Items Tagged with 'Write-off'


  • Regions Posts Q4 Loss Amid $6 Billion Goodwill Write-down

    Regions Financial Corporation [stock RF][/stock] reported a $6.2 billion, or $9.01 per share, fourth-quarter loss Tuesday, largely driven by a $6 billion goodwill write-down and raised loan-loss provisions. The company's non-performing assets eased slightly in the fourth quarter, but full-year losses still reached $5.6 billion or $8.09 per share.
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  • Wall Street Execs Weigh in on Securitization Accounting

    In plain English, much of the securitization model that has fueled the modern mortgage market is tied to what's known as a Qualifying Special Purpose Entity -- or QSPE for short, and often called "the Q" in industry slang. QPSEs receive off-balance sheet treatment, or "sale accounting" treatment, that has largely enabled much of the growth in modern secondary markets.
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  • Morgan Stanley Confirms $3.7 Billion Writedown Tied to Subprime Exposure

    Morgan Stanley said today that revenues in September and October were hit by $3.7 billion in writedowns tied to continued decline in the fair value of the company's subprime-related assets. The confirmation comes on the heels of a WSJ report yesterday that had projected $3.0 to $6.0 billion in fourth quarter write-downs for the Wall Street giant.
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  • Countrywide Considering Layoffs of 10,000

    Per National Mortgage News, Countrywide Financial is considering a move that would literally shake the mortgage and financial markets -- a layoff of 7,000 to 10,000 workers. Such a move would be the largest mass layoff in mortgage industry history outside of a bankruptcy filing, the publication reported. Countrywide currently employs roughly 60,000. NMN also reported that the company is preparing to take a multimillion-dollar writedown on its held-for-sale portfolio, citing unidentified sources.
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