Foreclosure Mess May Cost Big Banks $42.3 Bln

The matter of flawed affidavits in connection with mortgage foreclosures could cost the country’s four largest banks an estimated $42.3 billion, according to Royal Bank of Scotland.

  • 20 Oct 2010
The matter of flawed affidavits in connection with mortgage foreclosures could cost the country’s four largest banks an estimated $42.3 billion, according to Royal Bank of Scotland. That is sharply lower than projections by other sources, such as Barclays Capital, which said monetary damages could reach $85 billion. ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 13.02
2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

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3 Wells Fargo Securities 72,661.39 222 9.61%
4 JPMorgan 52,367.24 169 6.93%
5 Credit Suisse 41,885.89 127 5.54%