Washington Mutual demanda a la FDIC por 17 billones US$ + daños

Simpson desaparece con las bajadas, no digamos si eliminan las acciones no oiras hablar de el nunca jamas. Jajaja

No creo que desaparezca... ha dado bastante la cara desde que abrió el hilo.

Ha sido intachable en ese aspecto, diría que demasiado, hasta el punto que Manzanilla se dio el lujo de exhibiciones públicas con links nominales. Incorrecto proceder bajo mi punto de vista.

Es por eso que se le ha dado un voto de confianza, no tanto por su optimismo pero sí en ese aspecto.

JPMorgan Chase’s bombshell announcement – mortgage division winding down
Tara Steele | July 28, 2011 | 4 Comments
Chase bank projection in Fulton Market, Chicago. Photo by Seth Anderson.
Washington Mutual and JPMorgan Chase
In 2008, the Federal Deposit Insurance Corporation (FDIC) seized Washington Mutual Bank (WaMu), then facilitated its sale to JPMorgan Chase.

Since the sale, the economic crash has deepened and endless lawsuits from individuals, state agencies and federal agencies, putting banks like Chase at the center of investigations and lawsuits. Chase was most recently sued for reporting to credit agencies that one of their live mortgage holders was dead, allegedly destroying her credit, and in April, the bank settled a class action suit by military homeowners for $48 million due to illegal foreclosures. The bank has even attracted an advocacy group that came to their corporate headquarters and performed an exorcism.

Mortgage division winding down over time
In June, Chase ejected their head of home lending for the bank’s tarnished record. The Seattle Times is reporting that Chase CEO Jamie Dimon stated today that they are winding down their $154 billion mortgage portfolio, reducing its size by 10-15% per year until it gets “close to zero.”

Fifty states attorneys general have named JPMorgan Chase and numerous other banks as the center of their mortgage probes, which Dimon stated he would prefer to settle now rather than over the years it will likely take as each state probes individually with separate penalties.

Without naming any specific incidents, Dimon affirms the many errors made in the mortgage division that has led to the paced reduction of the division.

The biggest drag on the bank has been WaMu
Despite errors, it appears that the biggest drag on the bank has been the acquisition of WaMu and their portfolio. On an industry call, Dimon reported that WaMu mortgages account for 10% of the current Chase portfolio. The bank has set aside $4.91 billion of its $28.5 billion loan-loss allowance specifically for WaMu loans, a disproportionate amount to the small percentage of the Chase portfolio it accounts for.

Chase holds $69 billion in former WaMu loans, and 26.2% of those are 30 days or more past due whereas Chase’s loans are barely at 6% delinquent, a major disconnect between the two portfolios despite sharing an umbrella. Dimon’s demeanor was no longer snide as it have been in the past, and although not exactly dripping in humility, it is clear that the undoing of the entire mortgage division is what Dimon sees as the bank’s way to stay afloat.

More regulations are on the way and in one week, we have seen MetLife opt to shut down their retail bank and JPMorgan Chase shut down their mortgage division. Time will tell if more divisions or banks will wind down as investigations and regulations are enforced.

Hoy he puesto un link con esta noticia, precisamente la circunstancia de que los prestamos Wamu perjudican notablemente a las cuentas de JPM no es un dato a favor en el proceso judicial, ya que confirma la compra negativa de la compañia por parte de JPM, confirmando que además no van a poner dinero para satisfacer a los accionistas.

Bueno bueno Simpson subidas frenadas y alegria congelada de momento, ¿Tranquilo? Ya, yo tambien, la especulacion a la orden del dia sin saber que camino tomarán los precios la próxima semana.

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=te&bn=86316&tid=811267&mid=811267&tof=6&frt=2#811267

El fraude del que habla no se ha demostrado en el Juicio, mucho sobres cerrados y supuestos acuerdos pero a la hora de la verdad es la Juez la que va a decidir el destino del Plan. Ya aprobó el DS ¿Porque no lo rechazó entonces cuando gran parte de las objeciones lo evideciaban? ¿Tranquilidad esperando Simpson? Debe ser a base de buenos calmantes que te tomas antes de leer sobre el caso. Jajaja

http://finance.yahoo.com/q?s=WMI.F

Simpson, cuando bajan las acciones, a la playa ¿NO?. Jajaja

Hay que estar a las verdes y a las maduras