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U.S. Home-Builder Confidence Falls for Third-Straight Month Amid High Mortgage Rates
By
Ed Frankl, Dow Jones Newswires
Last Updated:
Oct. 17, 2023 at 4:08 PM EDT
Confidence among U.S. home builders fell for the third month in a row in October, slipping further below the breakeven threshold as high mortgage costs weigh on demand for homes, according to data from the National Association of Home Builders released Tuesday.
Here are the report's main takeaways:
-- The NAHB's housing-market index, in conjunction with Wells Fargo, which gauges builder confidence in the market for single-family housing, fell to 40 in October from 44 in September. This suggests mortgage rates above 7%, driven by the Federal Reserve's higher-for-longer monetary-policy stance, are continuing to weigh on builder confidence, NAHB said.
-- The reading was weaker than expected by economists' consensus, which forecast 44, according to a poll compiled by The Wall Street Journal ahead of the release.
-- In October, 32% of builders reported cutting home prices, unchanged from the previous month but still the highest rate since December 2022. Meanwhile, 62% of builders provided sales incentives of all forms in October, up from 59% in September and tied with the previous high for this cycle also set in December, the NAHB said.
-- Builders have reported lower levels of buyer demand as some, particularly younger ones, are priced out of the market because of higher interest rates, NAHB Chair Alicia Huey said.
-- "Higher rates are also increasing the cost and availability of builder development and construction loans, which harms supply and contributes to lower housing affordability," Huey added.
-- The three major components of the housing market index declined in October. The index gauging current sales conditions ticked down four points to 46, the one charting sales expectations in the next half-year dropped five points to 44, and the gauge measuring traffic of prospective buyers dipped four points to 26, NAHB said.
https://www.barrons.com/livecoverage/stock-market-today-101723/card/u-s-home-builder-confidence-falls-for-third-straight-month-amid-high-mortgage-rates-V92RHm87DOIl6YA880qu
The 30-year mortgage rate hits a new 23-year high, pushing closer to 8%
Phil Rosen Oct 17, 2023, 12:16 PM CDT
Justin Sullivan/Getty
Rates on the 30-year fixed mortgage hit 7.92% on Tuesday, Mortgage News Daily's Rate Index showed.
That's the highest level for the most popular US home loan in 23 years.
High mortgage rates, expensive home prices, and low inventory have strained the US housing market.
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Bull
The average rates on the 30-year fixed mortgage hit 7.92% on Tuesday, according to Mortgage News Daily's index.
That's the highest mark in 23 years, and with the latest 12 basis-point increase, average monthly payments are hovering at $1,820 per month
https://markets.businessinsider.com/news/commodities/mortgage-rates-housing-market-outlook-home-prices-buyers-sellers-investors-2023-10
Climbing Mortgage Rates Are Keeping Home Buyers Away. Brace for Another Hit.
By
Shaina Mishkin
Updated Oct 16, 2023, 8:41 am EDT / Original Oct 16, 2023, 1:00 am EDT
Existing-home sales data for September, set for release this week, is expected to show that sales slumped to the lowest level in more than a decade as mortgage rates rose. More bad news could be around the corner.
https://www.barrons.com/articles/real-estate-property-prices-great-reset-8543e3a8
What?… this isnt wamu money coming to us like all the other?
Powerball has an option called multi-draw …. You can buy up to 15 drawings ahead of time.. you don’t have to wait..
kingpindg, well, I could have missed it.. but I looked at African Oil Week (Oct 9-13) and African Energy Week (Oct 16-20) Programs/Agendas/Speakers and I don't see ERHC, or reps from Sao Tome and Principe. Like you, surprising... Hmmm
ND9
It doesn't look like ERHC Energy is on the list of companies attending.. I just cut and pasted partical listing of where they should be, alphabetically..
ND9
**********************
Companies Attending - List up to date as of Oct 2023
Eni
Enverus
Equinor
ERCE Equipoise Ltd.
Ernst & Young
Eswatini National Petroleum
https://26199117.fs1.hubspotusercontent-eu1.net/hubfs/26199117/AOW23/AOW23_PDF/AOW%202023%20Companies%20Attending.pdf?__hstc=49421945.2e4ef408123bf89cbafa79ff43a01320.1696710642216.1696710642216.1696710642216.1&__hssc=49421945.2.1696710642216&__hsfp=3264562785
ron_66271, I don't think so... for example, below, Franklin Bank failed on Nov 7, 2008. However, it is #'d 10021.
ND9
***********************************
10021 Franklin Bank, SSB Houston TX 10/01/2023
Franklin Bank, SSB Houston TX 26870 Prosperity Bank November 7, 2008 10021
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/
10/6/2023 Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 10/06/2023
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10021 Franklin Bank, SSB Houston TX 10/01/2023
10025 First Georgia Community Bank Jackson GA 10/01/2023
10027 Haven Trust Bank Duluth GA 10/01/2023
10050 New Frontier Bank Greeley CO 10/01/2023
10102 Union Bank, NA Gilbert AZ 10/01/2023
10329 Enterprise Banking Company McDonough GA 10/01/2023
10378 One Georgia Bank Atlanta GA 10/01/2023
10427 Home Savings of America Little Falls MN 10/01/2023
10428 Global Commerce Bank Doraville GA 10/01/2023
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on October 3, 2023.
Debra A. Decker,
Executive Secretary.
[FR Doc. 2023–22296 Filed 10–5–23; 8:45 am]
BILLING CODE 6714–01–P
https://www.federalregister.gov/documents/2023/10/06/2023-22296/notice-of-termination-of-receiverships
10/6/2023 Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 10/06/2023
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10021 Franklin Bank, SSB Houston TX 10/01/2023
10025 First Georgia Community Bank Jackson GA 10/01/2023
10027 Haven Trust Bank Duluth GA 10/01/2023
10050 New Frontier Bank Greeley CO 10/01/2023
10102 Union Bank, NA Gilbert AZ 10/01/2023
10329 Enterprise Banking Company McDonough GA 10/01/2023
10378 One Georgia Bank Atlanta GA 10/01/2023
10427 Home Savings of America Little Falls MN 10/01/2023
10428 Global Commerce Bank Doraville GA 10/01/2023
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on October 3, 2023.
Debra A. Decker,
Executive Secretary.
[FR Doc. 2023–22296 Filed 10–5–23; 8:45 am]
BILLING CODE 6714–01–P
https://www.federalregister.gov/documents/2023/10/06/2023-22296/notice-of-termination-of-receiverships
Average long-term U.S. mortgage rate reaches 7.49 percent, highest level in over two decades
Economy Oct 5, 2023 2:50 PM EDT
LOS ANGELES (AP) — The cost of financing a home surged again this week as the average long-term U.S. mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers.
The average rate on the benchmark 30-year home loan rose to 7.49 percent from 7.31 percent last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.66 percent.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loan, also increased. The average rate rose to 6.78 percent from 6.72 percent last week. A year ago, it averaged 5.90 percent, Freddie Mac said.
WATCH: How rising mortgage rates are increasing the cost of living for millions of Americans
High rates can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already out of reach for many Americans. They also discourage homeowners who locked in rock-bottom rates two years ago from selling. The average rate on a 30-year mortgage is now more than double what it was two years ago, when it was just 2.99 percent.
The combination of elevated rates and low home inventory has worsened the affordability crunch by keeping home prices near all-time highs even as sales of previously occupied U.S. homes have fallen 21 percent through the first eight months of this year versus the same stretch in 2022.
Home loan applications fell to the lowest level since 1995 last week, according to the Mortgage Bankers Association. At the same time, the median monthly payment listed on home loan applications has been rising. It was $2,170 in August, up 18 percent from a year earlier.
“Several factors, including shifts in inflation, the job market and uncertainty around the Federal Reserve’s next move, are contributing to the highest mortgage rates in a generation,” said Sam Khater, Freddie Mac’s chief economist. “Unsurprisingly, this is pulling back homebuyer demand.”
This is the fourth consecutive week that mortgage rates have moved higher. The weekly average rate on a 30-year mortgage has remained above 7 percent since mid-August and is now at the highest level since Dec. 8, 2000, when it averaged 7.54 percent.
Mortgage rates have been climbing along with the 10-year Treasury yield, which lenders use as a guide to pricing loans. The yield has surged in recent weeks amid worries that the Federal Reserve is likely to keep its main interest rate at a high level for a long time in its bid to lower inflation.
The central bank has already pulled its main interest rate to the highest level since 2001 in hopes of extinguishing high inflation, and it indicated last month it may cut rates by less next year than earlier expected.
The threat of higher rates for longer has pushed Treasury yields to heights unseen in more than a decade. On Tuesday, the yield on the 10-year Treasury jumped to 4.80 percent, its highest level since 2007. It has since eased back and was at 4.71 percent in midday trading Thursday. It was at roughly 3.50 percent in May and just 0.50 percent early in the pandemic.
“The gap between the yield on the 10-year Treasury and the rate on a 30-year fixed rate mortgage has been around 3 percentage points, so as the Treasury yield approaches 5 percent, an 8 percent mortgage rate does not seem unlikely,” said Lisa Sturtevant, chief economist at Bright MLS.
While mortgage rates don’t necessarily mirror the Fed’s rate increases, they tend to track the yield on the 10-year Treasury note. Investors’ expectations for future inflation, global demand for U.S. Treasurys and what the Fed does with interest rates can influence rates on home loans.
By — Alex Veiga, Associated Press
https://www.pbs.org/newshour/economy/average-long-term-u-s-mortgage-rate-reaches-7-49-percent-highest-level-in-over-two-decades
Sure, sure, 15 yrs ago in 2008, jpm knew that in 2023, the fdic would seize first republic so they could use that money to pay us wamu escrow holders…. Of course it was all planned out 15 yrs ago….. geeeze
Look at first bank on list... receivership started January 2009... some tiny bank you've never heard of and yet it's taken all this time for receivership to close... terrible
Look at first bank on list... receivership started January 2009... some tiny bank you've never heard of and yet it's taken all this time for receivership to close... terrible
9/27/2023 Notice to All Interested Parties of Intent To Terminate Receiverships
A Notice by the Federal Deposit Insurance Corporation on 09/27/2023
Notice is Hereby Given
that the Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for the institutions listed below, intends to terminate its receivership for said institutions.
Notice of Intent To Terminate Receiverships
Fund Receivership name City State Date of appointment of receiver
10029 Bank of Clark County Vancouver WA 01/16/2009
10221 Lincoln Park Savings Bank Chicago IL 04/23/2010
10334 Firstier Bank Louisville CO 01/28/2011
10524 Seaway Bank and Trust Chicago IL 01/27/2017
10535 Ericson State Bank Ericson NE 02/14/2020
10538 Almena State Bank Almena KS 10/23/2020
The liquidation of the assets for each receivership has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors. Based upon the foregoing, the Receiver has determined that the continued existence of the receiverships will serve no useful purpose. Consequently, notice is given that the receiverships shall be terminated, to be effective no sooner than thirty days after the date of this notice. If any person wishes to comment concerning the termination of any of the receiverships, such comment must be made in writing, identify the receivership to which the comment pertains, and be sent within thirty days of the date of this notice to: Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Section, 600 North Pearl, Suite 700, Dallas, TX 75201. No comments concerning the termination of the above-mentioned receiverships will be considered which are not sent within this timeframe.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on September 22, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023–21039 Filed 9–26–23; 8:45 am]
BILLING CODE 6714–01–P
https://www.federalregister.gov/documents/2023/09/27/2023-21039/notice-to-all-interested-parties-of-intent-to-terminate-receiverships
9/27/2023 Notice to All Interested Parties of Intent To Terminate Receiverships
A Notice by the Federal Deposit Insurance Corporation on 09/27/2023
Notice is Hereby Given
that the Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for the institutions listed below, intends to terminate its receivership for said institutions.
Notice of Intent To Terminate Receiverships
Fund Receivership name City State Date of appointment of receiver
10029 Bank of Clark County Vancouver WA 01/16/2009
10221 Lincoln Park Savings Bank Chicago IL 04/23/2010
10334 Firstier Bank Louisville CO 01/28/2011
10524 Seaway Bank and Trust Chicago IL 01/27/2017
10535 Ericson State Bank Ericson NE 02/14/2020
10538 Almena State Bank Almena KS 10/23/2020
The liquidation of the assets for each receivership has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors. Based upon the foregoing, the Receiver has determined that the continued existence of the receiverships will serve no useful purpose. Consequently, notice is given that the receiverships shall be terminated, to be effective no sooner than thirty days after the date of this notice. If any person wishes to comment concerning the termination of any of the receiverships, such comment must be made in writing, identify the receivership to which the comment pertains, and be sent within thirty days of the date of this notice to: Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Section, 600 North Pearl, Suite 700, Dallas, TX 75201. No comments concerning the termination of the above-mentioned receiverships will be considered which are not sent within this timeframe.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on September 22, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023–21039 Filed 9–26–23; 8:45 am]
BILLING CODE 6714–01–P
https://www.federalregister.gov/documents/2023/09/27/2023-21039/notice-to-all-interested-parties-of-intent-to-terminate-receiverships
JPMorgan builds up apartment-loan leader from WaMu rubble
By David Henry
JULY 1, 201512:05 AM
UPDATED 8 YEARS AGO
NEW YORK (Reuters) - In September 2008, JPMorgan Chase & Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that they had just won in a U.S. government auction.
They found something unexpectedly good: about $30 billion of mortgages on apartment buildings, which earned strong returns whether the economy was performing well or not.
“It was an unexpected bonus,” JPMorgan Chief Executive Jamie Dimon told Reuters in an interview, adding that the apartment lending business is the single most valuable asset that JPMorgan acquired in the auction.
Washington Mutual’s apartment lending business was the biggest of its kind in the United States and Dimon has made it even bigger. JPMorgan now holds some 20 percent of the U.S. bank loans on apartment buildings.
Before the crisis, the bank ranked closer to 20th. JPMorgan now has $52 billion of these loans outstanding, giving it a stronghold in a market that is increasingly important in the United States after the housing crisis brought down the homeownership rate.
Within JPMorgan, apartment lending is a relatively small business, accounting for less than 2 percent of its $2.6 trillion of assets. But the unit is seen as a model for how JPMorgan wants to run its lending business overall: make smart lending decisions in good times, like now, so that it can be strong enough to buy distressed assets on the cheap during bad times.
That’s how JPMorgan’s apartment lending business grew so much during the crisis: the bank bought assets from Washington Mutual and Citigroup Inc at low prices, which are generating solid income now. The bank is plowing income from crisis assets back into its business, to make it more efficient and better prepare it for the next downturn.
For example, JPMorgan is building systems that will allow it to approve loans in 15 to 20 days, half its current time, which is already fast by industry standards. The bank believes that when it can make loans faster than rivals, it will win more business without having to lower its credit standards.
Lending fast is critical for the niche that JPMorgan focuses on: small apartment building owners, who are served by fewer lenders than big building owners, and will therefore generally pay banks slightly higher rates—around 3.625 percent instead of the 3.5 percent charged for loans of more than $3 million.
The bank’s apartment business could be tested in at least two ways in coming years. As the Federal Reserve raises interest rates, the value of apartment buildings, which are bond-like assets, could decline, making it harder for some landlords to refinance their loans.
Also, in some metro areas developers have built many new apartment buildings, which could cut into the value of the collateral backing JPMorgan’s loans. But the bank is working to reduce its risk by taking steps like avoiding markets where building is happening at a torrid pace.
CHERRY-PICKING
JPMorgan’s business is headed by former Washington Mutual executive Al Brooks, 58. He had been with JPMorgan for barely a year, and the economy was still fragile, when Dimon asked him what apartment lending assets he wanted to buy. Brooks said that he had heard Citigroup wanted to sell its apartment loans as part of its plan to shrink the company after having been bailed out by the government.
Within days, JPMorgan was negotiating to buy $3.5 billion of loans from Citi, which was willing to let him and his team choose loans one-by-one, he recalled in an interview with Reuters.
“We cherry-picked them,” Brooks said. “There were great customers in there. These were 100 percent performing loans with long repayment histories. We felt really fortunate.”
A Citigroup spokesman declined to comment.
Those loans helped boost JPMorgan’s apartment lending earnings, which reached $600 million in 2014. Expenses in the unit, which include the costs of processing loan applications and running offices, were only 22 percent of net interest income, low in an industry where 35 percent is considered good, Brooks said.
Low expenses boost a key measure of profitability for JPMorgan—its return on equity from the business is about 17 percent, Brooks said. That is at least two percentage points better than the return reported by New York Community Bancorp Inc, whose portfolio of apartment loans accounts for almost half of its assets, and, according to data from SNL Financial, is the second-biggest of any bank.
To make smaller loans profitable, Brooks automates as much of the loan process as possible, which JPMorgan tries to do with other high-volume businesses, such as issuing credit cards and mortgages on houses. Brooks is now upgrading his systems to allow loan work to be done by different people at the same time, instead of following a rigid assembly line sequence that can be held up by a single person.
“They have built a great business there,” said Mark Myers, head of commercial real estate lending at Wells Fargo & Co. “It is a model that is hard to replicate. They have executed it very effectively.”
That performance could face increasing challenges. For one, Brooks said he anticipates more competition from other lenders as their confidence in the economy builds. Brooks is competing with banks, which in total own some $250 billion of apartment loans, and also with bond investors, insurance companies, government agencies and others who, according to the Mortgage Bankers Association, own another $700 billion or so of debt backed by apartments.
JPMorgan is also managing risk in the sector by lending relatively low sums of money compared with the values of the buildings. The bank’s average loan is less than 60 percent of the value of the building. The most the bank will lend is 75 percent of the value. The bank bases its building valuations primarily on the rents they earn, not sales prices of comparable buildings, which can be inflated during booms.
Brooks is focusing lending on places with local government limits on development, such as coastal California. He also likes older, rent-regulated buildings in New York City, San Francisco and Los Angeles. Those buildings rarely have vacancies because tenants want to keep their inexpensive leases.
JPMorgan’s loans are expensive to make because they are small—averaging $2.5 million, about one-third the size of the average loan made by Wells Fargo. Making a smaller loan can take just as much work as making a bigger loan, which is why so many other banks try to focus on larger deals.
Brooks also pushes lending teams to decide which loans the bank really wants to make, and for how much and at what price, before an application is completed. Someone from the bank goes inside every building to make sure it is being kept up before accepting an application. The goal: No time wasted with weak applications brought in by overly optimistic salesmen.
“When it comes down to controlling your costs, not working on stuff that won’t pay off is essential,” Brooks said. “No fishing expeditions.”
Reporting by David Henry in New York, editing by Dan Wilchins and John Pickering
Our Standards: The Thomson Reuters Trust Principles.
https://www.reuters.com/article/us-jpmorgan-apartments-insight/jpmorgan-builds-up-apartment-loan-leader-from-wamu-rubble-idUSKCN0PB3I220150701
ron_66271, I believe you and thanks for all you do.
Nd9
Crazy talk…. This is an announcement for a new fdic rule being proposed.. it goes out on 9/18 and comments due in November…. Geeez
9/7/2023 - Notice of Termination of Receiverships
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 09/07/2023
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10053 American Southern Bank Kennesaw GA 09/01/2023
10120 Irwin Union Bank and Trust Company Columbus IN 09/01/2023
10195 The Park Avenue Bank New York NY 09/01/2023
10205 Desert Hills Bank Phoenix AZ 09/01/2023
10317 Earthstar Bank Southampton PA 09/01/2023
10380 Bank of Choice Greeley CO 09/01/2023
10402 Country Bank Aledo IL 09/01/2023
10412 Community Bank of Rockmart Rockmart GA 09/01/2023
10488 First National Bank Edinburg TX 09/01/2023
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on September 1, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023–19298 Filed 9–6–23; 8:45 am]
BILLING CODE 6714–01–P
https://www.federalregister.gov/documents/2023/09/07/2023-19298/notice-of-termination-of-receiverships
9/7/2023 - Notice of Termination of Receiverships
Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 09/07/2023
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10053 American Southern Bank Kennesaw GA 09/01/2023
10120 Irwin Union Bank and Trust Company Columbus IN 09/01/2023
10195 The Park Avenue Bank New York NY 09/01/2023
10205 Desert Hills Bank Phoenix AZ 09/01/2023
10317 Earthstar Bank Southampton PA 09/01/2023
10380 Bank of Choice Greeley CO 09/01/2023
10402 Country Bank Aledo IL 09/01/2023
10412 Community Bank of Rockmart Rockmart GA 09/01/2023
10488 First National Bank Edinburg TX 09/01/2023
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on September 1, 2023.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2023–19298 Filed 9–6–23; 8:45 am]
BILLING CODE 6714–01–P
https://www.federalregister.gov/documents/2023/09/07/2023-19298/notice-of-termination-of-receiverships
Royal Dude, No facts.. whether we get money or not, either way, you are just guessing and hoping.. so far, with all of your hundreds of posts over last several months, you have not posted one piece of evidence that ties any of your many your theories, to wamu.. none..
I believe in wamu. I have been here 15 yrs and believe we will get paid.. but I won’t just make things up to have a few laughs …
Jmho
Nd9
E*Trade schedule
Another tdameritrade schedule
Tdameritrade schedule
.. but the players aren’t the ones pumping this theory that wamu legacy holders will get paid with first republic assets.. it’s you that is making all this up with no proof.. and then you posted that you are “just having fun.” Ridiculous..
Not yet . Maybe Shell is still negotiating sharing drillship usage with others like kosmos, galp, total, etc…. Let’s just hope some of the 12 wells are allocated to JDZ and eez..
Yes, I know.. I was assuming it was a secret and so by the time the Shell article came out, the contracted was awarded..
Shell has all those kosmos eez blocks.. plus partner with galp for jaca-1.
Nd9
Did Shell Oil lease the Valaris DS-7 for 12 wells? See article below.
ND9
*********************************************
Shell hits market with multi-year West Africa rig inquiry
Deep-water unit is needed for work in the Bonga area offshore Nigeria
27 July 2023 4:01 GMT UPDATED 27 July 2023 6:26 GMT
By Iain Esau in London
Shell has hit the buoyant rig market with an inquiry for a semi-submersible or drillship to be targeted for deployment offshore Nigeria.
In Nigeria, the supermajor currently has the drillship Valaris DS-10 on charter — for a dayrate of $231,000 — at its deep-water Bonga field in OML 118 until the end of March 2024, supported by Marine Platform’s African...
https://www.upstreamonline.com/rigs-and-vessels/shell-hits-market-with-multi-year-west-africa-rig-inquiry/2-1-1491907
Royal Dude, part of the plan? Who knew First Republic would fail? How could first republic be part of plan 15 years ago, or even 11 years ago in 2012?
Nd9
Royal Dude, so you’re saying after almost 15 yrs, all of a sudden Jpm takes over first republic, and they are going to use that to pay wamu legacy holders? So they just scrapped the plan that they had in place, last 14 yrs, and are now going to pay us with first republic? I hope you are right but hard for me to believe..
Jmho
Nd9
What is the timeline and what can I expect?
Transition period—End of day Friday, September 1, 2023, through Tuesday, September 5, 2023. You will not have access to your TD Ameritrade account nor your Schwab account during this time period. This is a normal part of the transition process.
Transition complete - Tuesday, September 5, 2023 at 5 AM, all transitions complete. You will now have access to your Schwab account (login details below).
https://sbcwealth.com/schwab-transition-faqs/#:~:text=Transition%20period%E2%80%94End%20of%20day,part%20of%20the%20transition%20process.
In late 2019, Charles Schwab acquired TD Ameritrade and began integrating the two businesses. Over two years into the integration process, TD Ameritrade accounts will officially transition to Charles Schwab accounts over Labor Day weekend.
TD Ameritrade to Charles Schwab Transition FAQs
Why is my account moving to Charles Schwab?
https://sbcwealth.com/schwab-transition-faqs/#:~:text=Transition%20period%E2%80%94End%20of%20day,part%20of%20the%20transition%20process.
As described below, E*TRADE will transfer your account(s) as well as your
assets and obligations to Morgan Stanley on or about September 1, 2023
(the “Transfer Date”), subject to regulatory and other approvals
(the “Transfer”).
Important Update About Your Etrade Accounts
Moving Forward Together
https://content.etrade.com/etrade/estation/pdf/noticeofchanges3.pdf
U.S. Mortgage Applications Crash to Near-30-Year Low
https://www.breitbart.com/economy/2023/08/24/rental-nation-u-s-mortgage-applications-crash-to-near-30-year-low/
Mortgage rates also at 21 yr high
Mortgage Banking Association said on wed that mortgage application have hit 30 yr low…
I believe they both have already started, months ago, and I thought sept 1 was final completion date but I could be wrong..
I will find emails and check..
Yes, both sent me emails..
On sept 1, my E*Trade acct transfers to Morgan Stanley and my Ameritrade acct transfers to Schwab.
So if you believe Morgan Stanley and Schwab bought etrd and amtd to get the wamu legacy holder accts, then maybe this is another critical milestone, leading up to us getting paid..
Just hoping and praying out loud.
Nd9