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Loan Modification

: Flipping Frenzy

BANKING: Regulators seize La Jolla Bank, citing possible fraud, bad commercial loans

By Ralph Roberts

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At 5 p.m. Friday, federal regulators filed into the 10 branches of La Jolla Bank FSB and closed it down. A victim of the exploded commercial real estate bubble and possibly the perpetrator of loan fraud, the bank had 5,000 percent more capital in its outstanding commercial building and development loans than it [...]

Full post as published by Flipping Frenzy on February 22, 2010 (boomark / email).

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