In Brief
Federal credit union officials suing Nevada company
Federal credit union regulators are suing a Nevada company that defaulted on a $1.4 million loan from a now defunct credit union.
The National Credit Union Administration Board on Sept. 30 filed a federal lawsuit against a company called Washington 2500 LLC, which borrowed money from Henderson-based Ensign Federal Credit Union.
The money was used to obtain real estate in downtown Las Vegas in 2007, according to trade publication Credit Union Journal.
The three owners of Washington 2500 -- Isaac Norman and Hamid Mahban, both of Henderson, and Ali Moradshahi of Newbury Park, Calif. -- signed personal guarantees on the loan.
However, the federal lawsuit makes no mention of any real estate securing the loan. Nor does the promissory note mention any specific real estate property.
An attorney at Hutchison & Steffen filed the lawsuit on behalf of the government agency but didn't return a call for comment Wednesday afternoon.
The NCUA seized Ensign Federal last year and started liquidation. InTouch Credit Union of Texas took over the accounts of Ensign Federal members.
WAILUKU, Hawaii
Hawaiian Airlines launches nonstop Maui-LV flights
Hawaiian Airlines has announced the launch of its first-ever nonstop service between Maui and Las Vegas.
The carrier says it designed the twice-weekly schedule so Maui residents can make the most of their stay in Las Vegas.
Flight 32 departs Maui's Kahului Airport on Mondays and Thursdays at 8 a.m. and arrives at McCarran International Airport in Las Vegas at 4:35 p.m..
Hawaiian says that will give its passengers enough time to enjoy a full evening in Las Vegas on their first day.
Flight 31 departs Las Vegas on at 6:25 p.m. Sundays and Wednesdays, arriving on Maui at 9:25 p.m.
The airline says the timing allows residents to enjoy a full final vacation day in Las Vegas before arriving home.
WASHINGTON
Government investigating allegations of flawed papers
The U.S. is looking into allegations that mortgage lenders in the foreclosure crisis have been evicting homeowners using flawed court papers, Attorney General Eric Holder said Wednesday.
President Barack Obama's financial fraud enforcement task force has a mortgage component to it, Holder noted during a news conference.
In a letter Tuesday, House Speaker Nancy Pelosi and dozens of Democratic lawmakers urged bank regulators and the Justice Department to probe whether mortgage companies violated any laws in handling foreclosures and borrowers' requests for loan assistance.
In Ohio, state Attorney General Richard Cordray is suing Ally Financial Inc. and its GMAC Mortgage division, alleging fraud that could involve hundreds of foreclosures in the state.
