JPMorgan Chase & Co. and Bank of America Corp. are among U.S. banks that may face $54 billion to $106 billion in costs as more investors demand that issuers of mortgage-backed securities repurchase faulty loans, according to Paul Miller of FBR Capital Markets. Miller estimated in September that underwriters of mortgage-backed securities may face losses of $44 billion to $91 billion. The increase reflects that liabilities will rest with issuers of the securities, the analyst wrote today in a note to investors. Miller also said his new estimate reflected banks disclosing more about possible losses.
0 minute readMortgage buybacks may cost banks $106 billion, FBRÕ Miller says
November 29, 2010, 3:36pm
Christine was a reporter with HousingWire through August 2011.see full bio
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Christine was a reporter with HousingWire through August 2011.see full bio