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Stock Market & Financial Investment News

News Breaks
January 7, 2013
10:10 EDTNSM, FNMA, FMCC, BACNationstar says has received Fannie, Freddie approval to buy MSRs from BofA
Comments made on the Nationstar (NSM) conference call discussing the Bank of America (BAC) servicing portfolio acquisition.
News For NSM;FNMA;FMCC;BAC From The Last 14 Days
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July 16, 2014
08:51 EDTBACBank of America sees reserve releases to decline 'modestly' through rest of year
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08:47 EDTBACBofA now sees 'New BAC" cost savings of $2B to be achieved by Q4
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08:45 EDTBACBofA says balance sheet still positioned for NII benefit as rates move up
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08:36 EDTBACBofA says underlying trading business performed well despite lower volumes
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07:19 EDTNSMNationstar, Walter Investment downgraded to Underperform at Wells Fargo
Wells Fargo downgraded both Nationstar (NSM) and Walter Investment (WAC) to Underperform from Market Perform and reduced its sector weighting for Mortgage Servicers to Underweight from Market Weight after its cash flow analysis pointed to share downside. Wells also highlights the continued regulatory issues for the space. The firm lowered its price target range for Nationstar shares to $25-$27 from $29-$32 and for Walter to $22-$24 from $27-$32. Wells keeps Buy ratings on Home Loan Servicing (HLSS) and PennyMac (PFSI).
07:17 EDTBACBofA/Merrill to hold a roundtable
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07:13 EDTBACBank of America CEO says economy strengthening, customers doing more business
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07:11 EDTBACBank of America reports $21.16 book value per share at June 30
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07:08 EDTBACBofA reports Q2 provision for credit losses $411M, net charge-offs $1.1B
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07:05 EDTBACBofA sees Basel 3 common equity tier 1 ratio up to 9.5%
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07:04 EDTBACAIG to receive $650M in cash in Bank of America settlement
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07:02 EDTBACBank of America reports Q2 EPS ex-items 41c, consensus 29c
Reports Q2 revenue $21.75B, consensus $21.61B. Results include litigation expense of $4.0B pretax or approximately 22c per share after tax.
07:02 EDTBACAIG announces settlement with BofA on residential mortgage related disputes
American International Group (AIG) announced that it has reached a global resolution of its residential mortgage related disputes with Bank of America (BAC). The resolution includes its claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered losses either directly on their own account or in connection with their participation in AIG’s securities lending program. The resolution also covers AIG’s objections to the $8.5 billion settlement of Countrywide’s mortgage repurchase obligations to various investors, as well as disputes concerning the issuance of mortgage guaranty insurance by AIG’s United Guaranty subsidiaries to Bank of America and Countrywide. Under the terms of the settlement, AIG will receive $650M in cash plus its pro rata share of whatever amount is ultimately paid out to investors in connection with the Countrywide repurchase settlement. In addition, the parties have agreed, subject to the approval of Fannie Mae, Freddie Mac and certain other mortgage holders, to resolve the outstanding mortgage guaranty claims disputes in accordance with agreed-to claims processes and payment formulae.
07:01 EDTBACAIG announces settlement with BofA on residential mortgage related disputes
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06:00 EDTNSMNationstar downgraded to Underperform from Market Perform at Wells Fargo
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July 15, 2014
15:29 EDTBACBank of America July 15.5 straddle priced for 3.1% move into Q2
15:19 EDTBACNotable companies reporting before tomorrow's open
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14:32 EDTBACEarnings Preview: Bank of America to report after peers beat expectations
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12:10 EDTBACBank of America technical comments ahead of earnings
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10:12 EDTBACBank of America reports June default rate 3.24% vs. 3.75% last month
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