Published by Mike Jaeger Live
Published by Mike Jaeger Live
Saturday, May 22, 2010
Written Release from Debt in a Short Sale ?
California, a written release from the shortage, in the short sale, is not seen very often. The state has rules that help owner occupied owners with their original loan, obtained when they purchased their home, referred to as purchase money financing. Other than that, loans are mostly written to allow recourse by the lender and this is why a new federal program can help some owners who obtained second loans, or who refinanced. A visit to the making home affordable dot gov website is a good idea for owner occupied short sellers, that are facing this problem. There is a new program to help you if your loan is a fannie or freddie loan. The program applies mostly to owners who do not qualify for a loan modification because their income is too low. The basic deal is that you can do a short sale where you agree to stay in the home, take care of it, market it for up to four months, and close the sale with a written release from the lender on the shortage owed on the loan, in the short sale. This plan makes since. The ideas are good, designed to sell homes at market rates rather than at a lower priced distressed sale. This can pay back more of the loan and can help the owner make a fresh start.
I see many companies advertising on my blog, offering to do short sales. These companies are not affiliated with HOPE Real Estate Inc., and Mike Jaeger. When looking for professional help it is a good idea to do some home work first. If you do, you will better choose your help. The new program is called many things. HAFA, Making Home Affordable, Obama short sale program, Fannie mae or freddie mac short sales, and other things to. I hope this blog can shed some light on what you are looking for. - Mike Jaeger - May 22, 2010.
PS I have two short sales so far in 2010 that have ended in good, written, final loan modifications instead of sales. I will write more about this, nest week.
Published by Mike Jaeger Live
I see many companies advertising on my blog, offering to do short sales. These companies are not affiliated with HOPE Real Estate Inc., and Mike Jaeger. When looking for professional help it is a good idea to do some home work first. If you do, you will better choose your help. The new program is called many things. HAFA, Making Home Affordable, Obama short sale program, Fannie mae or freddie mac short sales, and other things to. I hope this blog can shed some light on what you are looking for. - Mike Jaeger - May 22, 2010.
PS I have two short sales so far in 2010 that have ended in good, written, final loan modifications instead of sales. I will write more about this, nest week.
Published by Mike Jaeger Live
Sunday, May 16, 2010
4026 Foreclosure Sales in 60 days - Sacramento County, California - May 14, 2010 -
5-16-2010 NEWS real estate...
This blog follows the report I published at www.MikeJaegerLive.com , on May 14, 2010. That report announced the number of published foreclosure trustee sales now scheduled from May 7, 2010 through July 7, 2010 has increased to an astounding 4,026... just in Sacramento county. This blog is focused upon a few questions and concerns this raised for my clients. The blog should communicate to intermediate experience level. If you have no experience yet, or you are a professional with suggestions, questions, or concerns, please post or email them to me so others may benefit also.
4026 Trustee sale dates in Sacramento county, is a large number, it comes from a reliable source that I use in my daily business. I track these numbers to keep my finger on the pulse of our market. I monitor client files and check on what the lenders say. In trustee sale stages of foreclosure, critical decisions are being made quickly. If a client has begun mitigation, modification, short sale, forbearance, or another attempt to work out their loan problem with their lender, and their lender files a notice of trustee sale in California, these lenders may be able to perfect a foreclosure within 3 weeks. If short sale is a remedy my client desires, I act quickly to get their cash flows and net worth estimates organized with their legal and accounting help. I work with many small business owners, their CPAs and lawyers. I create and update real estae transactions including short sale files. Things happen fast when a trustee sale is filed. Short sale or loan workout... both are a lot of work and require lot's of attention.
Trustee sales are posted by many sources. The source I use keeps status notes; scheduled, postponed, canceled, sold, or sold to beneficiary. This tells me what will happen, or has happened on the sale date. I monitor the published amount to cure a default and what the opening bid may be before the auction. The lender, through their mitigation team, can change a status of a sale. They can instruct their blood sucking lawyers, "aka the trustee sale company or their legal department", to change a status on a sale. No order sent to legal ? Legal will sell the property at the auction. The lender makes the first bid. When the lenders win a bid at an auction, it means they are the high bidder. What does this suggest? The mitigation team may not even look at your requested short sale, if it comes in too late. Most mitigation teams want a completed short sale file, to be submitted three or four weeks before the sale date. This is why it is better to start sooner than later.
A completed short sale file will include; 1) Permission letter for the realtor and/or designated negotiator for the borrower. 2) Request for a short sale, including a specific program such as H.A.F.A. if they qualify, and/or all designated forms. 3) Seller contract with their broker and their own marketing plan to sell the asset including; market research, market plan, estimated value with comparable sales. 4) Seller financial materials; seller's two most recent form 1040 tax returns, signed with all related schedules, seller's two most recent bank statements, seller's two most recent pay stubs and/or if self employed their current profit and loss statements signed and showing most recent two months plus a year to date with a supporting signed summary letter from their CPA preferred, or signed by them. 4) Signed purchase contract with unrelated third party buyer and proof of buyer's ability to perform, plus open escrow with an estimated settlement statement. The completed short sale file request, often results in a decision by the mitigation team for the lender to postpone the sale date but may not generate a quick and desided negotiation. They can assign new negotiators, close files, and require the seller to open all new short sale files. The strategy wears down the seller, but it also loses many buyers. When a short sale file is open, the short sale can move forward.
Next week I will discuss some new H.A.F.A. short sale guidelines that can help some owner occupied home sellers obtain a written release from their lenders from owing a deficiency, caused by their refinance, after a short sale in California. Also, I will update you on some methods I use to negotiate second loans for my clients. Bankruptcy and short sales in California , is after that. Note if you are my client, this blog can help you to stay on track with your home work and with your short sale. If you are a future client or a reader, thank you for clicking some ads on my blog. These days every penny is appreciated. Have a great week.
Published by Mike Jaeger Live
This blog follows the report I published at www.MikeJaegerLive.com , on May 14, 2010. That report announced the number of published foreclosure trustee sales now scheduled from May 7, 2010 through July 7, 2010 has increased to an astounding 4,026... just in Sacramento county. This blog is focused upon a few questions and concerns this raised for my clients. The blog should communicate to intermediate experience level. If you have no experience yet, or you are a professional with suggestions, questions, or concerns, please post or email them to me so others may benefit also.
4026 Trustee sale dates in Sacramento county, is a large number, it comes from a reliable source that I use in my daily business. I track these numbers to keep my finger on the pulse of our market. I monitor client files and check on what the lenders say. In trustee sale stages of foreclosure, critical decisions are being made quickly. If a client has begun mitigation, modification, short sale, forbearance, or another attempt to work out their loan problem with their lender, and their lender files a notice of trustee sale in California, these lenders may be able to perfect a foreclosure within 3 weeks. If short sale is a remedy my client desires, I act quickly to get their cash flows and net worth estimates organized with their legal and accounting help. I work with many small business owners, their CPAs and lawyers. I create and update real estae transactions including short sale files. Things happen fast when a trustee sale is filed. Short sale or loan workout... both are a lot of work and require lot's of attention.
Trustee sales are posted by many sources. The source I use keeps status notes; scheduled, postponed, canceled, sold, or sold to beneficiary. This tells me what will happen, or has happened on the sale date. I monitor the published amount to cure a default and what the opening bid may be before the auction. The lender, through their mitigation team, can change a status of a sale. They can instruct their blood sucking lawyers, "aka the trustee sale company or their legal department", to change a status on a sale. No order sent to legal ? Legal will sell the property at the auction. The lender makes the first bid. When the lenders win a bid at an auction, it means they are the high bidder. What does this suggest? The mitigation team may not even look at your requested short sale, if it comes in too late. Most mitigation teams want a completed short sale file, to be submitted three or four weeks before the sale date. This is why it is better to start sooner than later.
A completed short sale file will include; 1) Permission letter for the realtor and/or designated negotiator for the borrower. 2) Request for a short sale, including a specific program such as H.A.F.A. if they qualify, and/or all designated forms. 3) Seller contract with their broker and their own marketing plan to sell the asset including; market research, market plan, estimated value with comparable sales. 4) Seller financial materials; seller's two most recent form 1040 tax returns, signed with all related schedules, seller's two most recent bank statements, seller's two most recent pay stubs and/or if self employed their current profit and loss statements signed and showing most recent two months plus a year to date with a supporting signed summary letter from their CPA preferred, or signed by them. 4) Signed purchase contract with unrelated third party buyer and proof of buyer's ability to perform, plus open escrow with an estimated settlement statement. The completed short sale file request, often results in a decision by the mitigation team for the lender to postpone the sale date but may not generate a quick and desided negotiation. They can assign new negotiators, close files, and require the seller to open all new short sale files. The strategy wears down the seller, but it also loses many buyers. When a short sale file is open, the short sale can move forward.
Next week I will discuss some new H.A.F.A. short sale guidelines that can help some owner occupied home sellers obtain a written release from their lenders from owing a deficiency, caused by their refinance, after a short sale in California. Also, I will update you on some methods I use to negotiate second loans for my clients. Bankruptcy and short sales in California , is after that. Note if you are my client, this blog can help you to stay on track with your home work and with your short sale. If you are a future client or a reader, thank you for clicking some ads on my blog. These days every penny is appreciated. Have a great week.
Published by Mike Jaeger Live
Monday, May 10, 2010
Friday, May 7, 2010
Big Banks Are Short Sale Managers Making Profits
An URGENT Warning from Martin D. Weiss and Money and Markets
Government Turns Blind Eye to Banks in Greatest Danger of Collapse
Forty-one more banks have failed in just three months — 160 within the last year — the FDIC's “problem” bank list is at a 15-year high … and the pace of its bank seizures is accelerating.With nearly all of the government's rescue efforts geared toward propping up a select few “too-big-to-fail” institutions, thousands of not-so-huge banks and S&Ls are now defenseless against surging commercial and residential loan defaults.
Troubles behind the scenes are getting so bad, bank CEOs and industry analysts now believe as many as 2,000 banks will fail before it's over. Is your bank one of them?
Unfortunately, the FDIC won't tell you which banks they are. Their list of “problem” banks is confidential. But ours is not.
We’ve just compiled our comprehensive list of 3,244 banks, S&Ls, plus life, health and annuity insurers we believe to be at significant risk of failure.
Let's relate this article to Short Sales and loan Modifications for a moment.
Short sales and loan modifications are products designed to profit and grow their monopolies. The big six American banks have designed this well. Keep this in mind when you try to understand the process that has been developed to obtain a short sale or a loan modification.
Most residential real estate loans are owned by an investor whom purchased your loan from a lender. This includes large companies and institutions who purchase large bundles of loans as well as small private investors whom purchase smaller loan bundles.
Wall street had expanded the selling of loans to these investors by designing and creating new financial products. No financial institution, "main street or wall street", has yet to be held liable for these products and the damages that were meated out to the world.
The first losers whom suffered from this product liability, were America's poorest people. They can't afford lawyers and they always suffer first. Many of our poor families were converted from skin in the game hope filled home owners back into insolvent , "broke"... wards of the state, "welfare" or low paid labor, "slaves". These people are now back to being tenants or homeless.
Working from the bottom up, lower classes first were converted into mostly low paid labor,"slaves" or wards of the state,"welfare recipients". Then middle classes were pillaged, which is still well underway. Assets and freedoms are being taken daily now from American middle class citizens by large, powerful institutions within our government and private sectors.
" The media spin tells us that we are losing our money". Small business owners are being converted into middle management,"aka slave drivers for larger companies", or they become health care casualties, "wrongful death and/or personal injuries caused by bad financial products created by big banks". Some will become mental health casualties," another form of personal injury". The majority of upper class people too, are seeing their assets taken away from them.
Assets and power are being systemically turned into the property of only a few families, who now have control over 80% of all the Public Corporations registered in the New York Stock Exchange. These are the big monopoly game winners, and they do control "Large Government, Large Business, and Large Military".
The short sales and loan modifications are a part of the process. Their is a feeding underway as businesses eat their competition. Many individuals are too distracted or busy until it is too late to even participate in how or when they are to be eaten alive. The design of short sales and loan modifications are planned to help the big banks grow their business. If you are wondering why they have created slow, ineffective, exhausting, redundant paperwork processes during the collapse of the housing industry, consider this. Big banks have more access and control to big government and big investors than do the smaller banks. Big banks have already negotiated to manage short sales, foreclosures, and loan modifications with the loan owners and with our government. Banks are paid to provide these services.
Slow or fast and why? Indications are this. Slow processes grow big banks and hurt the small banks. Banks mange the services for profits. Who are the losers in the slow process. Losers include the owner of the loans, the owner of the homes, and housing industry professionals who must provide far more more service for a smaller fee. This strategy by big banks grow their monopolies. Is it working? Yes. The article featured at the beginning of this blog shows this process to be well underway, but not covered by mainstream media. Big banks are feasting on the smaller banks, because they were saved by TARP and that liquidity gave them an unfair advantage against competition. They created the catastrophe by a collapse of the economy from their financial products, then they saved themselves, and then they destroyed their competition. Big government was collusive in this and they have a similar agenda that is only designed to save themselves and their families.
Big banks now control most of the American GDP. Six banks have grown their management over American money, so that in 2010 they manage over 60% of the Gross revenues created by America,"aka GDP". This is far above what they controlled a decade ago.Thank you for taking a moment to read this blog. It is not likely that it will be seen as part of our mainstream media. Thank God for a Free Web Press. Did you notice our FCC now wants to control the WEB too... Hmmmm what do you think about that?
This blog was written and
Published by www.MikeJaegerLive.com
- May 7, 2010 -
Wednesday, April 7, 2010
Sacramento Short Sales or Making Home Affordable loan modification ? - April 2010 -
Sacramento California 2010 - Short sales and loan modifications are controlling the residential home market as we enter April and this will determine supply in 2010. Builders are few and the economy is still on the ropes with more than 12.5% unemployment... Home values are more than 50 % off of the highs in 2007.
Produced by - Mike Jaeger Live-
Produced by - Mike Jaeger Live-
Thursday, April 1, 2010
Sacramento Short Sale Breaking News - April 1, 2010 -
Roseville California - GMAC mortgage servicing a government owned Fannie Mae loan, this week turned down a market bid of $250,000 for a short sale and instead they became the new owner of another California home, by bidding over $313,000 at a trustee sale. This will result in added operating expenses, management, and other costs as they begin to market the house. The house had already been on the market for 60 days with a starting price of $279,000 and a highest market bid $250,000. GMAC had details about the property, marketing, current market conditions, but they bought the house anyway? They ignored information and reports from professional short sale experts, including a lawyer and real estate broker. WHY? Lenders buy a third party opinion of value. known as a "BPO" - a broker price opinion -. The BPO is a local summary of information and opinions from a local real eststate agent. The lender will only pay $40 to $75 to obtain this report. From this report they derives their data which will dictate their decisions about foreclosure, loan modification, or short sale. They do not share their this opinion during any negotiaions with home owners or other professionals during negotiaions, causing asset managers to make many bad decisions. This property will be sold by the lender as an "REO", - real estate owned -. The lender will hire a new agent that may be the agent who did the BPO report. The company that was selling the property loses their contract. Final result ? Waste. Taxpayers pay the losses. The short sale seller, wasted effor, t. GMAC wins because they are paid service fees no matter how they mismanage. The BPO agent may win a contract to sell the house. The short sale broker loses their time and expenses.
PS Wachovia recently shared in a seminar some local statics showing short sales had produced 25% or more in net savings to the lender and borrowe,r as compared to the foreclosed bank owned sales.
Published by - Mike Jaeger Live -
PS Wachovia recently shared in a seminar some local statics showing short sales had produced 25% or more in net savings to the lender and borrowe,r as compared to the foreclosed bank owned sales.
Published by - Mike Jaeger Live -
Thursday, March 11, 2010
2010 - Sacramento California HOPE Real Estate - Loan Modification or Short Sale?
Free Consultation with HOPE Real Estate Inc.
- Mike Jaeger Live - March 11, 2010
California Update March 2010 - Sacramento and Placer county too, are asking this question after three years in a worsening market... Does loan modification or short sale, work better for me? More than 15% of all home loans in America are behind on their payments. California has a higher percentage than the national average and Sacramento has a higher percentage than California... The good news, Sacramento has a lower percentage than Stockton.
Someone tell Rush Limbo that Rio Linda now has all the REO he can buy, cheap too. HOPE Real Estate Inc. is a firm that does not work for the bank like other Real Estate firms. HOPE works for individuals and businesses, our HOPE is for America. Free consultations with HOPE Realtors can help you with planning, tax advisers, and lawyers. If your a seller in 2010 the odds are you owe more than your property is worth. Keep it and work with your lender? Sell it and work with your lender? Litigate? Walk away? Forebearance? Modifications? Short Sale? HOPE Real Estate Inc. has smart Commercial Investment Realtors trained to help you solve these problems.
Do you want to know more?
http://mikejaegerlive.com/ or email MikeJaeger@Live.com (916) 222-9095.
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