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Bank of America Heads Back to the Drawing Board

The potential mortgage putback risk is staggering, according to June 30 data from Federal Reserve filings, supplied by SNL Financial.

Bank of America was servicing $148.8 billion in one-to-four family mortgages loans (excluding home equity lines) for others that were past due over 90 or more days, plus another $22.6 billion in "early-stage delinquency" of 30 to 80 days.

JPMorgan Chase serviced $52.4 billion in one-to-four family mortgage loans for others that were past due 90+ days, plus another $9.0 billion past due 30 to 90 days.

For Wells Fargo, one-to-fours serviced for others that were past due 90+ days totaled $5.9 billion, while those past due 30 to 89 days totaled $14.8 billion.

For Citigroup, one-to-four family mortgages serviced for others that were past due 90 or more days totaled $1.7 billion, while earlier-stage delinquencies within the portfolio serviced for others totaled $5.0 billion.


-- Written by Philip van Doorn in Jupiter, Fla.

To contact the writer, click here: Philip van Doorn.

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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
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