Only 3 New Banks in 7 Years? Servicing Packages; eMortgage Updates and Info

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Posted To: Pipeline Press

Plenty of celebrities lose all their money, and then some, in various schemes. But here’s one Brady Bunch member that did pretty well in California residential real estate. So you’re thinking about starting a bank, huh? The Wall Street Journal reports that from 2000 to 2008 the FDIC received 1,637 applications for new banks and approved about 75% of them. Since 2009, however, the FDIC has received 50 applications and only approved 6%. My calculator says that is…3. A survey by the RMA of community banks finds 56% of respondents say they expect to participate in M&A in the next 2 years. Interestingly, of those expecting to do M&A, 86% said they plan to acquire another bank while only 14% expect to sell. S&P Global Market Intelligence reports that as of Aug 8 there had been…(read more)

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