twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Bank news

Bank Earnings Up, But So are Failures & Problem Banks

FDIC-insured banks earn $20 billion in Q4

Feb. 23, 2011

By MortgageDaily.com staff


It was the second-best quarter for bank earnings in nearly four years as institutions increased their mortgage portfolios. Last year's bank failures were the most in 19 years, and the growing number of "problem institutions" suggests a new milestone could be set this year.

Bank-owned loans secured by one- to four-family residences totaled $1.8976 trillion in the fourth quarter, rising from $1.8805 trillion in the previous quarter, according to the Federal Deposit Insurance Corp.'s Quarterly Banking Profile. Holdings were lower, however, than $1.9158 trillion in the final period of the previous year.

Home loans that were at least 30 days past due accounted for 12.28 percent of portfolio loans, improving from 12.53 percent in the third quarter and 12.49 in the last three months of 2009.

Delinquency of between 30 and 89 days on home loans was 2.84 percent in the latest quarter, while the 90-day rate was 9.44 percent.

Another $0.6369 trillion in home-equity lines of credit were owned by the sector, lower than the third quarter's $0.6479 trillion and the fourth-quarter 2009's $0.6616 trillion

HELOC delinquency climbed from 3.05 percent in the third quarter to 3.10 percent. HELOC lates were better, however, than 3.15 percent 12 months prior.

Construction and development holdings fell to $0.3216 trillion from $0.3541 trillion three months earlier and $0.4507 trillion a year earlier.

Delinquency on multifamily loans was 4.84 percent, much better than the 5.64 percent at the end of the prior year.

Fourth-quarter net operating income at banks was $19.8 billion, swinging from a $1.7 billion loss a year earlier and reaching "the second-highest quarterly total reported since second quarter 2007." Earnings in the third-quarter 2010 were $14.5 billion.

"The greatest year-over-year improvement in earnings occurred at the largest banks," the report stated. "But almost two out of every three institutions (62 percent) reported better net income than a year ago."

On an annual basis, earnings swung from a $6.1 billion loss in 2009 to a profit of $81.6 billion.

There were 7,657 FDIC-insured institutions reporting last year, down from 8,012 in 2009. The latest total reflected 197 institutions that were absorbed through mergers during the year and 11 new reporters -- the fewest new reporters ever during the FDIC's 77-year history. The Dec. 31, 2010, total included 6,529 commercial institutions and 1,128 thrifts.

Of the most recent figure, 716 banks and thrifts had a concentration in mortgages.

The report indicated that 884 of the reporting banks were considered "problem institutions," more than the third quarter's 860. A year earlier, the count stood at just 702.

Last year's 157 FDIC-insured bank failures were the most casualties recorded since 1992, when 181 institutions failed. During 2009, there were 140 bank failures.

Federally insured banks and thrifts employed 2,086,357 people in the fourth quarter, more than the 2,042,030 employees reported for the prior quarter and the 2,062,950 headcount in the final three months of 2009.

next story

back to current headlines


Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.

www.mortgagebranchmanagerjobs.com
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders