Avatar Posted by Mortgages 8 hours ago (http://www.mortgagedaily.com)
Category: Mortgages
A letter from the American Bankers Association to the chairman of the Securities and Exchange Commission requests that the regulator override a staff position on FAS Statement No. 157 issued by the Financial Accounting Standards Board. ABA explained that FASB's guidance requires that liquidity risk, from the buyer's perspective, be included in the cash-flow calculation -- leading back to distressed value as the basis for valuation. ABA also noted that large banks have too many transactions to read more »
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Avatar Posted by admin 1 day 18 hours ago (http://ep.bankrate.com)
Category: Mortgages
Presidential nominee Sen. John McCain proposed spending $300 billion to buy bad mortgages. What impact will it have? read more »
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Avatar Posted by Mortgages 1 day 8 hours ago (http://www.mortgagedaily.com)
Category: Mortgages
The Illinois Department of Financial Professional Regulation's Division of Banks closed down Meridian Bank, according to a statement. National Bank has assumed the $37 million in deposits of Meridian. In addition, the Michigan Office of Financial and Insurance Regulation closed Main Street Bank. Monroe Bank & Trust took over Main Street's $86 million in deposits. read more »
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