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.
Philip van Doorn. To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV