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Bank of America sees higher home equity losses (Reuters via Yahoo! News)
Bank of America Corp on Tuesday increased its forecast for expected losses from home equity loans, citing the deteriorating U.S. housing market.
CONSUMER CREDIT CRISI$ SHOWING UP IN THE CARDS (New York Post)
The money drain from high food and gas prices is causing consumers to fall behind on home-equity loans at Bank of America - at an even faster rate than the bank forecast only three weeks ago. The grim report from the nation's second biggest bank underscored new problems ahead from the widespread debt that consumers piled up by borrowing against inflated home values to finance spending sprees ...
TV best bets (The Record)
MAXED OUT: HARD TIMES, EASY CREDIT AND THE ERA OF PREDATORY LENDERS — Everyone knows credit cards and home-equity loans are still too easy to get, and this 2006 documentary explains why.
First International offers home equity loans (Globes Online)
The program is being offered to customers with a current bank account who take a First International Bank mortgage.
Bank of America Sees Higher Losses on Home Equity (Update1) (Bloomberg.com)
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.
BofA: More losses likely in home-equity loans (The Charlotte Observer)
As home values continue to fall, Bank of America Corp. is preparing for deeper losses on home-equity loans, a top executive said Tuesday. The Charlotte bank's planned acquisition of troubled mortgage lender Countrywide Financial Corp., however, remains on track "at this point," consumer and small business banking executive Liam McGee said at an investor conference in New York. Bank of America ...
BofA foresees higher home-equity loan losses (The Business Journal of Phoenix)
Bank of America Corp. expects the losses on its home-equity portfolio to be higher than its previous estimates of 2 percent to 2.5 percent. (BAC) (CFC)
Bank of America Expects Higher Losses on Home Equity (Update3) (Bloomberg.com)
May 13 (Bloomberg) -- Bank of America Corp. , the nation's biggest consumer bank, said losses on home-equity loans will be even worse than predicted three weeks earlier, adding to evidence that more consumers are falling behind on debts.
MBIA, Ambac Losses Elevate Aaa Concern, Moody's Says (Update3) (Bloomberg.com)
May 13 (Bloomberg) -- MBIA Inc. and Ambac Financial Group Inc. had ``meaningfully'' higher losses on home-equity loans and collateralized debt obligations than anticipated, raising concern about their Aaa status, Moody's Investors Service said.
CBA scores on home loans (Adelaide Now)
CBA has experienced above average growth in its home loans and household and business deposits, but "difficult trading conditions" will have a "negative impact" on second-half earnings.
