Items Tagged with 'Spain'

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  • Monday Morning Cup of Coffee

    [Update 1: Adds ebank closure] A look at the stories on HousingWire’s weekend desk…with more coverage to come on bigger issues: Regulators shut down four banks Friday, bringing the total number of banks shut down in 2009 to 81. The Federal Deposit Insurance Corporation (FDIC) estimates the latest closing will cost more nearly $3.5bn.
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  • BBVA Takes Guaranty, Creates 15th Largest US Bank

    BBVA Compass tonight announced the acquisition of the entire banking operations of Guaranty Bank, based in Austin, Texas. The new entity will not only create the 15th largest commercial bank in the United States, but also the fourth largest in Texas. BBVA Compass is a subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA) a bank headquartered in Northern Spain. BBVA is the second largest bank in the country, followed by Banco Santander, which is also the largest bank in Europe.
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  • GMAC Loses $2bn on Mortgage Operations in Q209

    GMAC Financial Services' mortgage operations contributed $1.8bn net loss to the company's Q209 after-tax net loss of $3.9bn. Mortgage originations grew 40% from the previous quarter, but losses remained heavy. GMAC's mortgage operations including Residential Capital lost a pre-tax $2bn in Q209, compared with $1.8bn in the year-ago quarter. The company said in the earnings statement that these losses were consistent with findings of the government's Supervisory Capital Assessment Program.
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  • Paid Claims Swamp PMI Group in Second Quarter

    The PMI Group, Inc. [stock PMI][/stock] found itself hit with a swarm of paid claims as the number of borrowers defaulting on their mortgages continued to climb during the second quarter. The Walnut Creek, Calif.-based insurer said that it lost $246.3 million in Q2, or $3.03 per share, compared to income of $83.8 million, or $.95 per share, one year earlier.
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