Headlines and Blogs from Around the Web
JPMorgan Chase (JPM) and Wells Fargo (WFC) made a lot of money last quarter. JPMorgan’s investment bankers closed a lot of deals, and Wells Fargo’s mortgage lenders stayed fairly busy.
The home loan business came through for Wells Fargo & Co in the second quarter, helping the biggest U.S. mortgage lender beat Wall Street's profit expectations, despite fears that lending volume would drop as rates rose.
MarketWatch’s Sital Patel live-blogged J.P. Morgan Chase’s call with analysts, after the country’s largest bank by assets reported that its profit rose by 31% during the second quarter.
Commercial mortgage-backed securities fell to record lows over the course of three years due to increased sales of real estate-owned properties, Fitch Ratings reported Monday.
Many investors have expected for years that interest rates on mortgage loans would eventually rise from record-low levels. But the recent rise in mortgage rates has taken everyone by surprise because of the speed with which rates rose and the extent of their jump.
Second-quarter earnings surged at two of the nation's largest banks, JPMorgan Chase and Wells Fargo, as reduced loan losses more than offset the beginnings of a slowdown in mortgage lending provoked by rising interest rates.
Had the country's biggest banks worked in good faith with struggling homeowners under a mortgage modification program, the foreclosure crisis would have been sharply curtailed. But instead of giving homeowners fair consideration under the federal program, too many big banks served their own interests.
While many parts of the U.S. economy have slowly chugged along, the housing market recovery has recently been a consistent bright spot.
Last week saw the first hearing in the U.S. government’s court case attempting to hold ratings agencies accountable for their role in the financial crisis. Reforming the ratings agencies has turned out to be a difficult process.
How do mortgages make it to Wall Street anyway? None of the following is essential to understanding mortgages from a personal finance standpoint, I just thought the details of mortgage securitization and mortgage bond trading and structuring would be interesting for some people.
Mortgage rates have skyrocketed over the past few months. Just one week ago, they set a record for the largest single-day increase in history, leading industry experts such as Matthew Graham, chief operating officer of Mortgage News Daily, to characterize it as a "catastrophic surge."
The trial of Fabrice "Fabulous Fab" Tourre — a former Goldman Sachs trader who is accused of intentionally selling bad investments and making up terrible nicknames for himself — begins tomorrow.
Sens. Bob Corker and Mark Warner have offered a bill that takes a significant step toward developing a new structure for the mortgage-backed securities market.
Following the recent revelations from former Bank of America employees that the nation’s most-hated financial institution allegedly engaged in deliberate schemes to delay and deny mortgage modifications, a group of three homeowners have sued BofA, alleging violations of federal anti-racketeering laws.
Wells Fargo & Co. Chief Financial Officer Timothy Sloan told investors Friday that despite a decline in mortgage applications, the pipeline so far remains strong.
As U.S. treasury yields have been pushed significantly higher than their previous lows, those who have held mortgage backed securities and other secured credit have been in a fix to hedge their positions in a market with sudden rising rates.
The Mortgage News Ticker is a collection of news articles, magazine stories and blog posts from around the web. The opinion expressed are those of the news sources and do not reflect that of National Mortgage Professional Magazine, NationalMortgageProfessional.com, NMP Media Corp. or its affiliates.