California Foreclosures Forcing Wells Fargo To Boost Reserves
While this may unnerve some folks, I take it as a very healthy sign. Well Fargo is boosting it’s reserves to deal with the foreclosure problem it is facing, mostly in California. The company is not hiding behind any accounting trickery or denials but is instead recognizing the problem and confronting it.
An analyst said that San Francisco-based Wells Fargo & Co. (NYSE: WFC) might be boosting reserves because of some of its holdings in the California real estate market, which has been very hard hit by the housing slump.
Keefe Bruyette & Woods Inc. analyst Frederick Cannon said in an interview with Bloomberg Television, “Wells Fargo is heavily exposed in areas where we will see significant credit losses over the next two years, and reserve levels are simply too low for those kind of costs. via Business Journal
Although I agree on most points, I would like to point out that most of the banks that are being ...
The question is when are they going to release them on the market. Las Vegas leads the nation in ...
I keep seeing mentions of Florida's market getting better in multiple blogs. I'm increasingly under the assumption that at least ...
I would like to know more about it. I need to know how you file for it. Please let me ...
Great blog, keep the great content coming! 
If you want to succeed, do not say "we can prevent this in the future." Live in reality. ...
The price of the property depends on its quality and the deal between the management. Good and wise choices are ...
I don't have experience at actualy working in tha automotive bussinnes, but have experience working in a warehouse invironment. ...
