Search results
Results From The WOW.Com Content Network
American Savings and Loan Association was an American savings and loan based in Stockton, California. In 1988 it was the largest thrift failure and the federal government's costliest resolution during the savings and loan crisis at an estimated cost of $5.4 billion.
This includes the California Correctional Peace Officers Association, whose contract cost an estimated $1 billion and gives them an enhanced retirement benefit.
ACC Capital Holdings (ACCCH) was a national mortgage lender based in Orange, California.The company is the largest privately held retail mortgage lender in the United States and the largest subprime lender by volume.
Bear Stearns' former offices at 383 Madison Avenue. Bear Stearns was founded as an equity trading house on May 1, 1923, by Joseph Ainslie Bear, Robert B. Stearns and Harold C. Mayer with $500,000 in capital (equivalent to $8,941,406 in 2023).
Get breaking Business News and the latest corporate happenings from AOL. From analysts' forecasts to crude oil updates to everything impacting the stock market, it can all be found here.
In 1996, the company announced a $115 million restructuring program that would eliminate 800 jobs, consolidate mortgage banking branches, and install new technology. [43] Later that year, Great Western sold its student loan business to Crestar Bank. [44] [45]
Get breaking news and the latest headlines on business, entertainment, politics, world news, tech, sports, videos and much more from AOL
Yet even with this expansion Ahmanson felt the effects of California's recession during the early 1990s. In 1992, earnings fell to $156 million, partially due to falling property values in the state which led to a substantial increase in non-performing assets. During the same year, 61% of its mortgage business resulted from refinancings.