Banking's flotsam and jetsam's David Ellis looks into what happens to the 'nontraditional' assets regulators seize during bank shutdowns. The story also highlights the emergence of some new bank investors.
And while the bidding for real estate and loans sales has been dominated by institutional investors so far, there are indications that average Joes are also starting to express interest in scooping up toxic assets. Bill Bartmann, a former distressed bank debt investor who recently published a book entitled "Bailout Riches" aimed at teaching people how to profit from buying bad loans on the cheap, notes several of his students have invested as little as $5,000 in loans once owned by failed banks.
Jul 1, 2009 7:38 AM

Newsflash: Loan mods stink

More sobering news from the mortgage front: The OCC and OTS have released a report that chronicles the explosion in loan modifications early this year – up 55 percent from late 2008 – and gives us more evidence that those mods just don't work well. SEE ALSO: Our print edition cover story this week on foreclosures.
Jun 30, 2009 9:19 PM

Fitch: First Tennessee not out of the woods

Credit ratings group Fitch says First Tennessee, which in many ways got a headstart on dealing with last year's banking crisis, still has a credit mess on its hands.
Jun 30, 2009 12:59 PM

Avenue hires operations director

Samuels-led bank also promotes two others to senior management posts
Jun 30, 2009 12:15 PM

In case you thought the worst had passed...

In this week's Nashville Post print edition, Tom Wood takes a closer look at Davidson County's foreclosure filings, which are spiking this month and seemingly putting to rest the idea that the housing market is gradually returning to something resembling health.
Another factor that a number of real estate and financial professionals cited is the possibility that an especially poorly underwritten batch of loans has met with an inevitable fate. As we all know by now, lenders got to be far too creative for their own good in the roaring middle years of this decade. Suppose, hypothetically, that there was a fad among local mortgage brokers in the late winter of 2004 to sell 5/1 ARMs — adjustable-rate mortgages that begin with a five-year, interest-only term at a set rate, shifting after five years to an adjustable rate (usually higher) with required payment of principal along with the interest. Early this year, those loans would have repriced. Borrowers who could not keep up would typically have faced foreclosure notices after 90 days in default.
Jun 29, 2009 12:10 AM

Faces of foreclosure

The traditional process and its relationship with bankruptcy appears to have been broken [From our print edition featured in Monday's City Paper]
Jun 28, 2009 10:53 AM

Still on shaky ground

Another jump in foreclosures suggests more trouble for the region's homeowners [From our print edition in Monday's City Paper]
Jun 28, 2009 10:32 AM

Looking ahead to higher rates relays the essence of a Deutsche Bank report that analyzes the potential impact of higher interest rates on a number of the country's largest banks. Among banks with a good-sized Nashville footprint, Regions Financial (Ticker: RF) comes out of the mix favorably.
Jun 23, 2009 10:31 PM

Avenue adds two to board

Former Crescent exec, HR Group boss join two-year-old venture
Jun 22, 2009 12:36 PM

A new future for bankers

Reuters checks in with news that the CIA wants the brains that are leaving Wall Street.
"It's a different mindset perhaps than serving a company or serving profit as a bottom line," he said. "As long as they can make that attitude switch from profit being the motivator to serving their country, I think they'll fit in very well with us."
Jun 19, 2009 11:56 AM