On July 13, SBA's Inspector General (IG) issued a scathing audit criticizing Banco Popular for its underwriting procedures for the Huntington Learning Centers (HLC) franchise. The IG wrote that the bank failed to properly analyze and underwrite applicant projections. This failure warrants the denial … [Read more...] about 7.20.11: Inspector General Issues Scathing Audit Criticizing Banco Popular Regarding SBA Loan Underwriting
3.5.10: Simon Property Group May Have to Raise Its Offer for General Growth Properties
On March 3, the bankruptcy court granted General Growth Properties a four-month extension to exclusivity, preventing suitors such as Simon Property Group from submitting bids directly to the court. After the four additional months, General Growth could apply for a second extension. We believe … [Read more...] about 3.5.10: Simon Property Group May Have to Raise Its Offer for General Growth Properties