- For Wells Fargo, Miller estimates potential losses of $3.55 billion as a servicer and another $3.29 billion in losses as a lender.
- Bank of America could face $2.33 billion in losses as a servicer and $2.12 billion in losses as a lender.
- For JPMorgan Chase, FHA claims denials could lead to losses of $1.39 billion as a servicer and 1.42 billion as a lender.
- Citigroup's (C - Get Report) losses as a servicer from FHA claims denials could total $1.66 billion, while its losses could total $810 million.
- U.S. Bancorp (USB - Get Report) could lose $760 million as a servicer and $700 million as a lender.
- Flagstar Bancorp (FBC - Get Report) faces "implied losses" of $300 million as a servicer and $390 million as a lender from FHA claims denials.
- For PNC Financial Services (PNC - Get Report), the analyst estimates that losses from FHA claims denials as a loan servicer could total $240 million, while the company's losses as a lender could total $210 million.
Banks Face New Multibillion-Dollar Mortgage Slam: Analyst
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.