Search results for netbank

Avatar Posted by Mortgages 420 days ago (http://digg.com)
Category: Mortgage Lenders | Tags: netbank fdic mortgage defaults mortgage lenders
Netbank just got shutdown by the FDIC and the accounts are getting transferred. Cause: Too many mortgage defaults read more »
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Avatar Posted by Mortgages 420 days ago (http://digg.com)
Category: Mortgages
WASHINGTON - Federal regulators closed NetBank Inc. (NTBK), a $2.5 billion thrift based in Alpharetta, Ga., on Friday partly due to significant mortgage-related losses the company sustained in 2006 and 2007 read more »
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Avatar Posted by Mortgages 420 days ago (http://digg.com)
Category: Mortgages
Is something worse than the first great depression brewing?NetBank Inc., an online bank with $2.5 billion in assets, was shut down by the government on Friday because of an excessive level of mortgage defaults. read more »
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Avatar Posted by Mortgages 419 days ago (http://digg.com)
Category: Mortgages
NetBank Inc., an online bank with $2.5 billion in assets, was shut down by the government on Friday because of an excessive level of mortgage defaults. read more »
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Avatar Posted by Mortgages 419 days ago (http://digg.com)
Category: Mortgages
The online thrift bank has been said to have high-levels of mortgage-related losses. read more »
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Avatar Posted by Mortgages 418 days ago (http://digg.com)
Category: Mortgages
Georgia-based NetBank suffered severe losses in the year 2006 primarily from mortgage defaults, a lack of proper risk controls and fewer home loan originations, according to a bankruptcy court filing. read more »
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Avatar Posted by Mortgages 417 days ago (http://digg.com)
Category: Mortgages
If you remember the earlier days of the web, you'll probably remember NetBank, which was one of (if not the?) first internet-only banks out there. It offered high interest rates in the early days, making it popular with online folks in the late 90s. read more »
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Avatar Posted by Mortgages 417 days ago (http://digg.com)
Category: Mortgages
NetBank, which had been around since 1996 or so, finally folded under the weight of the housing market collapse. Apparently their home mortgage division had losses so severe that it swallowed the whole company. Anyone who had more than 100k in an account with them is basically screwed, and it goes without saying that anyone who still owned t read more »
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Avatar Posted by Mortgages 417 days ago (http://www.mortgagedaily.com)
Category: Mortgages
UBS reportedly expects to record a third quarter loss of up to $690 million, mainly related to deteriorating conditions in the U.S. subprime residential mortgage market. Citigroup announced it expects third quarter net income will be about 60 percent lower than in the prior-year quarter due to "dislocations in the mortgage-backed securities and credit markets, and deterioration in the consumer credit environment." But overshadowing the latest corporate activity was NetBank Inc.'s clos read more »
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Avatar Posted by Mortgages 416 days ago (http://digg.com)
Category: Mortgages
NetBank has closed down. Fortunately FDIC insurance will guarantee depositors the first $100,000. Lesson learnt: stay away from banks whose mortgage division is in doldrums. In this post there is a link to another informative article on which banks to stay away from. read more »
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Avatar Posted by Mortgages 416 days ago (http://digg.com)
Category: Mortgages
FAILING sub-prime mortgages have claimed their first US bank — online lender NetBank was shut down by US Government regulators at the weekend. read more »
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Avatar Posted by Mortgages 415 days ago (http://digg.com)
Category: Mortgages
Some former customers of NetBank and a key affiliate have encountered problems since the government seized the bank last week.Customers of Market Street Mortgage Corp., a NetBank sister company, whose loans were not approved before 3 p.m. Friday will have to seek funding through another lender, said Rickey McCullough of the Federal Deposi read more »
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Avatar Posted by Mortgages 413 days ago (http://digg.com)
Category: Mortgages
Banking and mortgage worries persist.... read more »
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Avatar Posted by Mortgages 361 days ago (http://www.mortgagedaily.com)
Category: Mortgages
Fieldstone Mortgage Co. filed for Chapter 11 bankruptcy protection on Friday, according to documents filed in the U.S. Bankruptcy Court District of Maryland. NetBank Inc., the former parent of subprime lender Meritage Mortgage, said in an SEC filing today it will liquidate in bankruptcy. Freddie Mac could see losses of between $1 billion to $5 billion on its $120 billion subprime AAA portfolio "if the recent credit spread widening does not reverse over the coming quarters," according read more »
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