Lending

LAS VEGAS – Nevadans with a net worth of more than $1 million make up only 0.2 percent of the state’s population but account for more than 27 percent of its reported charitable contributions, according to a report from The Private Bank by Nevada State Bank.

The third in the bank’s series of monthly reports prepared in conjunction with local market research firm Applied Analysis focused on charitable giving by Nevadans with a household net worth of at least $1 million.

RBS Financial Products will pay a $42 million settlement to resolve an investigation into the firm’s role in purchasing and securitizing subprime and payment option adjustable rate mortgages in Nevada.
The assurance of discontinuance, filed in Eighth Judicial District Court, requires RBSFP to commit to certain changes in its practices to the extent it securitizes Nevada mortgages and to pay the State $42 million to be used for payments to affected borrowers, mortgage fraud enforcement, and foreclosure prevention, and attorney’s fees and costs.

Nicole Larrimore has been named as the new Mortgage and Marketing Coordinator for the Nevada Rural Housing Authority. The position was recently created to provide information about the NRHA’s housing assistance programs to mortgage lenders, banks, realtors, brokers, title and hazard insurance companies and prospective homebuyers. She will serve as the NRHA liaison to lenders and build relationships with the home buying and real estate community to better serve their needs.

SPARKS – U.S. Sen. Dean Heller, R-Nev., showed up at a Sparks floral shop today to receive the endorsement of the U.S. Chamber of Commerce in his reelection bid against Rep. Shelley Berkley, D-Nev.

The national endorsement was made by former U.S. Secretary of Education Margaret Spellings, who said the choice was clear for the organization.

LAS VEGAS – State senate Majority Leader and 4th Congressional District candidate Steven Horsford, D-North Las Vegas, said he supports the federal health care law that was upheld by the U.S. Supreme Court in late June.

CARSON CITY, NEV (June 29, 2012) – The Nevada Rural Housing Authority (NRHA) has launched a new home mortgage and down payment assistance program that is designed to help a group that has received very little help until now: working Nevadans who have been hurt by the downturn in the economy and the housing crisis.

CARSON CITY – U.S. Sen. Dean Heller, R-Nev., today downplayed the notion of any disagreement with GOP Gov. Brian Sandoval arising from their opposing views on the Small Business Jobs Act passed by Congress in 2010.

CARSON CITY – When state Sen. Greg Brower asked the Attorney General’s office earlier this month about the $6 million in outside legal costs incurred so far in defending the state in a freeway construction dispute, he said his motives were purely fiscal in nature.

Attorneys General Kamala D. Harris of California and Catherine Cortez Masto of Nevada today announced that their states have entered into a joint investigation alliance designed to assist homeowners who have been harmed by misconduct and fraud in the mortgage industry.

By forging this alliance, California and Nevada will combine investigative resources, including litigation strategies, information, and evidence gathered through their respective ongoing investigations, assisting each state as it pursues independent prosecutions.

Carson City, NV - Occupy Carson City, an extension of the Occupy Wall St. movement, will hold their weekly peaceful assembly on Saturday from 1:00-3:00 p.m. at the Legislature Sidewalks at 401 S. Carson Street in Downtown Carson City. Everyone is welcome to participate, and the group has been in close communication with law enforcement to avoid any problems.

CARSON CITY – Nevada Attorney General Catherine Cortez Masto has joined with her Utah counterpart Mark Shurtleff  in asking the U.S. Senate to take up consideration of Rich Cordray’s nomination to head the Consumer Financial Protection Bureau (CFPB).

Greater Nevada Mortgage Services (GNMS) has promoted Jenny Casselman to Vice President of Loan Servicing. Her responsibilities will include mortgage loan servicing and loss mitigation functions.

Casselman, who holds a Masters in Business Administration, started at Greater Nevada Credit Union in April 2003 as a Branch Manager and then served as Call Center Manager and Regional Manager before joining Greater Nevada Mortgage Services in May 2009 as Loan Servicing Manager.

CARSON CITY – A new federal program is bringing $13.8 million to Nevada to lend to small businesses to spur job growth, Gov. Brian Sandoval announced earlier this week.
The funds provided to Nevada’s State Small Business Credit Initiative (SSBCI) by the Small Business Jobs Act are expected to help create private sector jobs and spur more than $138 million in additional lending to small businesses in Nevada, Sandoval said.

Greater Nevada Mortgage Services (GNMS) has promoted Nick Serrano to Vice President of Sales. His responsibilities will include managing the sales production of mortgage consultants throughout northern Nevada and helping to guide the company’s strategic vision.

CARSON CITY – Nevadans would no longer see education board representatives on their ballots if a proposal before the Legislature passes.
Assembly Bill 548, recommended by an education task force, would give the governor the power to appoint the superintendent and state board of education.

(U.S. Department of Justice Press Release)
WASHINGTON – Teresa Kelly, a former operations supervisor in Colonial Bank’s Mortgage Warehouse Lending Division (MWLD), pleaded guilty today to conspiring to commit bank, wire and securities fraud for her role in a fraud scheme that contributed to the failures of Colonial Bank and Taylor, Bean & Whitaker (TBW).

Colonial Bank had a branch on Stewart Street in Carson City, that now sits vacant.

By Sean Whaley / Nevada News Bureau
CARSON CITY – A campaign report filed by the Senate Democratic Caucus shows the group’s political action committee received about $20,000 before ending a short-lived proposal to give lobbyists access to lawmakers in exchange for campaign contributions.

By Sean Whaley /Nevada News Bureau
CARSON CITY – Reno Mayor Bob Cashell said this week he expects to see Harry Reid continue to help northern Nevada in a variety of ways now that he has won re-election in a bitterly contested Senate race.

Everyone loves a parade!

Every year Nevada does something completely unique in the United States. Nevada celebrates it's date of statehood with a huge 3 hour parade right through the middle of beautiful historic downtown Carson City. The NV Day Parade averages 200 entries from all over Nevada with antique cars & motorcycles, cowboys on horses, Burning Man & Gunfighters shooting in sequences, Marching Bands and tons more!

Carson City Sheriff Kenny Furlong sent Carson Now his response to Guimont's comment that was posted after a gang-related shooting incident two weeks ago. Carson Now contacted Guimont and verified that the comment did in fact come from him.

LAKE TAHOE — Unbearable loneliness, crises of confidence, bereavement, loss of hope and struggles with faith are just some of the universal topics being talked about on the stage of the historic Boathouse Theatre at Tahoe’s annual Valhalla Arts, Music and Theatre Festival. "Talking With" is a unique collection of 10 monologues by 10 marvelous characters who are sure to make the audience laugh and think.

CARSON CITY – Nevada state Treasurer candidate Steve Martin is questioning the method Treasurer Kate Marshall is using to account for the loss of interest income from a failed $50 million investment with the now bankrupt Lehman Brothers.
Martin is also questioning whether Marshall has the authority to write off the interest loss to agencies and programs over a period of four and a half years.

CARSON CITY – A two-member panel of the state Ethics Commission has decided there is insufficient cause to move forward with a complaint that state Treasurer Kate Marshall used her office to benefit her re-election bid.

She started with the standard "I am so proud to be an American," paid respect with "happy birthday Ronald Reagan," and almost blew it with a lame "ice tea" joke.

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Some of the nation's biggest for-profit colleges and vocational schools are boosting enrollment in tough times by making more loans directly to cash-strapped students, knowing full well many of them probably won't be able to repay what...