Loans digger

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Already burned by bad mortgages on their books, lenders now are feeling rising heat from loans they sold to investors.
Unhappy buyers of subprime mortgages, home-equity loans and other real-estate loans are trying to force banks and mortgage companies to repurchase a growing pile of troubled loans. The pressure is the result […]

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Millions of dollars in bad loans caused by China’s massive earthquake will be written off in an effort to help disaster victims, the nation’s bank regulator said Saturday.
“If borrowers suffered huge losses that cannot be covered by insurance, or if the insurance or guarantees are not enough for the debts, the loans […]

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Fifth Third Bancorp, Ohio’s second- largest lender, said fourth-quarter earnings dropped 42 percent on an increase in costs for bad loans and an insurance-related writedown.
Net income fell to $38 million, or 7 cents a share, from $66 million, or 12 cents, the Cincinnati-based company said today in a statement. The bank missed the average […]

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