Hints and tips:
...Its price to book value of nearly 3 times trumps that for mortgage-heavy Wall Street banks like JPMorgan, Bank of America and Wells Fargo. But Rocket doesn’t have appreciably higher return on equity....
...The JPMorgan banker-turned-exchange boss turning noodles into securities In modern capitalism, you can securitise all sorts of things — mortgages, the loans backing private equity buyouts, car loans, even...
...New loans last week averaged 7.16 per cent, matching levels last seen in 2001, according to data from the Mortgage Bankers Association. Many US households typically borrow on 30-year fixed-rate terms....
...First Republic shares have lost more than 97 per cent of their value this year, driven down by concerns about paper losses on its mortgage book and other assets and massive deposit outflows after the March...
...News round-up Short seller warned US regulator about Signature Bank in January (FT) First Republic rallies as Yellen says US prepared to give more support (FT + Lex) Asia investors ‘gobsmacked’ by $17bn...
...for first time (FT) Bankers’ pay boosted by deferral rules, say BoE advisers (FT) Adler’s restructuring plan fails to get bondholder approval (Bloomberg) Wells Fargo to pay $3.7bn over loan violations...
...Since the beginning of October, Maga Inc, a newly created Trump super Pac, has spent $8.5mn on ads in Ohio, Pennsylvania, Georgia, Nevada and Arizona....
...Boutique investment bank LionTree has hired Andrew Olinick, co-head of North America private equity at London-headquartered 3i, as a managing partner, per Bloomberg....
...From First Boston came Kapito, Fink’s right-hand man on the mortgage trading desk; Barbara Novick, the formidable head of portfolio products; Ben Golub, a maths wizard who had designed many of the bank’s...
...(FT) Banks vs private equity Mutual favours are common practice between private capital and Wall Street....
...We saw similar outcomes for Aurora Capital, which agreed to a deal with the SoftBank-backed mortgage lender Better, and Switchback II, the Spac transporting electric scooter start-up Bird to public markets...
...Suisse First Boston before entering the government....
...This isn’t the first time FTI has faced criticism for its tactics....
...Take former Citigroup banker Michael Klein, for example....
...week, according to the Mortgage Bankers Association....
...Lockhart is a former chief executive of Mastercard and former head of the global retail bank at Bank of America....
...Bankers’ early optimism that the pandemic would manifest as a sharp economic shock followed by an equally rapid recovery — the ubiquitous “V-shaped” recession — has given way to pessimism....
...Larry Fink, chief executive of BlackRock, helped to pioneer mortgage-backed securities as a Wall Street banker in the 1980s....
...“There will be no megadeal this year,” one Tokyo-based M&A banker warned....
...At the end of the day, I’m a banker and not an economist or a politician.”...
...And as we know from the last crisis, when people lose their jobs, they tend to stop paying mortgages, car loans, credit card bills and so on....
...Bankers at JPMorgan Chase have been kept busy, providing more dollars in credit line extensions so far this year than any other bank. This shouldn’t come as a surprise to them....
...Hajime Tamachi, a senior financial services banker at Nomura based in Hong Kong, is leaving the Japanese bank, Bloomberg reported....
...That would make Fraser, who also heads the bank’s consumer division, the first female boss of a major Wall Street bank....
...On the last Sunday of April 2019, a sleek Gulfstream V jet belonging to Occidental Petroleum touched down at Omaha airport....
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