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Signal Savings Loan Association

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BUSINESS
February 11, 1989 | TOM FURLONG, Times Staff Writer
Federal regulators late Friday moved in on two troubled thrifts in Southern California, closing Signal Savings & Loan in Signal Hill and selling most of the deposits of Manhattan Beach Savings & Loan to another firm. Separately, regulators disclosed that savers took out a record $8.1 billion from the nation's thrift institutions in December, but pointed out that $3.4 billion came from a single, healthy institution that was intentionally shrinking its deposits.
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BUSINESS
September 19, 1991 | SONNI EFRON, TIMES STAFF WRITER
A sobbing Huntington Beach mortgage broker was sentenced to four years in federal prison Wednesday for defrauding Signal Savings & Loan in Signal Hill of millions of dollars in a scheme blamed for the thrift's collapse, prosecutors said. Robert J. Herrera, 47, had pleaded guilty in March in federal court in Los Angeles to three felony counts of fraud and making false statements. Herrera, who owned United Security Mortgage Co.
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BUSINESS
January 5, 1991 | GREGORY CROUCH, TIMES STAFF WRITER
A Huntington Beach mortgage broker was charged on Friday with defrauding Signal Savings & Loan in a multimillion-dollar scheme that regulators claim caused the thrift's collapse in 1989. Robert Herrera, owner of United Security Mortgage Co., was charged in U.S. District Court in Los Angeles with three felony counts of wire fraud and making false statements for allegedly using mortgages he didn't own as collateral to secure a large line of credit from Signal.
BUSINESS
March 26, 1991 | GREGORY CROUCH, TIMES STAFF WRITER
A Huntington Beach mortgage broker pleaded guilty Monday in federal court here to charges that he defrauded Signal Savings & Loan in a multimillion-dollar scheme that regulators claim caused the thrift's 1989 collapse. Robert Herrera, owner of Huntington Beach-based United Security Mortgage Co., pleaded guilty to wire fraud and making false statements in using mortgages he didn't own as collateral to secure a large line of credit from Signal.
BUSINESS
March 26, 1991 | GREGORY CROUCH, TIMES STAFF WRITER
A Huntington Beach mortgage broker pleaded guilty Monday in federal court here to charges that he defrauded Signal Savings & Loan in a multimillion-dollar scheme that regulators claim caused the thrift's 1989 collapse. Robert Herrera, owner of Huntington Beach-based United Security Mortgage Co., pleaded guilty to wire fraud and making false statements in using mortgages he didn't own as collateral to secure a large line of credit from Signal.
BUSINESS
September 19, 1991 | SONNI EFRON, TIMES STAFF WRITER
A sobbing Huntington Beach mortgage broker was sentenced to four years in federal prison Wednesday for defrauding Signal Savings & Loan in Signal Hill of millions of dollars in a scheme blamed for the thrift's collapse, prosecutors said. Robert J. Herrera, 47, had pleaded guilty in March in federal court in Los Angeles to three felony counts of fraud and making false statements. Herrera, who owned United Security Mortgage Co.
BUSINESS
January 5, 1991 | GREGORY CROUCH, TIMES STAFF WRITER
A Huntington Beach mortgage broker was charged on Friday with defrauding Signal Savings & Loan in a multimillion-dollar scheme that regulators claim caused the thrift's collapse in 1989. Robert Herrera, owner of United Security Mortgage Co., was charged in U.S. District Court in Los Angeles with three felony counts of wire fraud and making false statements for allegedly using mortgages he didn't own as collateral to secure a large line of credit from Signal.
BUSINESS
February 11, 1989 | TOM FURLONG, Times Staff Writer
Federal regulators late Friday moved in on two troubled thrifts in Southern California, closing Signal Savings & Loan in Signal Hill and selling most of the deposits of Manhattan Beach Savings & Loan to another firm. Separately, regulators disclosed that savers took out a record $8.1 billion from the nation's thrift institutions in December, but pointed out that $3.4 billion came from a single, healthy institution that was intentionally shrinking its deposits.
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