the credit rating agency Standard & Poor's said on Thursday, JP Morgan Chase (JPM), Bank of America (BAC) and other four lenders may face a U.S. $ 31,000,000,000 Total additional expenditure . Prior to this, these loans have already set aside in 2012 for the repurchase of mortgage funds.
Standard & Poor's credit analyst Dana million - Salma (Vandana Sharma) today reported that from 2009 to 2012, the six banks buy mortgages from the total loss could reach about 43 billion U.S. dollars . She pointed out that so far, these banks lost a total of about 12.4 billion U.S. dollars.
In addition to JP Morgan Chase and Bank of America, the other four banks are Wells Fargo (WFC), Citigroup, PNC Financial Services Group (PNC Financial Services Group Inc) (PNC) and the United States UCO Bank (US Bancorp) (USB).
U.S. mortgage finance giants Fannie Mae (FNM) and Freddie Mac (FRE-PWD) and bond insurer MBIA Inc (MBI) is to put pressure on lenders to require the performance of its commitment to repurchase mortgage loans, provided that these mortgages loans proved to be based on inaccurate data released.
Salma said in a report: "The current situation for these banks has brought additional uncertainty. We believe that these banks are just beginning to clean up in the balance sheet of other real estate process.
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