All Commentary
Friday, October 12, 2012

JPMorgan Profit up 35% with Mortgage Surge


“Revenue from mortgage production was $1.8 billion, up 36 percent from a year earlier, excluding losses for buying back bad mortgage loans sold in the past to investors.

U.S. banks have been enjoying a surge in demand from homeowners to refinance mortgage loans at lower interest rates.” (Chicago Tribune)

A little hair of the dog for those loveable lugs who brought you TBTF, MBS-WMD, and all your Great Recession alphabet soup favorites.

FEE Timely Classic

Blowing Bubbles: Getting Ready for the Next Bust” by Richard W. Fulmer