Tag Archives: Profits

Both GSEs reported substantial year-over-year declines in net income for 2015 and FHFA Director Mel Watt said on Thursday that risks facing the FHFA are "certain to escalate" the longer the conservatorships continue.

Many have expressed concerns that the GSEs cannot continue their profitability. Freddie Mac announced on Thursday, however, that it was profitable for the fourth consecutive year in 2015.

One notable exception was Goldman Sachs, which is fresh off a $5.1 billion RMBS settlement.

Largely free from legal costs from a 2014 settlement, SunTrust reported increased earnings for both Q4 and the full year 2015.

Both banks faced their own challenges in 2015, which included an RMBS lawsuit for BNY Mellon and a "lack of scale" for BankUnited, but they still saw substantial gains in earnings.

No more burdened by legal expenses that plagued them in 2014, both Morgan Stanley and Bank of America saw major year-over-year boosts in net income.

Among the news the industry will be watching for in the coming week will be the Q4 and year-end earnings statements for Morgan Stanley and Goldman Sachs, among others.

Both U.S. Bancorp and PNC Financial Services experienced slight declines in net income for the fourth quarter of 2015, and the results for mortgage banking revenues at both banks followed right along,

While the approaching date of December 25, 2015, meant it was beginning to look a lot like Christmas for many, for Citigroup it was beginning to look like the pre-crisis year of 2006.

Overall, the bank's earnings exceeded expectations for Q4, but the mortgage banking division posted a disappointing quarter.