JPMorgan Chase’s acquisition of the assets of Washington Mutual, the largest bank or thrift to fail in U.S. history, means more tight lending standards for Orange County, say brokers and lenders. Wamu was the #4 mortgage lender in O.C. and California this year, according to MDA DataQuick.
That tight lending comes because JPMorgan has long been [...]
Washington Mutual was closed today by the Office of Thrift Supervision, which named the FDIC as receiver. JPMorgan Chase & Co. is buying the thrift’s deposits and branches. All deposits are safe. Here’s what you need to know:
The deal will cost JPMorgan Chase $1.9 billion, and the bank said in a statement it planned to [...]
Governor Schwarzenegger today vetoed AB 1830, saying it “overreaches” in an attempt to prevent another subprime fiasco.
He said the bill — which on high-cost loans limits lender payments to brokers, limits prepayment penalties and prohibits negative amortization — only applies to state-chartered lenders and would put them at a disadvantage to federally regulated companies.
Assemblyman Ted [...]
Home prices continue to soften in Huntington Beach, said Ken Dixon, a real estate agent withwho specializes in selling foreclosures, in a recent email.
I am tracking 10 bank-owned properties in Surf City, including three listed by Dixon.
One of his listings is 6531 Lennox (). The house found a buyer after the price was reduced by [...]
The Federal Reserve today released an agreement with Corona-based Vineyard National Bancorp, restricting its payment of dividends and use of debt.
The bank, which has offices in Irvine and Anaheim, must notify the Federal Reserve’s San Francisco office before paying dividends and must get approval from the Fed before accepting any payments from its own [...]
Smoke-free policies are extremely effective at reducing smoking rates, exposure to secondhand smoke, and even smoking-related heart disease, new research shows.
The report, by an International Agency for Cancer Research working group, also found smoke-free rules don’t affect business in restaurants or bars.
The researchers analyzed available evidence and found:
* Implementation of smoke-free policies substantially decreases secondhand [...]
The economic burden of providing health insurance for employees increased more for small U.S. businesses than for larger businesses from 2000 to 2005, but most small businesses have not stopped offering the benefit, a new study finds.
The study, released Friday by the Rand Corp., of more than 2,500 small, medium and large companies found that [...]
Iain MacKenzie joins Collins Stewart with 27 years of treasury and money market experience to head up the new function in the Jersey office alongside the existing fixed income desks. Both desks will provide clients with cash management services and foreign exchange solutions for discretionary and advisory services.Collins Stewart Wealth Management head Neil Darke says: [...]
The life office is expanding its existing little T tele-underwriting system to allow Primecares nurses and GPs to speak confidentially to applicants over the phone about their medical history.While L&G already speaks to customers about disclosures made on their application form, Primecare will give the firm the capacity to cover four more medical conditions through [...]
In a speech to the American public yesterday, Bush underlined the need for the Government to intervene in liquidising the US markets.Bush said: I am a strong believer in free enterprise, so my natural instinct is to oppose Government intervention. Under normal circumstances I would have followed this course. With the situation becoming more precarious [...]
