With the release of the company’s Q1 2016 earnings statement right around the corner, Bank of America CEO Brian Moynihan said in his letter to shareholders in the 2015 Annual Report that the bank is “no longer clouded over by heavy mortgage and crisis-related litigation and operating costs.”
Read More »The Week Ahead: Will Existing-Home Sales Recover From TRID Backlog?
The National Association of Realtors’ Existing-Home Sales report for December 2015 comes out on Friday, January 22. The industry will be waiting to see if the numbers will ...
Read More »Flagstar Reports Jump in Profits for Q1
The first quarter of 2015 also brought in a 15 percent increase in revenue and a 2 percent decline in operating expenses when compared to 2014, and interest-earning assets rose 8 percent over the last quarter. Warehouse lending also saw an increase of 15 percent since 2014.
Read More »BB&T Earnings Drop in Q1
But while earnings dropped, mortgage-banking income and actual revenues for BB&T both increased. Since Q1 last year, mortgage-banking income rose by 48.6 percent, and total revenues for the company jumped by 1.5 percent, or $34 million, coming in at $2.3 billion total.
Read More »Improved Assets Lead to Strong First Quarter for SunTrust
The Atlanta-based bank reported $411 million in net income, or 78 cents per share, which translates to a 7 percent increase over Q1 of 2014 and $33 million more than in Q4.
Read More »Goldman Sachs, Citigroup Report Strong First Quarters
Goldman CEO Lloyd Blankfein said he was pleased with the fact that “all of our major businesses contributed” to the strong first quarter. “Given more normalized markets and higher levels of client activity, we remain encouraged about the prospects for continued growth,” he said.
Read More »Bank of America Reports Q1 Net Income of $3.4 Billion, In Part Due to Rise in Originations
The decline can be attributed to a reduction of $757 in equity investment income and $211 million related to additional market-related adjustments on the bank's debt securities portfolio, due to long-term lower interest rates' impact.
Read More »Chase, Wells Fargo Post Solid Q1 Revenues
Wells Fargo's noninterest income for Q1, $10.3 billion, was an increase of $29 million from the previous quarter. The bank received higher income from trading activities, debt security gains, mortgage origination gains, and insurance, which were offset by lower other income, such as from mortgage servicing (which were $108 million for Q1, compared to $235 million for the previous quarter).
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