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failure

Created by lynda

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failur

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Platnum's failure TBW acquired Platinum PBI TBW infuse FHLMC escrow deposits into Platinum Platinum purchased TBW mortgage loans ($198m)OTS issued Trobled condition letter and Cease and Desist order to Platinum TBW submitted business plan to OTS Agreed transfer date 1 ($5m)Agreed transfer date 2 ($5m)Actual transfer date ($38.7m in Oct 2009)OTC ordered TBW to repurchase loans FHLMC directed Platinum return $210m in escrow deposits FHLMC requested Platinum return of $210m in escrow deposits (copy)TBW filed chapter 11 bankruptcy petition ASBD closed Colonial Bank and appointed FDIC as receiver OTS closed Platinum, placed platinum into FDIC receivership

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