Relevant:
- Imploded: Valley Capital Bank, National Association
- RCS to Purchase $1.3 Billion in Residential Mortgage Loans From FDIC
- Imploded: First Security National Bank, Norcross, Georgia
- Imploded: Republic Federal Bank, National Association, Miami, Florida,
- Imploded: Pacific Coast National Bank, San Clemente, California
2009-01-07 — housingwire.com
"Private National Mortgage Acceptance Company, LLC — that’s PennyMac to you and I — said Wednesday morning that investment funds managed by its affiliate, PNMAC Capital Management, LLC, had recently completed the purchase of $558 million in residential mortgage loans from the Federal Deposit Insurance Corporation. The loans were formerly held by the First National Bank of Nevada, closed by the Office of the Comptroller of the Currency in July; the FDIC was named receiver."
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