CNBC.com Article: Mortgage Problems Still a Big Drag on Bank Earnings-Danville Real Estate-Pleasanton Real Estate-San Jose Real Estate
CNBC.com Article: Mortgage Problems Still a Big Drag on Bank Earnings
If there’s one takeaway from the banks’ first-quarter earnings this week, it’s got to be this: Mortgages are still a real problem.
Full Story:
http://www.cnbc.com/id/42613445
This article was published by CNBC and highlights the issues that many banks are having with distressed mortgages. The big 3, which are Wells Fargo, Chase, and Bank of America have been especially hard hit as a result of their purchases of Wachovia, Washington Mutual, and Countrywide. All of which were known for writing sub-prime mortgages.
