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  •   Minnesota Bank Shuttered by Regulators
Multiple bank closures have become commonplace on Friday evenings, but last week, regulators shut the doors on just one institution – 1st American State Bank of Minnesota. The bank operated two local branches in Hancock, with $16.3 million in deposits and $18.2 million in total assets. It was acquired by Community Development Bank, also in Minnesota.
DSNews.com,Admin,   02/09/2010

  •   Bank of America Extends More Than $758 Billion in Credit During 2009
Bank of America extended more credit in 2009 than any other U.S. bank, according to the bank's fourth quarter Lending & Investing Initiative Report. Released Friday, the report noted the extension of more than $758 billion in credit during 2009, including nearly $180 billion during the fourth quarter alone. The report outlines the bank's progress in driving economic recovery through 10 key areas, including lending to consumers and businesses of all sizes, support for municipalities and nonprofits, community development, and other initiatives.
DSNews.com,Admin,   02/09/2010

  •   ResCap`s Ditech Operations Relocating to Pennsylvania
GMAC Financial Services has announced plans to relocate its Ditech business, which is part of the company's mortgage subsidiary Residential Capital, LLC (ResCap), to the corporate center in Fort Washington, Pennsylvania. GMAC said Ditech "was not performing up to expectation in its previous configuration," and expects the move to improve operational efficiencies by leveraging a common infrastructure for both Ditech and GMAC Mortgage.
DSNews.com,Admin,   02/09/2010

  •   RE/MAX Dominates Twin Cities Metro Market in 2009
Despite the static housing economy, RE/MAX, a global real estate company based in Denver, earned No. 1 market share status in the Twin Cities 13-county metro for number of listings sold between January 1, 2009 and December 31, 2009. In addition to earning No. 1 market share in the Twin Cities 13-county metro, RE/MAX agents proved to be the most productive agents in the metro for 2009, the company said.
DSNews.com,Admin,   02/09/2010

  •   Commercial Real Estate Lenders Looking to Rebuild Portfolios
The distressed commercial real estate market has made it difficult for potential property owners and opportunistic investors to secure funding for new deals, as widespread losses on such assets have led banks to shy away from extending credit in recent months. But according to new data from Jones Lang LaSalle that tide appears to have turned, with a growing number of lenders to the commercial real estate sector anticipating an increase in loan production this year.
DSNews.com,Admin,   02/09/2010

  •   iEmergent Updates 2010-2014 Mortgage Volume Forecast
Noting a decrease in both purchase volume and refinance activity from 2009, the first-quarter update to iEmergent's formal 2010-2014 Mortgage Volume Forecast was recently released by the Des Moines, Iowa-based market research, forecasting, and advisory services firm
DSNews.com,Admin,   02/09/2010