“Keep skunks and bankers at a distance” so the old saying goes. Mortgage bankers may have to ignore that saying, however, given some National Mortgage News data that shows that four companies (Wells Fargo, Bank of America Home Loan, JPMorgan Chase, and Citigroup) control almost 58% of the...
The U.S. may have to temporarily nationalize certain banks , Senate Banking Committee Chairman Christopher Dodd said Friday in an interview on Bloomberg Television. The headlines sent shares of Citigroup and Bank of America down more than 20% on fear they could be involved in any such nationalization...
Top U.S. banking executives said they will do what they can to boost lending and stem foreclosures on Wednesday in a hearing before the House Financial Services Committee. CEOs from Bank of America, Goldman Sachs, Citigroup, Morgan Stanley, Wells Fargo, JPMorgan Chase, Bank of New York Mellon and State...
Three executives from major mortgage industry companies were on the hot seat Friday as the House Committee on Oversight and Government Reform looked into executive compensation at corporations involved in the subprime mortgage-market shakeout. The committee, headed by Rep. Henry Waxman, questioned Angelo...
Three major U.S. banks announced on Monday that they were responding to some week-end jaw-boning by the Treasury Department and forming a consortium to address the beleaguered credit markets. Citigroup, Bank of America, and J. P. Morgan unveiled the broad outlines of a plan to buy troubled assets in...