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HomeFed Bank
HomeFed Bank was an American savings and loan association based in San Diego. It was founded by Charles K. Fletcher as Home Federal Savings and Loan Association in 1934 with $7,500, including $2,000 of his own and $7,500 from friends. At the time, new federal legislation in the Home Owners' Loan Corporation Act had created a new industry for mortgage finance. Home Federal's assets grew to $4 million within eight years. In 1983, it became a public company. It changed its name from Home Federal Savings and Loan to HomeFed Bank in 1989. That year, HomeFed achieved a company record $115.7 million in earnings. In November 1990, HomeFed warned federal regulators that its non-performing loans could increase by $250 million in the fourth quarter to a total of about $1 billion if the economy did not improve. At the time, it was the country's fifth-largest savings and loan with $19.1 billion in assets and 215 branches. The federal regulators took control of HomeFed in July 1992 when the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings And Loan Association
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. The terms "S&L" or "thrift" are mainly used in the United States; similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held (often called mutual savings banks), meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20percent of their lending ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Diego
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the List of United States cities by population, eighth most populous city in the United States and the county seat, seat of San Diego County, the List of the most populous counties in the United States, fifth most populous county in the United States, with 3,338,330 estimated residents as of 2019. The city is known for its mild year-round climate, natural deep-water harbor, extensive beaches and parks, long association with the United States Navy, and recent emergence as a healthcare and biotechnology development center. San Diego is the List of municipalities in California, second largest city in the U.S. state, state of California, after Los Angeles. Historically home to the Kumeyaay people, San Diego is frequently referred to as the "Birthplace of California", as it was the first site vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles K
Charles is a masculine given name predominantly found in English and French speaking countries. It is from the French form ''Charles'' of the Proto-Germanic name (in runic alphabet) or ''*karilaz'' (in Latin alphabet), whose meaning was "free man". The Old English descendant of this word was '' Ċearl'' or ''Ċeorl'', as the name of King Cearl of Mercia, that disappeared after the Norman conquest of England. The name was notably borne by Charlemagne (Charles the Great), and was at the time Latinized as ''Karolus'' (as in ''Vita Karoli Magni''), later also as '' Carolus''. Some Germanic languages, for example Dutch and German, have retained the word in two separate senses. In the particular case of Dutch, ''Karel'' refers to the given name, whereas the noun ''kerel'' means "a bloke, fellow, man". Etymology The name's etymology is a Common Germanic noun ''*karilaz'' meaning "free man", which survives in English as churl (< Old English ''ċeorl''), which developed its depr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Owners' Loan Corporation Act
The Homeowners Refinancing Act (also known as the Home Owners' Loan Act of 1933 and the Home Owners' Loan Corporation Act) was an Act of Congress of the United States passed as part of Franklin Delano Roosevelt's New Deal during the Great Depression to help those in danger of losing their homes. The act, which went into effect on June 13, 1933, provided mortgage assistance to homeowners or would-be homeowners by providing them money or refinancing mortgages. Sponsored by Senate Majority Leader Joe Robinson of Arkansas, it also created the Home Owners' Loan Corporation (HOLC), building on Herbert Hoover's Federal Loan Bank Board. The Corporation lent low-interest money to families in danger of losing their homes to foreclosure. By the mid-1930s, the HOLC had refinanced nearly 20% of urban homes in the country. History New Deal Having won a decisive victory in the United States presidential election of 1932, and with his party having decisively swept Congressional elections ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-performing Loan
A non-performing loan (NPL) is a bank loan that is subject to late repayment or is unlikely to be repaid by the borrower in full. Non-performing loans represent a major challenge for the banking sector, as it reduces the profitability of banks, and is often presented as preventing banks from lending more to businesses and consumers, which in turn slows down economic growth (although this theory is disputed). In the European Union, the management of the NPLs resulting of the global financial crisis of 2008 has become a politically sensitive topic, culminating in 2017 with the decision by the Council to task the European Commission to launch an action plan to tackle NPLs. The action plan supports the fostering of a secondary market for NPLs and the creation of Asset Management Companies (aka bad bank). In December 2020, this action plan was revised in the wake of the Covid19 pandemic crisis. Definition Non-performing loans are generally recognised as per the following criteria: * Pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resolution Trust Corporation
The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office of Thrift Supervision (OTS) as a consequence of the savings and loan crisis of the 1980s. It also took over the insurance functions of the former Federal Home Loan Bank Board (FHLBB). Between 1989 and mid-1995, the Resolution Trust Corporation closed or otherwise resolved 747 thrifts with total assets of $394 billion. Its funding was provided by the Resolution Funding Corporation (REFCORP) which still exists to support the debt obligations it created for these functions. History The Resolution Trust Corporation was established in 1989 by the Financial Institutions Reform Recovery and Enforcement Act (FIRREA), and it was overhauled in 1991., Resolution Trust C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Western Bank (1919–1997)
Great Western Bank (previously known as Great Western Savings & Loan) was a large retail bank that operated primarily in the Western United States. Great Western's headquarters were in Chatsworth, California. At one time, Great Western was one of the largest savings and loan in the United States, second only to Home Savings of America. The bank was acquired by Washington Mutual in 1997 for $6.8 billion. Great Western Bank was held by ''Great Western Financial Corporation'' ("GWFC"), a corporation organized under the laws of the state of Delaware that was traded on the New York Stock Exchange under the stock symbol "GWF". History Early years Great Western was founded in 1919 in California as a savings and loan association. Great Western can trace its lineage to the incorporation in 1925 of a savings and loan association called "Great Western Building and Loan Association" that was located in downtown Los Angeles and was founded by a group of immigrant investors from Czechoslovak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Savings Of America
H.F. Ahmanson & Co. was a California holding company named after millionaire Howard F. Ahmanson Sr. It was best known as the parent of Home Savings of America, once one of the largest savings and loan associations in the United States. Early history Howard Fieldstead Ahmanson, the company's founder, was born in Omaha, Nebraska on July 1, 1906.Alternate Link via . Considered by his father to be a genius by the age of five, Ahmanson founded the H.F. Ahmanson company in 1927, before graduating from the . Ahmanson' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Interstate Bancorp
First Interstate Bancorp was a bank holding company based in the United States that was taken over in 1996 by Wells Fargo. Headquartered in Los Angeles, it was the nation's eighth largest banking company. The name (along with the company logo) has continued to be used in the banking world after the merger by First Interstate BancSystem who had been using the name under a franchise agreement since 1984. History In 1928, Amadeo Giannini, born in California to Italian immigrant parents, formed a holding company, the Transamerica Corporation, to consolidate his existing financial ventures, which began business with $1.1 billion in assets and both banking and non-banking activities. From the 1930s through the mid-1950s, Transamerica made a number of acquisitions of banks and other financial corporations throughout the western United States, creating the framework for the later First Interstate system. In 1953, regulators succeeded in forcing the separation of Transamerica Corporatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Federal Bank Of California
The First Federal Bank of California was a community bank founded in 1929, and encompassed most of Southern California. As of 2009, it operated approximately thirty-nine branches. First Federal Bank, which offered both personal and business financial services, was a wholly owned subsidiary of First Fed Financial Corp. The banks financial goals were to retain superior quality, staying at the forefront of technology and focusing on organic growth and profitability. On Friday, December 18, 2009, First Federal Bank of California, a Federal Savings Bank (First Federal Bank of California), Santa Monica, CA was closed by the Office of Thrift Supervision. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. All deposit accounts were transferred to OneWest Bank, FSB, Pasadena, CA. All 39 of its branches reopened as branches of OneWest. History First Federal Bank of California was founded in 1929, and later became an institution called First Federal Saving ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Largest U
A ''list'' is any set of items in a row. List or lists may also refer to: People * List (surname) Organizations * List College, an undergraduate division of the Jewish Theological Seminary of America * SC Germania List, German rugby union club Other uses * Angle of list, the leaning to either port or starboard of a ship * List (information), an ordered collection of pieces of information ** List (abstract data type), a method to organize data in computer science * List on Sylt, previously called List, the northernmost village in Germany, on the island of Sylt * ''List'', an alternative term for ''roll'' in flight dynamics * To ''list'' a building, etc., in the UK it means to designate it a listed building that may not be altered without permission * Lists (jousting), the barriers used to designate the tournament area where medieval knights jousted * ''The Book of Lists'', an American series of books with unusual lists See also * The List (other) * Listing (di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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