Capmark Files for Bankruptcy – Analyst Blog

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Capmark Financial Group Inc. ( CPFNG ), one of the key commercial real-estate lenders in the U.S., along with some of its subsidiaries has filed Chapter 11 protection. The filing adds to the lingering concern that the commercial real-estate market is still struggling. The company seeks to be allowed to continue to pay its vendors and salaries, and protect the businesses with its customers and partners. Capmark was created in March 2006 through a leveraged buyout of the commercial real est

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Capmark Said Ready to File for Bankruptcy

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WSJ - MIKE SPECTOR Capmark Financial Group Inc., one of the nation’s largest commercial-real-estate lenders, plans to file for bankruptcy as soon as this weekend, a person familiar with the situation said. The much-expected move underscores the deep problems in the business-property market. After suffering from the collapse in residential mortgages, U.S. banks face steep losses from commercial real-estate loans. Capmark has originated more than $10 billion in commercial real-estate loans, acc

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Welcome to the Beginning of the Double-Dip

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Yeah…sadly, this move was expected . The question is, when do the other dominoes start falling? Capmark Financial Group Inc., one of the nation’s largest commercial-real-estate lenders, plans to file for bankruptcy as soon as this weekend, a person familiar with the situation said. The much-expected move underscores the deep problems in the business-property market. After suffering from the collapse in residential mortgages, U.S. banks face steep losses from commercial real-estate loans

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Deal Stocks: ORCL, JAVA, SEPR, BRK, LUK

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Welcome to Deal Stocks! In today’s news are Oracle Corp. (NASDAQ:ORCL), Sun Microsystems Inc. (NASDAQ:JAVA), Dainippon Sumitomo Pharma, Sepracor (NASDA:SEPR), Berkshire Hathaway Inc. (NYSE:BRK), Leucadia National Corp. (NYSE:LUK) and Capmark Financial Group Inc. M&A activity is finally having a positive effect on equity markets as the Dow, S&P 500 and Nasdaq appear poised to open higher as futures pointed higher. <a href=”http://finance.yahoo.com”>Yahoo! Finance&lt

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Guaranty Financial Group Files for Chapter 11 Bankruptcy Protection

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Less than a week after federal regulators seized Gauranty Financial Group’s banking unit and sold the assets to Banco Bilbao Vizcaya Argentaria SA (a Spanish bank), Guaranty Financial Group Inc (GFGF.PK) has filed for Chapter 11 bankruptcy protection. The Austin, TX based firm and its three related affiliates filed for protection from creditors on Thursday in a U.S. bankruptcy court in Dallas, TX. The bank stated that it had $24.3 million in assets and $323.4 million in debt as of June 30 th .

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$100 million mortgage fraud

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“The indictment charges 13 individuals and the mortgage company AFG Financial Group, Inc. with enterprise corruption, grand larceny, scheme to defraud and conspiracy involving 19 fraudulent mortgage transactions. The defendants include the principals and a number of employees of the mortgage company, as well as bank employees, appraisers, and three attorneys. Two other attorneys are among the defendants who already pleaded guilty. The crimes charged in the indictment occurred between June 2004 a

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14 Indicted for $100M Mortgage Fraud Scheme

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AFG Financial Group, Inc. , a mortgage origination company, Aaron Hand , 12/25/1971, Oyster Bay Cove, New York; Eugene Culbreath , 5/30/1973, Valley Stream, New York; Eric Shields , 12/19/1964, Media, Pennsylvania; Matthew McDermott , 10/20/1986, Merrick, New York; Marc Zirogiannis , 5/21/1968; Levittown, New York; Kenneth Law , 6/01/1956, Pelham, New York; Kathleen Scanlon , 1/27/1968, Baldwin, New York; Jeffrey Phelan , 10/14/1964, Smithtown, New York; Jerry Strklja

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