One convicted executive is not enough Palm Coast, FL – April 21, 2011 – Former Chairman of Taylor, Bean and Whitaker, Lee Farkas, has been found guilty on all fourteen felony counts by a jury in Alexandria VA. Farkas "masterminded one of the largest bank fraud schemes in history, said Assistant Attorney General Lanny Breuer. The nearly […]
Tesoro/Quail West Bankruptcy Trustee should probably have taken a different legal path, going after Credit Suisse rather than Bobby Ginn and Lubert-Adler. Palm Coast, FL – April 20, 2011 – An Order filed Tuesday by Paul G. Hyman, Chief Judge of the U. S. Bankruptcy Court in the Southern District of Florida dismissed Fraudulent Transfer […]
Florida’s existing home and condo sales were up in March as well. Palm Coast, FL – April 20, 2011 – Florida’s existing home and existing condo sales rose in March, according to the latest housing data released by Florida Realtors®. Existing home sales increased 12 percent last month with a total of 18,522 homes sold […]
Elliot Spitzer says a Merrill Lynch lawyer once told him, ”Be careful, we have powerful friends.” Palm Coast, FL – April 19, 2011 – In an Anderson Cooper interview on CNN, Elliot Spitzer says U.S. Attorney General Eric Holder should prosecute Goldman Sachs for its role in the financial meltdown or resign. Spitzer also reveals that […]
A Canadian is said to be looking at the golf courses along with future development rights. The NOPC outcome will likely be a key factor. Palm Coast, FL – April 19, 2011 – [Updated 4/21] I’m told that there’s a potential buyer for the Bobby Ginn-developed Hammock Beach Resort in Palm Coast, FL. The buyer […]
A report released by the U.S. Senate paints a scathing picture of mortgage fraud on Wall Street enabled by the malfeasance and blatant disregard for oversight by Federal agencies that regulated them. Palm Coast, FL – April 18, 2011 A report released by the U.S. Senate paints a scathing picture of mortgage fraud on Wall […]
Each of those mortgage servicers is registered to do business in their respective states as non-bank lenders. Therefore these companies do not fall under the jurisdiction of either the OCC, Fed, or OT Palm Coast, FL – April 17, 2011 Not every mortgage servicer was required to sign consent orders with the Office of the […]
A weekly analysis of the economic data released during the past week, and how current economic conditions are affecting the real estate market. Palm Coast, FL – April 15, 2011 – Every week the Research staff analyzes key data releases and explain what they mean for you and your business. In this update, we give […]
Properties purchased through Orange County Clerk of Courts foreclosure sales at one price are appearing in the county Property Appraiser’s Office records at a higher price. Palm Coast, FL – April 15, 2011 Properties purchased through Orange County Clerk of Courts foreclosure sales at one price are appearing in the county Property Appraiser’s Office records […]
Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs? Palm Coast, FL – April 14, 2011 America has two national budgets, one official, one unofficial. The official budget is public record and hotly debated: Money comes in as taxes and goes out as jet […]