The loan blog

Patriot National Bancorp Reports 2008 ResultsFOXBusinessThe net loss for 2008 was primarily due to non-cash charges relating to an $11.3 million provision for loan loss reserves relating to higher levels of non-accrual loans, a one time write off of goodwill in the amount of $1.4 million, and a $1.1 million …FHLB of Boston Warns of [...]

IndustryWeek

Federal Plan to Aid Small Businesses Is Flawed, Lenders SayWashington Post, United StatesBy David Cho Two weeks after President Obama announced a $15 billion initiative to spark lending for small businesses, every major provider of these kinds of loans says the plan will not work as designed. The conditions attached to the program, …Sources of Small [...]

OpEdNews

Geithner's Toxic-Loan Plan Could Be Toxic for BanksTIME31, 2009 The Treasury Department's program to buy toxic loans could cost banks as much as $210 billion. That's the losses the financial firms will book from selling poorly performing loans as part of the government's recently announced Public-Private …Obama’s Ersatz CapitalismNew York TimesTreasury's Very Private Asset FundWall [...]

WWJ

Chrysler Financial lays off workersDetroit Free Press, United StatesThe layoffs come about two weeks after Chrysler LLC Chief Executive Bob Nardelli said the company’s finance unit needed a second injection of $1.5 billion to help finance customers who can’t get loans elsewhere. The US Treasury approved the first round …Chrysler's financial arm sheds 80 jobsThe [...]

Yuba County Tops Nation in Upside Down MortgagesKHSLA Northern California county is leading the pack, when it comes to underwater mortgages. A real estate research group says in Yuba County 78 percent of the mortgage debt is held by homeowners who owe more than their house is worth. …Underwater mortgages deepest in YubaAppeal-DemocratYuba County tops [...]

Fitch Affirms 230 Classes from 51 SLM FFELP Student Loan TransactionsFOXBusinessNEW YORK, Mar 31, 2009 (BUSINESS WIRE) —-Fitch Ratings affirms 230 classes of Federal Family Education Loan Program (FFELP) student loan asset-backed notes issued by SLM Corp. The collateral securing the debt consists of FFELP loans, …New student loan program to begin summer semesterUniversity ChronicleDispute [...]

Fitch Rates Black & Decker's $350MM Senior Notes 'BBB'FOXBusinessProceeds are expected to be primarily used to refinance short-term debt. –Issuer Default Rating (IDR) 'BBB'; –Short-Term IDR 'F2'; –Commercial Paper 'F2'; –Revolving Credit Facilities 'BBB'; –Bank Term Loan'BBB'; –Senior Unsecured Notes 'BBB'. …PRESS RELEASE: Fitch: BB(ind)/F4(ind) To Singan Projects LtdEasyBourse.comOcwen's Servicing Advance Capacity Causes Fitch Double-TakeMortgageorbFitch [...]

OFF THE RUN: Short-Term Funding Mkt Thaws, But Stress Still OnWall Street JournalBy Min Zeng A DOW JONES NEWSWIRES COLUMN NEW YORK (Dow Jones)–Something cheerful for the short-term funding market: the first quarter is ending without any dramatic spikes in borrowing costs. This breaks with the volatility seen around quarter ends …

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Borders Group Reports Q4/Full-Year 2008 ResultsFOXBusiness… including deferred tax asset impairments, store asset impairments, goodwill impairment, store closure costs, severance costs, professional fees related to strategic alternatives and amortization of the term loan discount and debt issuance costs, …

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Huntington Bancshares Announces Restructuring of Franklin Credit …FOXBusinessHuntington noted that it acquired control of the approximately 30000 mortgages that formerly represented the collateral to its Franklin commercial loan. This provides Huntington the flexibility to accelerate problem loan resolution to the benefit of …Huntington Bancshares restructures relationship with Franklin …RTT Newsall 14 news articles

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