Tag:
loans
Latest Headlines
Latest Headlines
Mortgage settlement talks nearing end
Reuters reports that big consumer mortgage banks have made strong headway recently in their talks with state attorneys general and federal regulators to definitively settle a raft of charges of improper mortgage practices. A deal could be reached by the end of the month.
"Under the propos
The rise of shadow banking in China
The rise of the shadow banking system in the U.S. has arguably been one of the more profound developments in the financial industry over the last decade or so. No one doubts that the rise of this system has in many ways pushed the industry beyond the realm of strong regulation, as it sprawls in wa
Bank of America's putback burden still heavy
We all knew Bank of America's Countrywide deal stuck it with a whole lot of bad loans, but it's never been exactly clear how bad. One proxy has been the level of putback exposure the bank has been stuck with. Unfortunately, there have been widely varying estimates of that exposure.
The latest
Bank bailout was direct corporate welfare
We can argue all day about the bailout of the big banks during the financial crisis. Some will argue the government had to bail them or the entire financial system would have seized. Others will claim that more banks should have been allowed to fail, that using public funds in a bailout was simply
The legacy of Angelo Mozilo
So how will history treat Angelo Mozilo? Before the financial crisis hit home and all but destroyed his company, Countrywide, he was a candidate for sainthood. He expanded homeownership with an array of new products and a new mindset toward people who traditionally failed to qualify for loans. At
A seasonal component to bank earnings?
A lot of industries' earnings have a seasonal element. But few thought that bank earnings were in that bucket. A New York Times columnist, however, has eyeballed some FDIC data and suggested there may be something to the idea. "There is a remarkable seasonal pattern to the number of banks repo
Bank of America: No capital raise due to putbacks
The foreclosure fiasco hit at an inopportune time for Bank of America (NYSE: BAC ). The bank was already facing some severe revenue drains in its card operations, and was struggling to offset the losses. The last thing it needed was another massive hit to the income statement. Most likely, the
Citi's bond repurchase exposure higher than thought?
CNBC published an article that suggests Citigroup's exposure to the foreclosure fiasco may be more than commonly thought. By making some assumptions about how the bank acquired its portfolio of mortgages it services but does not own and some assumptions about the rate at which those mortgages
Fannie, Freddie look to alternative mortgage services
Fannie Mae and Freddie Mac perhaps have the most to lose in the foreclosure fiasco. They have already suggested they'll get more litigious with banks and mortgage originators, and seem bent on getting better service when it comes to winding down loans one way or another.
Fannie Mae has re
Hot tub meeting puts Bank of America on trial
Bank of America (NYSE: BAC ) thought it won a legal victory when a federal judge in Virginia ruled that the banks did not have to stand trial for its role in a real estate scam that victimized school teachers in Fairfax County, Va. But the revelation of a hot tub meeting involving a Bank of Ame
