2008-11-26 — wcpn.org
"AmTrust Financial Corp of Cleveland has been ordered by a government regulator not to take on new loans or extend new lines of credit for land acquisition and development until it has more cash in its coffers."
Please note that the original article title excluded the word "Development." The quote we originally pulled from the article was also changed/removed.
Please see the updated version.
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Comments:
parmoney at 04:59 2008-11-26 said:
Terrible Headline! -- Please be more detailed, as this only pertains to a certain type of loan. Permalinkcbc1103 at 01:21 2008-11-27 said:
This is just a crock of crap. It is totally irresponsible to the customers of Amtrust Bank. The headline you used doesnt state that this only applies to commercial land loans. Whats bad, is the general public only sees the headline and they make up there own version of the truth. What a great example of poor usage of a normally reliable website. Permalinkcbc1103 at 01:39 2008-11-27 said:
The OTS and Amtrust came to an agreement. Amtrust will not make any more commercial land loans until they raise more capital or the non-performing commercial loans are a smaller percentage of capital on hand. The OTS put no restrictions whatsoever on the wholesale residential lending division. Do the homework before you post a mis-leading headline. Even the source of this story did a much better job of reporting the TRUE facts. Very disappointed! Permalinkadd a comment | go to forum thread
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