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First American Hires Execs, Buying Rest of Subsidiary
First American Corp. continues to shore up plans to separate its title insurance business and information services unit with the appointment of executives and plans to absorb all of another subsidiary. The Santa Ana-based company named Anan...
$100 Million Stock Issue Sought by Wilshire State
Wilshire Bancorp Inc., the Koreatown holding company for Wilshire State Bank, is getting ready to try its hand at raising capital. The company has filed a shelf registration with the Securities and Exchange Commission to raise up to $100 mi...
Acacia's Investment Plan Provides Money to Owners
Newport Beach-based developer Acacia Real Estate Group Inc. has cash to spend in Orange Countys down real estate market. The company, which President David Pittman describes as a boutique developer, built a number of for-sale condominiums i...
Reverse Mortgage Lending Sees Consolidation, Stimulus Boost
Local reverse mortgage lenders have seen some shuffling among their ranks. As the financial crisis crippled some, others have become larger, with investors showing interest in startups. Reverse lenders cater to seniors, lending money based...
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...
States Ring in the New Year with Tougher Laws on Distracted Driving
CHICAGO As the clock strikes midnight on Dec. 31st you may want to think twice about calling or texting your Happy New Year greetings while driving in Illinois, Kansas, New Hampshire or Oregon because you could be breaking new state laws th...
Texting drivers six times more likely to crash
People who send text messages while driving are six times more likely to crash, a new study finds. The research adds to a mountain of evidence showing that texting or talking on mobile phones while driving is dangerous. Texting seems to be...
Pa. among least-strict states for teen drivers
In New Jersey, a newly licensed teenage driver can take only one passenger from outside his household for a ride, a provision soon to become even more stringent. Delaware also imposes limits on teen drivers' passengers, as do 41 other state...
Today's Picks
AIG Confirms Loss of Directors at Banque AIG
(BestWire Services Via Acquire Media NewsEdge) American International Group Inc
Kingsway Financial Services Leads AMBG Tuesday that
The AMBG closed Tuesday, Oct. 20, at 830.53 (-0.80%). Of the 15 A.M. Best stock
Divided Democrats Put Obama In Health Care Bind
As President Obama struggles to regain control of the health care debate, he's
Why Does This Doctor Want to Be a Lawyer?
S In December, the same month he turns 44, Levine will graduate from Stetson
Washington State Enacts STOLI Bill With Mandatory
Washington Gov. Christine Gregoire signed a life settlement bill that includes
Sun Alliance Expects to Make Profit in 2010
The premium revenue Sun Alliance Insurance (China) Ltd. gained in China in the
Sens.Dodd,Corker Try to Bring New Life to Financial
Sen. Chris Dodd, the chief author of the Senate's financial system reform
Six in ten say Turn off family medical care because of
Copyright: Unknown Source: PR Newswire US Wordcount: PUBLIC CONTINUES TO
Rising unemployment forces in Florida, 21 other states
Rising unemployment has now forced 22 states, including Florida, to borrow
Hanover Insurance launches new management liability
US-based The Hanover Insurance Group has launched a new nonprofit management
Geithner seeks new powers over financial corporations
Copyright: The Associated Press. All rights reserved. This material May not be
Mitsui Sumitomo To Offer Coverage Against Cloud Risk
Mitsui Sumitomo Insurance Co. is offering companies protection against computer
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