Excellent Fourth Quarter for Banks
The banks completed their fourth-quarter call reports to regulators this week and they are much better than I was anticipating. I will be writing about various aspects of them over the next few weeks, but the first data series that needs to be discussed is the non-performing mortgages (NPL).
I've written several columns on this subject over the past few years as the data has been mixed to negative. This is the first report since the 2008 financial crisis where all four of the dominant money centers, JPMorgan Chase (JPM), Bank of America (BAC), Citi (C), and Wells Fargo (WFC) reported strong and impressive performance in the area of their non-performing loans. ...312 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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