Mortgage mess

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Mortgage Mess Costs Banks $66 Billion, So Far

Sep 20, 2011By

The fall out from non-performing mortgages and foreclosure abuses have led to costs of just under $66 billion for the nations five largest banks.   According to data from Bloomberg News, the addition of new claims filed by the Federal Housing Finance Authority (FHFA) and AIG will continue to push that total up to twice the current amount. Bank of America has suffered the biggest costs to date with $39.1 billion since the start of 2007.  JPMorgan Chase was second with $16.3 billion.  Wells Fargo ranked third with $5.09 billion in losses.  Ally (formerly GMAC) at $3.28 billion in

3d rendering of a row of luxury townhouses along a street

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