Banks Underestimate Home Price Declines - Mortgage Forums for Mortgage Brokers

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Banks Underestimate Home Price Declines

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07-16-2008, 07:32 PM

Veronica Corningstone Veronica Corningstone is offline

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Banks Underestimate Home Price Declines

A new report from Oppenheimer indicates some banks can expect further declines in the price of their stocks until they "get real" about the market. "We believe that banks' carrying valuations on mortgage related assets are still too high, but it varies by degree," the report, released Tuesday, said. "For the financial markets to stabilize, we believe banks need to swiftly address true <font size="3" face="Times New Roman,Georgia,Times">asset values and adjust their books accordingly."

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