Tag:
home equity loans
Latest Headlines
Latest Headlines
Bank of America: Small customers don't contribute to bottom line
There was a day when Bank of America prided itself on being a massive consumer bank. It truly was the bank of America.
But CEO Brian Moynihan was pretty frank at a recent conference about something we all knew: Many of the bank's smallest-account customers no longer contribute to the bottom li
Modifications falter, what's next?
It's fair to say the push to modify more mortgages to prevent foreclosures has not worked all that well. It's just too darn hard to qualify and survive the procedural nightmares. So what should the industry try next? Reuters raises some ideas.
There's been lots of talk about "cram downs" a
Second liens, home equity to swing bank earnings?
Are second liens and home equity loans the new first-lien mortgages?
While top banks have really struggled to reserve against mortgage ( mortgage news) losses and to modify mortgages to prevent losses, we have yet to see equally aggressive action on second liens and home equity loans.
An interesting look at the home equity loan bubble
The New York Times offers a snap history of home equity loans, which used to be known as second mortgages, via the many memorable ads the banking industry churned out. Citigroup's "Live Richly" campaign, which cost some $1 billion from 2001 to 2006, was among the many that urged people to borr
Man bites dog: Wells Fargo boosts dividend
These were welcome surprises: Wells Fargo , in addition to reporting a smaller-than-expected quarterly loss, actually boosted its dividend, to 34 cents from 31 cents. This is a bold move; an act of outright confidence at a time when other banks will likely be forced to lower their payouts. You
Bank of America in sore need of capital
Bank of America's first-quarter earnings of 23 cents a share sorely lagged the average estimate of 41 cents. The somewhat ominous twist this time is that the bank seems to be feeling the effects of a slowing consumer market. Home equity loans, credit card loans and loans to small businesses all w
