BankUnited Headed for Receivership?

CalculatedRisk is reporting that BankUnited Financial Corp. may be TGOF (Taken over by the Government On Friday — I know the acronym doesn’t work well; just go with me on this one). BKUNA trading was stopped today.

NASDAQ warned the company Wednesday that it was not in compliance with the exchange, because it had not released financial data in a timely manner.

BankUnited has said that it is undergoing “an internal review of its accounting and reserves for future loan losses before it finalizes its earnings,” according to Bizjournals.com. The company also previously said that its recent credit losses put it in danger of receivership.

BankUnited was one of the most aggressive mortgage lenders in Southern Florida during the height of the real estate boom. In this case, hindsight is 10/10.