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Loan Modification

: Loan Modification & Home Loan News

Banks face $52 billion mortgage hit

By Moe Bedard

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The oversight panel estimates the four biggest banks will lose $36 billion on loans that were bundled into securities and sold to Fannie Mae and Freddie Mac, the government-backed mortgage investors, and $16 billion on those sold to private investors. The big four banks have taken losses or reserved for future losses on $21 billion [...]

Full post as published by Loan Modification & Home Loan News on November 16, 2010 (boomark / email).

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