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  #1  
Old 08-08-2009, 09:50 AM
The Dog's Avatar
The Dog The Dog is offline
 
Join Date: Apr 2005
Location: Beautiful Southern Oregon
State: Oregon
Professional Status: Certified General Appraiser
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Default Community First Bank Closed

This brings this years bank closure to 72 Nationwide, 2 in OR

http://www.bendbulletin.com/apps/pbc...&nav_category=
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  #2  
Old 08-08-2009, 12:13 PM
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Mike Kennedy Mike Kennedy is offline
 
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Location: Southern Hudson Valley
State: New York
Professional Status: Certified Residential Appraiser
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“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.
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Last edited by Mike Kennedy : 08-08-2009 at 12:20 PM.
  #3  
Old 08-26-2009, 10:23 PM
Oregon Doug Oregon Doug is offline
 
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Location: Westcentral Oregon
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Hey there Paul -- I told you that there was another one comming. I'm surprised that it took so long.

Oregon Doug
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  #4  
Old 08-28-2009, 07:50 PM
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The Dog The Dog is offline
 
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Doug

Hope you are enjoying retirement, fishing and writing.

Wish I could do that
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