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Bank-owned properties may also be referred to as real estate owned, or REO. You can find bank-owned properties through sources like banks' online listings or RealtyTrac.
CoreStates Financial Corporation was a bank holding company in the Philadelphia area that merged with First Union Corporation, which later became Wachovia and then Wells Fargo. Learn about its history, products, and acquisitions from 1803 to 2008.
Aug. 27—Yet another lawsuit has been filed against Santa Fe real estate and art magnate Gerald Peters, who has been named a defendant in several complaints filed by creditors this year. The ...
Golden West Financial was a savings and loan corporation that operated branches under the name of World Savings Bank. It was founded in 1929, acquired by the Sandlers in 1963, and sold to Wachovia in 2006.
REO is a term for property owned by a lender after a foreclosure auction. Learn about the origin, process, and property preservation of REO properties in the US.
The transaction "open bank" was facilitated by the FDIC and with the concurrence of the United States Department of the Treasury, and the Board of Governors of the Federal Reserve Bank. The FDIC guaranteed to Citigroup to cover any losses on the Wachovia banking portfolio greater than $42 billion, in exchange for $10 billion in preferred stock.
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