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Bank of America Raises Forecast for Home-Equity Loan Losses (Bloomberg.com)
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May 13 (
Bloomberg
) -- Bank of America Corp., the second- biggest
U.S. Bank
, raised its forecast of home-equity loan losses to more than 2.5 percent. Liam McGee , president of the Charlotte, North Carolina- based company's consumer division, gave the new forecast at a conference in New York sponsored by
UBS
AG. The bank previously projected a loss rate of between 2 percent and 2.5 percent. |
Source News
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May 13 (Bloomberg) -- Bank of America Corp., the second- biggest U.S. bank, widened its forecast of home-equity loan losses beyond projections offered last month, adding to evidence that more consumers are falling behind on the debts. |
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The number of mortgages approved for people buying a home fell to a new low for the second successive month, the Bank of England said today. Just 58,000 loans were approved in April, the lowest since the Bank began collecting data 15 years ago. |
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The number of mortgages approved for people buying a home fell to a new low for the second successive month in April, the Bank of England said. Just 58,000 loans were approved in April, the lowest since the Bank began collecting data 15 years ago. |
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Intro
Hello. I'm Bernard Hickey with the daily briefing from interest.co.nz...
Today, we'll look at whether New Zealand should have a bank deposit insurance scheme, just like in other countries,
And we'll look at the latest on housing prices and offi... |
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