Archive for the ‘Loan Losses’ tag
Fed Must Protect the Markets from Relapse, Kohn Says
Testifying before the Senate Banking Committee on risk management and
systemic risk, Federal Reserve Vice-Chairman Donald Kohn
said that while liquidity pressures have eased, the Federal Reserve must
protect the markets from a possible relapse.
Kohn said that home loan losses are increasingly
significantly and that the commercial real estate market needs
to be supervised closely. Kohn added that…
Another Loss for Countrywide as Bank of America Plans for Future
Countrywide Financial Corporation logged in on
Tuesday with its third consecutive quarterly loss due to a sharp increase
it its provision for loan losses.
On Tuesday the Nashville Business Journal reported that Bank of
America is planning to modify or otherwise work out some
265,000 Countrywide loans, allowing those customers to stay in their
homes.
The troubled loans that Bank of America has targeted for workout…