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Real Estate & Property Law

: Housing Wire

Weak Reserves Lead to Cease-and-Desist at AmTrust

By DIANA GOLOBAY

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(Update 1 reflects a media statement from AmTrust.) The Office of Thrift Supervision has issued a cease-and-desist order against Cleveland-based AmTrust Financial Corp. (AFNL: 0.00 N/A) and AmTrust Bank, one of the nation’s largest mortgage originators. The order prohibits the bank from making any new loans or issuing new lines of credit for speculative residential construction, [...]

Full post as published by Housing Wire on November 25, 2008 (boomark / email).

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