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» VISIT US ONLINE @ DSNEWS.COM Compiled by the DS News Staff FIVE MINUTES WITH DESIRÉE PATNO FOUNDER AND PRESIDENT OF THE NAWRB PAGE 23 INSIDE THE JOURNAL // MOVERS & SHAKERS // ON THE WEB // THE APP SPECTRUM FDIC'S 'PROBLEM' BANK LIST SHRINKS, AGENCY PURSUES LAWSUITS FOR PAST FAILURES FDIC-insured banks December 4, 50 banks continued to strengthen collapsed in 2012, As of December their balance sheets in compared to 90 over 11, 2012, the FDIC the same period in the third quarter of the 2012 calendar year, the authorized suits in 2011. agency reported last As receiver for failed connection with 89 month. Commercial financial institutions, failed institutions the FDIC may sue banks and savings institutions insured professionals who against 742 by the FDIC reported played a role in the individuals. aggregate net income collapse of an insured of $37.6 billion for the lender. The agency has three-month period, up 6.6 percent three years for tort claims and six years from a reported $35.2 billion in Q3 for breach-of-contract claims to file suit 2011. Meanwhile, negative indicators— from the time a bank is closed. If state law including loan loss provisions, loan permits a longer time, the state statute charge-offs, and delinquent loans and of limitations is followed. Professionals leases—declined sharply. In fact, the may be sued for either gross or simple percentage of loans and leases that were negligence. delinquent fell to its lowest level in more As of December 11, 2012, the FDIC than three years. authorized suits in connection with 89 With the banking industry's financial failed institutions against 742 individuals. results improving, the number of This includes 41 filed suits (4 of which institutional lenders on the FDIC's sohave settled and 1 of which resulted in a called "Problem List" declined for the favorable jury verdict) naming 324 former sixth straight quarter, dropping from 732 directors and officers. The FDIC also has in Q2 2012 to 694 in Q3. The third quarter authorized 46 other lawsuits for fidelity marked the first time in three years that bond, insurance, attorney malpractice, there have been fewer than 700 banks appraiser malpractice, accounting on the agency's watch list. The number malpractice, and residential mortgageof bank failures has fallen too. The third backed securities claims. In addition, 172 quarter saw 12 failures—the fewest in residential mortgage malpractice and a single quarter since Q4 2008. As of fraud lawsuits are pending. A look at facts you didn't know you couldn't live without REOs closed in the third quarter of 2012 took an average of 186 days to sell after being foreclosed, down from 195 days in the previous quarter and 193 days during the same period in 2011, RealtyTrac reports. top10 Take a look inside the numbers data b i t s MORTGAGE EMPLOYMENT GROWTH State MOST JOB GAINS IN FIRST NINE MONTHS OF 2012 Net Jobs Michigan+2807 Pennsylvania+1270 Texas+1268 Iowa+1229 Florida+1022 Arizona+420 Ohio+266 North Carolina +208 Colorado+203 Louisiana+224 State MOST JOB LOSSES IN FIRST NINE MONTHS OF 2012 New York Net Jobs -922 California-794 Indiana-481 Nebraska-450 New Jersey -176 National (no state identified)-165 Minnesota-151 Missouri-48 South Carolina Washington -30 -3 Source: Mortgage Daily's Mortgage Employment Index. Results based on Q1, Q2, and Q3 2012 net employment data. Consumers surveyed in November by Bankrate fostered a more negative perception about their own finances than they did a year earlier, with most citing "staying current or getting caught up on the bills" as their top concern. 9