Fifth Third

BofA Bad Loan Ripple Effect

Let’s see: the US government helps out BofA, and is now asking them to buyback loans? An investor group (including PIMCO, BlackRock, and the Federal Reserve Bank of New York) is deciding whether to sue BofA even after BofA’s recent loan buyback settlement with Fannie and Freddie. As BofA is hammered by bond investors to

Earnings Roundup: Banking and Mortgage Industry

Bank Earnings Banks have virtually doubled 3Q earnings by injecting $8.1 billion into net income from funds they had set aside to cover loan losses. The 18 commercial banks with at least $50 billion in assets earned an adjusted $17 billion in the third quarter – almost half of which came from reducing their loan-loss

14 Banks May Need Capital When Stress Test Results Release May 7

Treasury and the Fed are finalizing debates with US banks over stress tests that will reveal their capital adequacy when results are announced Thursday, May 7. Up to 14 of the 19 largest US banks—including Goldman, GMAC, MetLife, Fifth Third, and Regions—may need to raise common equity in the event the recession worsens. This according

JPM Chase Surprise Profit, How To Value A Bank, Mortgage Bond Buying

JPMorgan Chase has posted a surprise profit for 2008. Wall Street was shocked by the bank’s radical business plan that included not paying $100 million bonuses to failed executives and only lending money to people who could pay it back. Fifth Third Yesterday Fifth Third Bancorp, Ohio’s second largest bank, announced that they had lost