TITLE

BankUnited Posts Loss, Plans Refis

AUTHOR(S)
Dobbs, Kevin
PUB. DATE
August 2008
SOURCE
American Banker;8/11/2008, Vol. 173 Issue 154, p16
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that BankUnited Financial Corp. announced on August 8, 2008 that it had lost $117 million in the third fiscal quarter of 2008. The company blamed losses in its mortgage loans for the quarterly loss. It plans to work hard throughout 2008 to keep its customers from defaulting, especially those who have adjustable rate mortgages .
ACCESSION #
33665158

 

Related Articles

  • BankUnited Curtails Option ARM Lending. Gordon, Jennifer // American Banker;5/13/2008, Vol. 173 Issue 92, p2 

    The article reports on efforts by BankUnited Financial Corp. to become more financially stable. A focus is given adjustable-rate mortgages (ARM's), including how to get current customers out of them, as well as a plan to stop originating these loans. The four-pronged plan, the article states, is...

  • Bank United of Florida Scaling Back Pay-Option Lending. Muolo, Paul // National Mortgage News;6/2/2008, Vol. 32 Issue 35, p2 

    The article reports that BankUnited Financial Corp. (BUFC), one of the leaders in the Adjustable Rate Mortgage (ARM) market in Coral Gables, Florida is scaling back the production of its payment-option ARM (POA) market. It states that the balance sheet of BUFC holds $7.4 billion in POAs. It...

  • BankUnited Capital Caution. Kuehner-Hebert, Katie // American Banker;12/18/2008, Vol. 173 Issue 243, p1 

    The article reports that BankUnited Financial Corp. may be closed down if it fails to meet a regulatory requirement by the U.S. Office of Thrift Supervision to secure additional capital. The $14.2 billion-asset company suffered several consecutive quarterly losses as it struggled to overcome...

  • … But Subprime Problems Persist. Collins, Brian // Mortgage Servicing News;Feb2007, Vol. 11 Issue 1, p1 

    The article reports on the increase of the default rates of subprime loans in 2006 in the U.S. Default rates on mortgage-backed securities increases from 6.9 percent to 9.1 percent in October as well as in the Midwest and England. Rates in hurricane-impacted states remained the same while rates...

  • BankUnited Defends Itself. McGeer, Bonnie // American Banker;9/15/2006, Vol. 171 Issue 178, p1 

    The article focuses on the decline of BankUnited Financial Corp.'s stock between August and September 2006. Shares of BankUnited have declined by 15% since August 8, 2006. The article inverviews Alfred Camner, the chairman and chief executive officer of BankUnited Financial Corp. According to...

  • The Growing Presence of IOs May Have Ramifications for Performance.  // National Mortgage News;6/7/2004, Vol. 28 Issue 37, p21 

    Reports that interest-only mortgages can represent as much as two-thirds of adjustable-rate mortgage pools securitized. Implications for the performance of residential mortgage-backed securities; Exposure of lenders and investors to risk of bigger losses when a borrower defaults; Insights from...

  • Loan-Mod Program Seen as Outdated.  // American Banker;10/13/2009, Vol. 174 Issue 187, p7 

    The article discusses a Congressional report on efforts by the administration of President Barack Obama to address a mortgage-default crisis in the U.S. The report concludes the Obama initiative is ill-suited to mitigate defaults on prime mortgages and option adjustable-rate mortgages....

  • Subprime Defaults Soar in 2006. Collins, Brian // Mortgage Servicing News;Apr2007, Vol. 11 Issue 3, p1 

    The article reports on the increase on the number of defaults on adjustable-rate subprime loans in 2006 in the U.S. Friedman Billings Ramsey Group Inc.'s report showed that the struggling subprime industry continues to be plagued by early defaults at 4.62 percent in January 2006, up 21percent in...

  • Adjustable-rate loan holders need to develop exit strategy.  // Journal of Business (10756124);11/22/2006, Vol. 21 Issue 24, pB12 

    The article reports on issues concerning adjustable rate mortgages (ARMs) in the U.S. According to Deutsche Bank Global Market Research, resettable debt is expected to double in 2005, 2006, and 2007. Meanwhile, Mortgage Bankers Association said that delinquency rate for ARMs increased 0.51...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics