It turns that if a mortgage lender treats a small-town attorney with disdain and indifference then it is fairly likely that they will show the same disregard for good business sense.

I was in for a surprise when I called my long-time real estate attorney about my upcoming (more…)

In a move that seems to contradict any analysis of public sentiment, Bank of America just rewarded two departing executives with millions of dollars in severance.

Bank of America awarded Sallie Krawcheck and Joe Price with $11 million in severance. B of A released both from their contracts. Each had just one year remaining on their (more…)

Some details on why Bank of America is in so much trouble:

• Almost one in three Bank of America borrowers are underwater: In its most recent 10-k, Bank of America reports that 32 percent of the loans in its mortgage portfolio have loan-to-value ratios that are greater than 100. Excluding loans from Countrywide, the number is still high: (more…)

Local bank, waiting regulatory approval for a sale, misses its TARP payment: Crescent State Bank (CRFN) missed its scheduled TARP payment that was due this week. Crescent says that it wants to preserve its capital. This is an interest moment for Crescent. The North Carolina Bank reached an agreement with Piedmont Community Bank Investors to sell a majority stake (more…)

The Federal Reserve denied the request by Bank of America to increase their dividend. B of A proposed to pay common shareholders seven cents per share per quarter.

Shareholders generally like dividends. My dad went to Wharton and he often took time, when he wasn’t fixing his cars, to talk about investing. He liked dividends. He felt that you could place some trust in a company that could pay a dividend. In fact, one of the first things I (more…)