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Capmark Financial Group, one of the nation’s largest commercial real estate lenders, has filed for bankruptcy protection amid mounting bad debt. Capmark has been hurt by rising losses on mortgage loans. In its filing Sunday in Delaware bankruptcy court , the company listed total debt of $21 billion and assets of $20.1 billion. Last month, the Horsham, Pa.-based company posted a $1.6 billion quarterly loss , as it set aside $345.8 million to cover loan losses during the quarter ended June 3

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Random Feed wrote an interesting post today on
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Capmark Financial Group, the commercial real estate company created through a 2006 leveraged buyout of certain GMAC assets, is preparing to file for bankruptcy possibly by the end of next week, a source with direct knowledge of the situation told Reuters.The company, which owns a bank that will continue to operate while it is in court, is in negotiations with lenders, bondholders and the Federal Deposit Insurance Company that will result in a filing by the end of October at the latest, the sourc

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Random Feed wrote an interesting post today on
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I guarantee you even a n00b forensic accountant could sniff this one out. LandAmerica Financial Group (LFG) will hereby be referred to simply as LandAm or LandAmerica. They know who they are, but do you? As September rolls back around, it might be useful to take a look at some of the financial failures that haven’t really been getting press. There are bodies buried everywhere , not just beneath Allen Stanford’s golden toilet. I’d love to show you LandAm’s news room but sadly it’s 404

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Random Feed wrote an interesting post today on
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Warren Buffett’s Berkshire Hathaway and Leucadia National agreed to buy Capmark Financial Group’s mortgage loan and servicing business for as much as $490 million, increasing exposure to a possible housing recovery in the United States, Reuters reported.Capmark also said it may file for Chapter 11 bankruptcy protection after soured loans left it with a $1.62 billion second-quarter loss. It said stockholders had negative equity of $1.14 billion as of June 30.According to a May 5 report by Moody’s

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Random Feed wrote an interesting post today on
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Berkshire Hathaway, led by Warren Buffett, and Leucadia National agreed to buy Capmark Financial Group’s mortgage loan and servicing business for as much as $490 million, increasing exposure to a possible housing recovery in the United States, Reuters reported.Capmark also said it might file for Chapter 11 bankruptcy protection after soured loans left it with a $1.62 billion second-quarter loss. It said stockholders had negative equity of $1.14 billion as of June 30.According to a May 5 report

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