Items Tagged with 'Earnings'


  • Bank of America net income drops nearly 50% after tax reform

    But pretax earnings rose 17%
    Bank of America reported its net income dropped in the final quarter of 2017 due to expenses from tax reform, however without these expenses, its earnings surged 17%. The bank’s CEO said the company had a positive year, claiming, “We invested in technology, client engagement, and in our own team, including the $1,000 bonus we announced last month for 145,000 employees.”
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  • JPMorgan net income plummets 37% due to tax reform

    Before tax reform net income fell 1%
    JPMorgan Chase reported a decrease in its earnings in the fourth quarter of 2017 as the company experienced impacts from the recently enacted Tax Cuts and Jobs Act. The company reported a net income of $4.2 billion in the fourth quarter of 2017, down 37% from $6.73 billion in the third quarter and in the fourth quarter of 2016.
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  • Wells Fargo pays $3.25 billion in Q4 for mortgage regulatory investigations, sales practices

    Mortgage banking creates pull on bank’s income
    2017 has been quite a year for Wells Fargo, as it continued to face fallout from its massive fake accounts scandal. Now, the bank’s fourth quarter earnings show Wells Fargo paid a total of $3.25 billion in pre-tax expenses for litigation accruals on a variety of matters including mortgage-related regulatory investigations, sales practices and other consumer-related matters.
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  • Goldman Sachs earnings beat expectations in third quarter

    Boosted by higher net revenue from mortgages
    Goldman Sachs reported earnings that not only increased from last quarter and last year, but also beat expectations. Mortgages performed well in the quarter, and even offset a loss from net revenues in other areas such as commodities, interest rate products and credit products.
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  • Black Knight net income tumbles 43% in second quarter

    Revenues increase slightly from last year
    Black Knight reported a drop of 43% in its net earnings, and earnings per diluted share were nearly cut in half. However, the company still saw an increase of 3% in its revenues, and the company CEO explained the fundamentals of the business remain strong.
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  • MGIC revenues fall slightly in Q2 2017

    New insurance written sees modest increase
    Mortgage Guaranty Insurance Corp. reported a slight drop in its revenues, however its net income and diluted earnings per share increased. The company's CEO explained that during the second quarter, the majority of MGIC’s 2% convertible senior notes due in 2020 were converted to shares of common stock and the remainder were redeemed.
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  • What to expect from Bank of America Q2 earnings report

    Expect lower mortgage banking income
    Bank of America is expected to report a drop in mortgage lending income in the second quarter. Recently, the Mortgage Bankers Association updated its forecast as its prediction for mortgage originations dwindled. Check back first thing Tuesday to see the bank's earnings for the second quarter.
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