This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bank of America Mortgage Retreat Benefits These 6 Banks

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

2. New York Community Bancorp (NYB)

New York Community saw its mortgage origination market share remain roughly flat at just 0.7% during the fourth quarter as compared to where it stood in 2010. Nonetheless, FB's Miller believes that will change going forward.

During the company's conference call following fourth quarter earnings, President and CEO Joseph Ficalora referred to "strong" mortgage banking income of $24.7 million.

Ficalora also highlighted potential government boosts to the mortgage business on the call.

" The reality is that there are people in the Congress that recognize that some aspects of the regulatory environment are presenting a conflict with the ability for banking, at least, to increase its lending. So there is an effort in Washington to try and re-stabilize the situation somewhat," he said

Thomas Cangemi, the bank's CFO, added that "given our positioning as a mortgage bank, given the timeframe when we actually got into the business, if there is, let's call it, significant changes on the residential side to stimulate activity in the mortgage financing market, we should be a beneficiary there."
6 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BAC $14.04 -0.67%
BBT $33.98 -0.38%
C $44.22 -0.99%
FITB $17.49 -0.29%
PNC $85.29 -0.09%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs