InvestorsHub Logo
Followers 2
Posts 697
Boards Moderated 0
Alias Born 04/08/2008

Re: beentomyrasite post# 998

Thursday, 11/13/2008 3:34:07 PM

Thursday, November 13, 2008 3:34:07 PM

Post# of 1111
commercial loans made to mid-sized company are up 24% since a year ago


Bank of America (BAC, Fortune 500), meanwhile, originated more than $50 billion in mortgage loans and more than $6 billion home equity loans in the third quarter, said Anne Finucane, the institution's global marketing and corporate affairs executive.

Overall, the funding of new loan commitments has increased by 6% this year over previous year, Finucane said. The bank is also actively buying mortgage-backed securities, adding liquidity to this market that's crucial to funding new loans.

At Wells Fargo (WFC, Fortune 500), commercial loans made to mid-sized company are up 24% since a year ago, while consumer loans are up almost 9% in the third quarter compared to a year ago, said Jon Campbell, Wells' regional banking president.

http://money.cnn.com/2008/11/13/news/economy/dodd_hearing/index.htm?postversion=2008111310
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.