Thank you so much to SarahGray Lamm, my AR fully-licensed, full time, residential Broker/Friend in North Carolina, for providing this valuable information. I felt it very important that as many people view and have access to this info as possible ... so I asked for permission to re-blog the piece. Sarah was gracious enough to allow me to do so.
The information contained within this article could prove extremely worthwhile to many across the nation. Please pass the provided links on to those you think interested, or in need!
We keep hearing there are more foreclosures coming and it's just common sense that those bad loans will affect our marketplaces.
If you could see what percentage of these troubled assets your local banks or credit unions own relative to their capital and loan loss reserves and relative to the county as a whole, would you want to know?
The BANKTRACKER UPDATE was launched 16 September 2009 by The Investigative Reporting Workshop, a part of The American University School of Communication in cooperation with MSNBC.
The search tool these talented investigative journalists have built is intended to allow the public to see graphically the percentage of troubled assets owned by any bank or credit union in the United States. Pretty interesting stuff. According to the BankTracker Methodology, The FDIC requires banks and the NCUA requires credit unions to submit certain data quarterly and these are all public information. The workshop members have extracted and organized certain data points and organized them into this easy to use tool.
There are a few caveats and explanations about this data which I recommend you read before jumping to any conclusions about what this data shows but still, it is window into the operations of your bank that would have been tough to find on your own until this tool was developed!
SarahGray Lamm is a licensed, full time, residential Broker in the Triangle of North Carolina. She specializes in serving the real estate needs of home owners and home buyers in Chapel Hill, Carrboro, SW Durham and Northern Chatham County.
With over 60,000 hours of experience in North Carolina real estate, SarahGray is proudly associated with Allen Tate Realtors, the Carolinas largest independent real estate company. With exceptional relationships all over the Carolinas, SarahGray is able to connect you with other professionals in all areas who will make your home buying or selling experience the best you have ever had!
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