2008-12-16 — ml-implode.com
Investors will have to keep waiting for BankUnited to publish its latest financials. Today Florida’s largest regional bank, an option ARM specialist, released a “non-timely filing notice,†noting that they will be unable to make their annual filing with the SEC by the Dec. 15th deadline.
The filing includes a “going concern†warning.
These guys have been some of the most egregious perpetrators in issuing vast quantities of Option ARMs then denying they had any solvency problems (all the while continuing to book phantom "negative amortization" as income).
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