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BofA warns more home equity losses are coming (The Charlotte Observer)
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Bank of America Corp. worked hard for its stake in home equity loans, becoming the country's biggest originator in 2005. Now, that position is socking the bank with big-time losses as housing prices fall and defaults rise. Monday, the Charlotte bank largely blamed its falling earnings on rising home-equity loan losses, and it warned that more are on the way. The quick decline in credit quality ... |
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More items about Home Equity Loan similar to this News
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HOUSING Finance Bank Ltd has introduced a new loan product called Equity Release Loan. Stephen Ilungole spoke to Patrick Kabonero, the bank's executive director about the benefits of the facility. |
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Lenders were more likely to end up with an undervalued asset at the maturation of the loan. Unfortunately it has crippled retirees who were banking on home equity to make it through retirement. Seniors banking on their house find ... |
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Feb. 25 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank by assets, may post its second-straight quarterly loss because of writedowns on home-equity loans and junk-grade corporate loans, Oppenheimer & Co.'s Meredith Whitney said. |
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Across the streets from my apartment. There are two banks. The US Bank put up an obnoxious home equity loan sign and I wrote a witty complaint letter asking that they take it down. They did. Hooya! |
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Bank of England figures show a fall in new mortgage approvals and a record rise in other loans. |
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Despite worldwide interest rate cuts, bank-to-bank lending costs keep rising, a bad sign for paralyzed market |
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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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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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