Chase continues to grow the volume of residential whole loans kept on its balance sheet: $197.3 billion at yearend compared to $181.2 billion at the end of 2016.
Thanks to the new bill signed by President Trump, Wells enjoyed a $3.35 billion after tax benefit. However, the company also recorded a $3.25 billion pre-tax expense tied to “litigation accruals for a variety of matters, including mortgage-related regulatory investigations..."
Kristen Sutton Mork will leave her post as staff director of the House Financial Services Committee to become chief of staff at the Consumer Financial Protection Bureau.
And now for the bad news: The lower corporate tax rate will force Fannie and Freddie to write down the value of their deferred tax assets by $15.3 billion…