Challenges in the mortgage industry took their bite out of Countrywide Financial's CFC first-quarter results. Nevertheless, we expect to modestly increase our fair value estimate as we transfer coverage to a new analyst. Earnings fell 35% from the prior-year quarter, to $0.72 per share. This ...
Fitch: Countrywide Settlement Yields Little Ratings Impact for U.S. RMBS
Some deep-value investors have significant stakes in these troubled firms.
Plus, changes to Evergreen's lineup, Davis' bargain-hunting, and more.
The current credit crisis has provided a once-in-a-decade opportunity to buy the large money-center banks.
Getting out of level one.
Subprime and housing woes lead to wider asset repricing.
Look at the financial section of practically any national newspaper on any given day, and one is liable to see an article about the weak housing market or the so-called subprime meltdown. It is easy to imagine that a weak housing market might be causing problems for mortgage banks like Washington ...
A large settlement with the Department of Justice resolves much of the bank’s crisis-era misdeeds, but it’s difficult to foresee a day when B of A and its peers are free of improprieties and the associated costs, says Morningstar’s Jim Sinegal.