Why big banks are reporting better-than-expected earnings during the pandemic downturn

Oct 14, 2020
Quarterly earnings for big banks like Citigroup and JPMorgan Chase are beating expectations thanks to a soaring stock market.
Citigroup's net income of $3.2 billion, or $1.40 per share, topped analyst expectations for the third quarter.
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How does the Fed find an extra $2.3 trillion?

Turns out it's much more akin to printing money than it is to borrowing.
The central bank announced yesterday it's making more money available to counteract the economic effects of the pandemic.
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With mortgage delinquencies at a low, can lenders afford to loosen up a bit?

May 14, 2019
Consumer advocates say it's time to loosen restrictions imposed after the housing collapse.
A foreclosure sign.
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What layoffs in the mortgage industry say about our economy

Nov 16, 2018
It’s been a year of transition for Wells Fargo after a series of scandals in its consumer banking business. The company’s paid billions of dollars in penalties and just announced it’s cutting 900 jobs in its mortgage division. The job…

Netflix to borrow an additional $2 billion to fund new shows

Oct 24, 2018
The streaming service has already borrowed more than $8 billion to fund original programming. Can it keep borrowing?
Netflix CEO Reed Hastings delivers a keynote address at CES 2016 at the Venetian Las Vegas.
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Netflix to borrow an additional $2 billion to fund new shows

Oct 24, 2018
The streaming service has already borrowed more than $8 billion to fund original programming. Can it keep borrowing?
Netflix CEO Reed Hastings delivers a keynote address at CES 2016 at the Venetian Las Vegas.
Ethan Miller/Getty Images

Re-Fi? Standby … Rates are not great right now

Oct 19, 2018
Five years ago, refinancing made up 75 percent of the mortgage business. Today, it’s just around 37 percent. With climbing interest rates, demand has dipped and the mortgage industry is poised to shed jobs. Click the audio player above to…

Re-Fi? Standby … Rates are not great right now

Oct 19, 2018
Five years ago, refinancing made up 75 percent of the mortgage business. Today, it’s just around 37 percent. With climbing interest rates, demand has dipped and the mortgage industry is poised to shed jobs. Click the audio player above to…