FDIC

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FDIC Chairman Bair Defends Extend and Pretend

For more than a year now, multifamily equity funds, owners, and brokers have complained about the “extend and pretend” policy in the banking industry that have allowed owners with troubled loans to keep their assets. Yesterday, at the 2010 ULI Fall Meeting, Shelia Bair, Sheila Bair, chairman of the Federal Deposit Insurance Corporation (FDIC) defended that policy. Read more

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More Distress Sales Coming as Banks Return to Health

With the banking sector continuing to lick its wounds and slowly return to health, more distressed multifamily assets are expected to hit the streets next year. Read more

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FDIC Moves to Stave Off Distress

Two recent efforts by the federal government will further help lenders and owners ride through the storm by providing cover to keep amending and extending loans. Read more

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FDIC Sells Corus Bank’s $4.5 Billion Loan Portfolio to Investment Group

Starwood Capital and other investors now control properties that include 12,000 condo units. Read more

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Smaller Banks are Falling Fast

While the largest banks have been bolstered by TARP funds, equity-raising efforts, and asset sales, smaller community and regional banks are still struggling with balance sheets bloated with bad commercial real estate loans. Read more

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Fate of Corus’ Assets Remains Up in the Air

Almost two weeks after taking over failed Chicago-based lender Corus, the Federal Deposit Insurance Corporation (FDIC) is quietly going through the process of selling an equity stake in an LLC, which contains the $5 billion in failed Corus loans. Read more

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