Big banks face billions in losses as they repurchase home loans

08/19/2010 | New York Times (tiered subscription model), The

JPMorgan Chase, Bank of America, Wells Fargo and Citigroup are facing billions of dollars in losses as they are forced to repurchase mortgage loans they originated that have gone sour. The banks have posted losses of $9.8 billion from repurchased loans, but analysts expect that number to reach as much as $30 billion when it is all over.

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New York Times (tiered subscription model), The

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