Banks could face new source of mortgage losses

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Banks could face new source of mortgage losses

Banks could face new source of mortgage losses

Lies, bogus claims catching up…a bit too late

(Reuters) –

A federal housing insurance program may be forced to deny bank claims for money lost in home loan foreclosures, costing them another $13.5 billion in mortgage-related losses, according to a report on Monday from bank analyst Paul Miller of FBR Capital Markets.

Bank of America Corp, JPMorgan Chase & Co and Wells Fargo, three of the four largest U.S. banks, are at risk for the biggest losses, the analyst estimated.

The Federal Housing Authority, which insures …

[REUTERS]

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2 Responses to “Banks could face new source of mortgage losses”

  1. Virginia homeowner defeats OneWest’s motion to intervene into a quiet title action:
    http://bryllaw.blogspot.com/2011/10/virginia-homeowner-defeats-onewests.html

  2. lies is all they tell says:

    i guess they felt the american peopel are stupid remember forrest gumps saying “stupid is what stupid does” need i say more. they thought by telling us not to “pay” our mortgages” they would cash in on the insurance policy faster. by playing by the books they would have had to HAMP modify all these mortgages that are now in foreclosure or forclosed already. through out this mess i get “prove it” prove it? i was current? i did not get up one morning and say. “gosh gee i am not going to pay my mortgage today” and what ruin mine and my kids lives? i am a nurse for over 24years walked hospital floors all these years. i was underemployed. everyone thinks nurses have it great. when your in a job and there is not enough people in the hospital they cancel nurses. we are not salaried if we are canceled we do not get paid. no one ever mentions how the bp oil spill devestated tampa bay area for tourism and it trickeled down to the hospitals. thank you to everyone who has taken it to the streets. i will go to work now knowing i have support

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