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...US asset-backed and mortgage-backed securitisation issuance has totalled $463bn in 2023, the lowest for this point in a year since 2016, according to Dealogic data....
...It had $120bn of investment securities — which include its $91bn mortgage-backed securities portfolio — at the end of 2022, far exceeding its $74bn total loans....
...Wells Fargo has hired Derek Van Zandt from Citigroup to lead media and telecommunications banking, Bloomberg reported....
...The government created Freddie Mac, Ginnie Mae, mortgage-backed securities, modified mortgages and subsidised rates for homeowners. It was a 1 per cent mortgage era....
...Anna said she does not watch television and only reads Telegram channels she “trusts”....
...Several pointed out that it has avoided the whopping big mistakes of rivals such as Wells Fargo and Citigroup (they all noted that the London Whale was not a good look)....
...He will join the panel on a two-year secondment from the bank beginning in May. Wells Fargo has named Doug Braunstein as a vice-chair....
...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...
...The US Department of Justice alleged that UBS defrauded investors when it sold 40 residential mortgage-backed securities deals between 2006 and 2007, which ultimately sustained substantial losses during...
...there was “complete and mutual trust and a clear unity of purpose” between them....
...The move is the latest attempt by JPMorgan to beef up its legal wealth management business after two decades of trying to break the grip of Citi in New York, as well as that of Wells Fargo, which dominates...
...Blackstone Mortgage Trust and KKR Real Estate Finance Trust, two of the biggest mortgage real estate investment trusts, have halted loans to any new borrowers....
...An even more ominous prospect is the opening of wider fronts in the war that drag in the US as well....
...A bank loan officer denies a customer a third mortgage extension, in order to get a promotion. She gets the promotion....
...Of the Big Six banks, Citigroup, Goldman Sachs, Wells Fargo and Morgan Stanley are all expected to report a drop in their earnings per share this quarter. JPMorgan will be the exception....
...Ben Whitmore, whose funds include the £2.1bn Jupiter UK Special Situations Fund and the £1.6bn Jupiter Income Trust, is leaving at the end of July to set up his own firm....
...By contrast, JPMorgan Chase and Wells Fargo — the nation’s first and third-largest banks, respectively — each had about $40bn in unrealised bond market losses, while fourth-largest Citigroup’s paper losses...
...Scottish Mortgage’s long-term vision for how a handful of growth companies will change the world “may well be correct”, said the rival investment trust chair....
...At the Sohn investment conference in London on Wednesday, Block said he is shorting Blackstone Mortgage Trust, a publicly traded real estate investment trust Blackstone took control of a decade ago as it...
...Unfortunately he included Scottish Mortgage Investment Trust in his portfolio. Investment trusts, along with other kinds of fund, are firmly against the rules of the competition. Bad luck, Louis....
...Adding to investor concerns is the proportion of deposits that lenders invested in longer-dated securities like US Treasuries and mortgage-backed securities when interest rates were low....
...In the UK, property portal Zoopla predicts mortgage-backed sales will fall 28 per cent this year, with cash sales falling just 1 per cent....
...reject the company’s application to convert its flagship product into a bitcoin-backed exchange traded fund....
...The US Securities and Exchange Commission approved new rules which will bring more of the Treasury market onto venues scrutinised by regulators, while limiting leverage in some corners of the market....
...At the end of the first quarter, it had $8.4bn of outstanding loans backed by commercial property, according to the FDIC report. Wells Fargo had $91bn and Bank of America had $60bn....
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