40% of Bank of America home loans are at least three months past due!

Discussion in 'Economy' started by FireFly, May 10, 2011.

  1. FireFly
    Offline

    FireFly Bright F**ker

    Joined:
    Oct 17, 2009
    Messages:
    1,215
    Thanks Received:
    492
    Trophy Points:
    263
    Ratings:
    +520
  2. william the wie
    Offline

    william the wie Gold Member

    Joined:
    Nov 18, 2009
    Messages:
    7,263
    Thanks Received:
    672
    Trophy Points:
    175
    Ratings:
    +1,602
    Given BofA's crappy inventory of loans I'm surprised that they are doing this well.
     
  3. FireFly
    Offline

    FireFly Bright F**ker

    Joined:
    Oct 17, 2009
    Messages:
    1,215
    Thanks Received:
    492
    Trophy Points:
    263
    Ratings:
    +520
    I guess that acquisition of Countrywide was not such a good idea.:lol:
     
    • Thank You! Thank You! x 1
  4. sparky
    Offline

    sparky VIP Member

    Joined:
    Oct 19, 2008
    Messages:
    3,326
    Thanks Received:
    324
    Trophy Points:
    83
    Location:
    paradise
    Ratings:
    +341
    One would think any given company that assumes a 40% failure rate something of a concern to it's board of directors, unless of course, the gov teat is involved on the horizon.....
     
  5. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Must have been a good year for bonuses at BoA?
     
  6. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    source
     
    • Thank You! Thank You! x 1
  7. FireFly
    Offline

    FireFly Bright F**ker

    Joined:
    Oct 17, 2009
    Messages:
    1,215
    Thanks Received:
    492
    Trophy Points:
    263
    Ratings:
    +520
    I don't understand how the bank could even be solvent right now? They would have to have a leverage ratio of 2.5 to 1 to still be solvent. But they were supposedly leveraged at 11.7 to 1. Where did they get the cash to keep the doors open?
     
    Last edited: Jun 6, 2011
  8. FireFly
    Offline

    FireFly Bright F**ker

    Joined:
    Oct 17, 2009
    Messages:
    1,215
    Thanks Received:
    492
    Trophy Points:
    263
    Ratings:
    +520
    A default rate of 5.47 percent would make Fannie Mae insolvent at a leverage ratio higher than 18.3 to 1. They were leveraged to 70 to 1 so there is no way they are even close to solvency either.
     
  9. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    BoA is too big to fail so no worries.
     
  10. Douger
    Offline

    Douger BANNED

    Joined:
    Jun 25, 2009
    Messages:
    12,323
    Thanks Received:
    915
    Trophy Points:
    0
    Location:
    Not fucking there !
    Ratings:
    +915
    They borrowed it from you, your children, grandchildren and great grandchildrens childrens children.
    Don't worry. They have no plans on paying it back.
    [ame=http://www.youtube.com/watch?v=oOpQkRsEfaU&feature=related]YouTube - ‪Senator Sanders asks Bernanke WHERE IS THE MONEY!!!‬‏[/ame]
     
    • Thank You! Thank You! x 1

Share This Page