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    • FHA suspends OKC and Claremore lenders

      Federal Housing Administration's Mortgagee Review Board permanently withdraws FHA approval of Oklahoma City-based Strategic Mortgage Corporation and Claremore-based ProMortgage Inc. Additionally, the MRB withdrew approval of Americare Invest...

    • Extraordinary Expenses Created High Loss, 1st Pacific Says

      1st Pacific Bank of California, which announced the sale of the bank last month to First Business Bank, reported a second quarter net loss of $855,000, compared to a net loss of $429,000 for the like quarter of last year. The bank blamed th...

    • Developer Puts Condo Project in Chapter 11

      Developer Sonny Astani has put his Concerto condo project in downtown L.A. into Chapter 11 bankruptcy in an unusual effort to hasten the completion of the $300 million development. The projects construction lender, Corus Bank of Chicago, wa...

    • Mini-Profiles of Top Corporate Attorneys

      Reason Im a Lawyer: A talented lawyer has the opportunity to influence peoples lives and events. This has proven to be the case in my experience. Most Challenging Case: The near bankruptcy of the Flying Tiger Line Inc., a refinance of its e...

    • Golden State Mutual Seized by Insurance Commissioner

      Golden State Mutual Life Insurance Co., the Los Angeles-based company that failed to make a profit for five straight years, was seized by California regulators after the insurer sold assets to cover losses. Golden State, which operates in 12...

    • FDIC Asks Court to Stop Concerto Condo Sales

      The Federal Deposit Insurance Corp. has filed a motion in U.S. Bankruptcy Court seeking to prevent developer Sonny Astani from closing sales on 77 loft units at his Concerto condo project, the developer said. Astani placed his project at Fi...

    • Colony Buys FDIC Loans

      Investment vehicles managed by Colony Capital LLC of Santa Monica have bought a portfolio of mostly commercial real estate loans from the Federal Deposit Insurance Corp., it was announced Friday. The 1,200 loans, 75 percent of which are del...

    • Bair:End Too Big To Fail, FDIC Model for Non-Banks

      The following is an excerpt of a speech by Federal Deposit Insurance Corp. Chairman Sheila Bair at Kansas State University last week. While government intervention has been successful in preventing wider failures, it has also introduced mor...

    • Fiesta Insurance Plans 18 New Stores after Sales Growth

      In an increasingly automated industry, Huntington Beach-based Fiesta Insurance Franchise Corp. is growing by meeting its customers face to face. The 10-year-old company sells car, home and business insurance offered by 60 companies such as...

    • Bankers Report Perks and Pitfalls of Stimulus Funds

      Financial turmoil in the third and fourth quarters of 2008 led three state chartered banks in the greater San Fernando Valley area to apply for assistance from the $700 billion Troubled Asset Relief Program. Kum said First California Bank w...

    • Farmers to Slash Hundreds of Jobs at Woodland Hills Location

      Farmers Insurance Group, California's largest auto insurer, announced plans to cut 554 jobs this year at the offices of its newly acquired 21st Century Insurance unit in Woodland Hills. The decision to reduce the Woodland Hills workforce, c...

    • ABA Fund gets $5.2 Million for Pro Bono Services, Education

      The American Bar Endowment announced $5.2 million in grant awards to the American Bar Association Fund for Justice and Education and the American Bar Foundation recently. Our donations this year to the ABA Fund for Justice and Education and...

    • Zenith Income Plummets in Fiscal 2009

      Net income dropped by 64 percent for the 2009 fiscal year at Zenith National Insurance Corp. when compared with the previous year. Still, the Woodland Hills-based firms president and chairman said the company was in excellent financial cond...

    • Zenith to Pay Dividend,Zenith National Insurance Corp.

      Zenith National Insurance Corp., headquartered in Woodland Hills, has declared a regular quarterly cash dividend of $0.50 per share on its outstanding shares of common stock. The dividend is payable May 14 to stockholders of record at the c...

    • Sens.Dodd,Corker Try to Bring New Life to Financial Reform Negotiations

      Sen. Chris Dodd, the chief author of the Senate's financial system reform legislation and chairman of the committee where it's being negotiated, selected Sen. Bob Corker to participate in subsequent bipartisan wrangling after talks stalled...

    • AG finds herself on 2 sides of a dispute

      Attorney General Martha Coakley finds herself on both sides of a legal dispute over the states competitive auto insurance system. Related Senate race coverage Senate race coverage * In short race, Coakley picks targets carefully * Abortion...

    • Florida officials searching for fake GEICO agent

      Officials in three Florida counties are searching for a 21-year-old man who falsely claimed to work for GEICO, selling fictitious insurance documents. Alex Shankar Feliciano has outstanding warrants in Orange, Osceola and Polk counties, acc...

    • Title Insurers Improve Modestly, but Headwinds Persist in 2010

      While the title industry's premium volume and profitability deteriorated significantly in 2008, trends have been improving modestly in the second half of 2009. The housing market has begun to revive, and home sales also have been increasing...

    • Abitration Forums Gives Back $4 Million In Fees

      Insurance companies and self-insured participants in Arbitration Forums, Inc. (AF) programs will save $4 million in filing fees and other charges over the course of 2010, W. Russ Smith, AF president and chief executive officer, announced. T...

    • The $126K Agent Stimulus Plan

      The $126,000 Agent Stimulus Plan.Join Raymond J. Ohlson, CLU President of The Ohlson Group, Inc. as he takes you through this easy to implement and easy to build upon marketing program. If you are looking for a way to jump start your 2010 p...
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