Lenders are beginning to take back more delinquent properties as the number of bad loans around town accelerates, including the Sheraton Richmond West hotel on Broad Street.
Glen-Allen
Virginia bank acquires 4 branches in Md.
Another failed bank is just another opportunity for Tappahannock-based Bank of Essex. On Saturday, the Bank of Essex assumed operations of Suburban Federal Savings Bank in Crofton Md. after it was seized by federal regulators on Friday. The Bank of Essex, which is owned by Community Bankers Trust Corporation in Glen Allen, purchased all $312… Read more »
Glen Allen man charged in Fannie Mae plot
Computer programmer and Henrico resident Rajendrasinh B. Makwana pleaded not guilty Friday to a federal charge that he planted a virus on Fannie Mae’s computer system that was designed to wipe out all of the company’s data nationwide.
LandAmerica lays off 130
LandAmerica laid off around 130 of its 600 workers in Richmond today. Those who are still employed are bracing for a possible liquidation of the company, according to a source inside the Glen-Allen-based company. Employees who were let go on Monday were packing up their belongings and leaving for good. Late last week LandAmerica laid… Read more »