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Community First Bank Closed

Discussion in 'Oregon' started by The Dog, Aug 8, 2009.

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  1. The Dog

    The Dog Senior Member

    0
    Apr 18, 2005
    Professional Status:
    Certified General Appraiser
    State:
    Oregon
  2. Mike Kennedy

    Mike Kennedy Elite Member

    96
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    “The bank’s problems resulted primarily from a heavy dependence on residential construction loans, many of which were of poorer quality and were not performing or being repaid when the economy deteriorated.”

    Always interesting to investigate the profiles of Smaller and Regional Bank Members of the Boards of Directors ..and Larger Shareholders...... usually at LEAST one member is a Builder/Developer......often........several or many. Regulating Auditors should also track subdivision loans, building loans, and new home loans to identify the prevalence of incestou$$$ relationships with "you da man" appraisers and appraisal firms.

    Savy, Ethical, Local Appraisers should offer Forensic Review services on the (a)ppraisals done for that bank (and others) to determine the preponderance of builder-supplied contracted sales and closed sales utilized to "support" the mandatorily reviewed Contract Prices on all the transactions above - and whether or not "out of market" AMCs or "National or Regional" appraisal firms provided the appraisal services.

    May well be an EYE-opening experience.
     
    Last edited: Aug 8, 2009
  3. Oregon Doug

    Oregon Doug Senior Member

    0
    Jan 15, 2002
    Professional Status:
    General Public
    State:
    Oregon
    Hey there Paul -- I told you that there was another one comming. I'm surprised that it took so long.

    Oregon Doug
     
  4. The Dog

    The Dog Senior Member

    0
    Apr 18, 2005
    Professional Status:
    Certified General Appraiser
    State:
    Oregon
    Doug

    Hope you are enjoying retirement, fishing and writing.

    Wish I could do that
     
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