JUPITER, Florida (July 26, 2011) — Delinquent mortgages continue to threaten the financial health and safety of the nation’s largest banks, according to a new study by Weiss Ratings, the nation’s leading independent provider of bank, credit union and insurance company ratings.
Among the nation’s largest mortgage lenders, Weiss Ratings found that MetLife Bank, California Bank & Trust, plus three Bank of America subsidiaries have the greatest exposure to nonperforming mortgages, reporting more than 42% of capital at risk from troubled mortgages as of March 31, 2011.
In contrast, Citibank, the fourth-largest mortgage lender in the country with $83 billion in mortgages on its books, reported only 6.7% nonperforming loans to capital plus reserves.
View the full release on weissratings.com
