Mathews Associates

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Nation’s Biggest Banks Each Hold over $20B in Foreclosures: Report

Posted by Dwight Mathews on October 26, 2010

graph shows U.S. foreclosure trends (quantity ...
Image via Wikipedia

 

New data released this week by Weiss Ratings, an independent ratings agency, shows that the nations’ largest banks are sitting on over $200 Billion dollars of bad mortgage loans.

According to Martin D. Weiss, chairman of Weiss Ratings;  “In addition to the volume of bad mortgages, the vulnerability of each bank to the foreclosure crisis depends on the capital and loan loss reserves it has set aside to cover losses and other factors such as its earnings, liquidity, reliance on less-stable deposits, and the quality of its overall loan portfolio.”

An estimated 4.1 million borrowers-nearly 1 in 10-are in the process of foreclosure or are more than 90 days delinquent and heading that way soon.  You can read about this in more detail via the link below.

 

 

Nation’s Biggest Banks Each Hold over $20B in Foreclosures: Report.

 

 

 

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