Caught Up in The Financial Crisis
In mid-August 2009 the bank was named as one of the biggest and worst off of more than 150 U.S. lenders which own nonperforming loans that equal 5 percent or more of their holdings. 5 percent is a threshold that former regulators have stated can wipe out a bank’s equity and threaten its survival. Flagstar's nonperforming portfolio was more than 10 percent.
Read more about this topic: Flagstar Bank
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