Bank of America, J.P. Morgan and Wells Fargo vie with insurers, Fannie, Freddie
SAN FRANCISCO (MarketWatch) -- Just when they thought the worst of the mortgage crisis was behind them, billions of dollars in bad loans from the debacle may be rising from the dead and creeping back on the balance sheets of the largest U.S. banks.
The banks are setting aside more reserves to cover the potential costs of such repurchases, cutting into earnings.
The Hedge Fund Manager and His Frog
Hedge fund manager Robert Appleby has a longtime passion for amphibians. His philanthropic funding for the study of frogs has resulted in the discovery of a new species named after him, Lam Thuy Vo reports.
The trend is also pitting big lenders, insurers and mortgage-finance institutions against each other. That's a big change from the previous decade, .............http://www.marketwatch.com/story/banks-10-billion-problem-loan-repurchases-2010-02-03?dist=afterbell
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