Despite challenging economic times, a lack of retirement funding options for many baby boomers and a rapidly growing 62+ segment, the market penetration of reverse mortgages seems to have plateaued around 2%. It’s a harsh reality for an industry that saw volume surge from 6,640 units during fiscal year 2000 to 114,692 units in 2009.

As of December 2010, the reverse mortgage industry stands at 2.24% market penetration according to data from Reverse Market Insight. In order to break through that plateau, the industry needs to reach the other 75% of older American households in a meaningful way, says John Lunde, President of RMI.

The environment seems to indicate that more eligible borrowers would seek reverse mortgages for the solution to the growing problem of retiring at home. But, despite 10,000 baby boomers turning 65 each day, a laundry list of challenges including increased regulation, lower home values, principal limit reductions, distrust of those in the mortgage business and others, has led to a volume drop for the first time in almost a decade during 2010.

As the industry works to fight back from a rough year, many are optimistic about the future and believe it could break the 2% penetration level plateau through several avenues: public perception, regaining lost volume and a big bet on the HECM Saver.

Perception

Industry exits by Bank of America and Financial Freedom sent the industry reeling this year as it not only saw volume declines from two of the largest and steadfast lenders, but also gained widespread press. When a company the size of Bank of America leaves the industry, it doesn’t send the strongest message to the public.

“I think the Bank of American departure is a bigger issue in terms of the perception that we are a mainstream product,” says Jeff Lewis, chairman of Generation Mortgage. “The perception is very important in terms of maintaining investor confidence and growing the business, making people feel comfortable as borrowers in doing the loan.”

While other major institutions like MetLife, Wells Fargo and Genworth remain, other big banks like Chase have stayed on the sideline, posing potential problems for the industry long term.

“If we remain perceived as a niche product, that has a lot of negative implications,” says Lewis. “That is the most important thing about Bank of America leaving; it sends this message that we are still not mainstream.”

Bridging the Gap

Data from the latest American Housing Survey shows that on a national level, roughly 5.2 million senior households have a forward mortgage or a combination of forward and HELOC/Home Equity Loan.

“Thats about 10 times the number that have a reverse mortgage today, and that total group of under 6 million households is really all the industry has targeted thus far,” says Lunde.

“HECM Saver is the first baby step to get there given that it only really changes cost structure in exchange for principal limit, while still depending on a government-backed securitization model,” he says. “Its the right first step and has the potential to address a sizeable portion of the households that HECM Standard hasnt.”

“We spend a tremendous amount of time figuring out how we take this industry from 100,000 to 500,000 units,” says Eric DeClercq, national retail leader at MetLife Bank. “Weve got multiple initiatives and theyre all HECM Saver- and purchase-based.”

Launched in October 2010, the HECM Saver provides borrowers with less in proceeds at a lower cost compared to the HECM Standard. With little upfront cost, the industry finally has the ability to compete with more traditional products like home equity lines of credit.

The latest data from HUD shows that 296 HECM Saver loans were endorsed in February, up 79.4% from the previous month. While the volume alone is nothing to write home about yet, the data is encouraging and shows there is a market for the product.

When asked how the industry grows beyond the current penetration levels, DeClerq needed no time to think about his response.

“The HECM Saver is the answer, it will never happen if we were selling the HECM Standard,” he says. “There always will be the Standards, but the HECM Saver is the future.”

HECM Saver the Future

If the HECM Saver is the future of the industry as some claim, the reality is that few are having success with the product. Recent data from HUD shows that Wells Fargo and MetLife controlled almost 70% of the HECM Saver market two months after its release. Other lenders are doing one Saver here and there, but there is either a lack of desire to move into a new market or challenges they face reaching a new group of borrowers.

For the industry to break out from this plateau, it must go outside of its comfort zone. Instead of seeing the Saver as a tool that cant help their customers, lenders need to see it as a way to reach an even larger segment of the population.

But more importantly, the industry faces challenges in the coming months to address public perceptions issues as major institutions have left the industry. The longer others stay on the sidelines and do not offer the product to their customers, the bigger problems the industry faces.

When discussing the Bank of America exit, Lewis rhetorically asked that if a senior comes into a bank branch and takes out a HELOC, does the institution have an obligation to present a HECM as an option? “I think they do,” he says.

The question outlines the challenge the industry faces in terms of breaking through the 2% penetration level it has been stuck at over recent years. Whether the HECM Saver is the product that catapults the product into the mainstream isn’t clear, but several lender are betting big on the product and the industry’s future because of it.

“[HECM Saver] is the answer to migrating our business into the retirement income planning and as a retirement option for older Americans, says DeClerq. “The HECM Saver is the product that is going to get us there.”

Want more long-form reporting from RMD? Sign up for our daily email list for access to in-depth reporting and exclusive news before it hits the website.

This edition of RMD Report is brought to you by Landmark, a leading national appraisal management and compliance company serving the reverse mortgage lending industry.

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Brazil Raises Rate to 12%, Slows Pace on Real, Credit Curbs
April 20, 2011, 7:44 PM EDT

More From Businessweek

• Brazil Signals More Interest Rate Increases at a ‘Softer’ Pace
• Brazil Plans Further Measures to Curb Strength of Real
• Peru’s Top Pension Fund Buying Stocks After Election Slump
• Brazil’s CPI Rises at the Fastest Pace Since November 2008
• Best BRIC Stock Rally Since 1997 Seen Doomed as Rates Rise

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By Andre Soliani and Matthew Bristow

(Updates with board’s vote in second paragraph, board statement in fourth paragraph.)

April 20 (Bloomberg) — Brazil’s central bank slowed the pace of rate increases on a less-than-unanimous vote, saying they need to implement policy adjustments “for a sufficiently long period” to bring inflation to target next year.

Policy makers, led by central bank President Alexandre Tombini, voted 5-2 to raise the Selic rate by a quarter point to 12 percent from 11.75 percent, as expected by 15 of 58 analysts surveyed by Bloomberg. Forty-one analysts forecast a half-point increase and two predicted a pause. The bank said that two board members voted for a half-point increase.

The rate rise was smaller than the 0.5 percentage-point increases the bank implemented at its January and March meetings. Policy makers are betting that a combination of higher borrowing costs, curbs on consumer lending and government spending cuts will be enough to bring inflation back to its target in 2012, according to the central bank’s quarterly inflation report, published March 30.

Because of the “balance of inflation risks” and “uncertain moderation of domestic activity,” policy makers said in their statement that they see “the implementation of adjustment in monetary conditions for a sufficiently long period is the most adequate strategy to guarantee the convergence of inflation to the target in 2012,” according to their statement that accompanied their decision.

The 6.4 percent appreciation of Brazil’s currency against the dollar in the past month may have been decisive in persuading policy makers to increase borrowing costs by 25 basis points rather than 50, said Gustavo Rangel, chief Brazil economist for ING Financial Markets in New York.

“The central bank has a better outlook for inflation than the market does,” Rangel said, speaking by telephone before the rate decision. “It’s clear to everyone that foreign exchange is a big thing here. That clearly adds to that more benign assessment of inflation.”

Consumer prices rose 6.44 percent in the year through mid- April, close to the upper limit of the central bank’s target range of 4.5 percent, plus or minus 2 percentage points.

Inflation Survey

Economists surveyed by the central bank expect consumer prices to rise 6.29 percent this year, and 5 percent in 2012, according to an April 15 survey. The central bank itself expects consumer prices to rise 5.6 percent this year, and 4.6 percent in 2012, according to its so-called reference scenario, which assumes an interest rate of 11.75 percent.

The central bank is betting that much of the quickening of inflation this year will fade as a supply shock caused by higher commodities prices recedes, said Pedro Tuesta, an economist for Latin America at 4Cast Inc.

“They feel that they don’t need to rush to bring inflation down, they can wait until 2012,” Tuesta said, speaking by telephone from Washington before the rate decision was announced. “They feel the macro-prudential measures will do the job. They feel they don’t need to hike that much.”

Food and beverage prices rose 2.15 percent in the first three months of 2011, after increasing 10.4 percent in 2010, according to data collected by the central bank.

Tuesta forecasts inflation of 6.3 percent this year, and 5.2 percent in 2012.

Not Tolerant

Finance Minister Guido Mantega said April 18 that Brazil is neither “patient” with nor “tolerant” of faster inflation, and that the measures already taken will be effective after a lag.

President Dilma Rousseff’s government cut 50.7 billion reais ($32.4 billion) from its 2011 budget, to help curb inflationary pressure. In December, the central bank raised banks’ reserve requirements to slow credit growth, and this month the Finance Ministry doubled to 3 percent the so-called IOF tax on consumer credit.

Total outstanding credit in Brazil’s economy rose 21 percent from a year earlier in February, to 1.74 trillion reais. Tombini told lawmakers March 22 that growth in consumer credit of more than 15 percent needs to be monitored “very carefully” to avoid “excessive risks.”

The central bank forecasts credit growth of 13 percent in 2011, Tulio Maciel, acting head of the bank’s economic research department, said March 29.

Retail Sales

Retail sales unexpectedly fell 0.4 percent in February, down from a revised 1.1 percent increase in January. Tombini said March 22 that the retail sector is “perhaps the best expression of the current state of the economy.”

The yield on interest rate futures maturing in May 2011 rose five basis points to 11.92 percent. The real gained 0.6 percent to 1.5662 per dollar, its strongest close since Aug. 4, 2008. The real’s gain in the last month is the third best among the 16-most traded currencies tracked by Bloomberg after the New Zealand and Australian dollars.

Chile’s central bank raised its benchmark interest rate for the 10th time in 11 months at its April 12 policy meeting. Peru’s central bank raised borrowing costs a quarter point to 4 percent in April, its ninth increase in 12 meetings. Colombia raised its benchmark interest rate by 0.25-point for a second straight month in March to 3.5 percent.

–Editors: Richard Jarvie, Robert Jameson

To contact the reporter on this story: Matthew Bristow in Brasilia at mbristow5@bloomberg.net

To contact the editor responsible for this story:

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A shift toward smaller health insurance networks

Thousands of employers in California and nationwide are opting for narrow network HMOs, which offer notable savings on insurance premiums but also offer fewer medical providers.

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Low interest rates and bad credit auto loans do not always go together but knowing what type of interest you are signing up for can save you money

Where to begin

Until fairly recently customers applying for auto loans for slow credit had few choices when it came to the way the interest rate was computed. We know, because at Auto Credit Express we’ve been working with customers with bad credit at the retail level for over twenty years.

During that time, we’ve personally helped hundreds of retail buyers get financed while helping them avoid a tote the note dealer (buyers outside our area can now fill out a bad credit car loan application on our web site) as well as advising them about bad credit car loans (so they don’t end up in repossession).

It’s also important for applicants to be aware of the fact that in some states there’s more than one way interest rates for auto loans for slow credit can be computed.

Simple

The simple interest loan is the most common type of car loan. With this type of loan, you are charged interest each day on the loan balance. This means that if you make your monthly payment early (for example, on the 2nd of the month instead of the 15th, when iis due), you’ll end up paying less interest, since the daily interest charge, based on the balance per day, will be lower.

In addition, if you decide to pay the loan off early, your interest payments, as well as the overall interest expenses, stop at that time the loan is repaid. The payoff price at that time would include the original price of the car plus the total of the daily interest charges to date, minus the payments made. In other words, there is no penalty if you pay your car off early.

Rule of 78s

The rule of 78′s method is not used as much as it once was and for good reason. With current finance disclosure laws, most people would not sign on the dotted line if the interest charges on their loan were computed using this method.

With rule of 78′s loans, the interest is computed using amortization tables. This determines the amount of interest charged over the loan term which includes an amortized portion of the interest with each payment. Typically this means ¾ of the interest charges are paid during the first ½ of the loan term. If you pay the loan off early, the lender will “rebate” part of the interest, but you’ll still end up paying more than with a simple interest loan.

Check your contract

Congress outlawed the use of “rule of 78′s” for all closed-end (fixed final payment date) loans over 61 months in length in 1992. The following states also outlawed these loans for 60 months and less: Arizona, Delaware, Idaho, Iowa, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nebraska, Nevada, New Hampshire, New York, Oregon, South Dakota and Vermont.

If you live in another state, you should know that most conventional lenders now offer only simple interest loans. However, some subprime lenders as well as many tote the note and buy here pay here lots still use the “rule of 78′s” to compute the interest for their auto loans for slow credit.

To avoid signing up for a rule of 78′s loan, be sure to read the finance contract thoroughly. If it has the words “refund” or “rebate of interest” or if the wording in the “prepayment” section states anything other than “no penalty”, it’s not a simple interest contract. You should stay away from this type of loan if at all possible.

As we see it

Auto Credit Express has helped thousands of people with bad credit buy cars and reestablish their car credit through a nationwide network of affiliate dealers that specialize in second chance auto loans.

So if you are serious about getting your credit back on track, you can begin the process right now by filling out our secure online bad credit auto loan application.

Tags: auto loans for slow credit, Bad Credit, bad credit auto loan, bad credit car loan, rule of 78s, simple interest

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* New super rich need private and investment banking

* Private banking becoming more elite

* Growing trend of investment bankers moving to wealth

By Chris Vellacott

LONDON, April 20 (Reuters) – Banks are sending some of their
best talent to work in private banking as clients get richer and
demand more, siphoning off recruits from a traditionally higher
paying and racy career in capital markets.

Many banks reporting first-quarter earnings in coming weeks
are prioritising expansion in wealth management because its
stable deposit base offsets more volatile business lines like
trading or investment banking.

But banks are also eyeing an emerging client group, namely
the international oligarchy of families that have amassed vast
wealth through control of global companies.

While these clients will want personal services for the
super rich like premium credit cards or mortgages on
superyachts, as owners of huge business empires they are also
heavy users of investment banking.

Where once private banking was seen as a genteel arm of the
industry, dealing in inherited wealth, it now needs higher
calibre staff with investment banking expertise, bankers say.

One of the results of the boom in emerging markets and
commodities has been a huge rise in the number of owner-occupied
firms that have become global businesses, Des Byrne, managing
director at Barclays Wealths (BARC.L) UK and Ireland arm, said.

Thats given rise to this ultra need that many of the
banks are targeting … — the application of investment banking
style products and services to individuals, to human beings as
opposed to the board or management teams of companies, he said.

Prominent examples of people associated with dominant global
companies include Mexican telecoms billionaire Carlos Slim,
steel tycoon Lakshmi Mittal or Russian magnates like Oleg
Deripaska.

Reflecting this blend of private and corporate banking,
British bank Coutts has set up a division aimed at turning
corporate shipping clients of its parent Royal Bank of Scotland
(RBS.L), many of which are owned by Greek families, into private
bank customers. [ID:nLDE6B50NW]

Citis (C.N) private banking arm reshaped itself after the
financial crisis to sit within the groups institutional
business, focusing on clients rich enough to own big companies
needing regular access to global capital markets.

Recruiters and bankers say the entry requirements for
private banking are far higher than they were a decade ago.

And a once unimaginable phenomenon — investment bankers
opting to become private bankers — is gathering pace.

The top ranks of many international private banks are
already well populated by people who cut their teeth in
investment banking.

Byrne joined Barclays private banking arm in 2008 from
Barclays Capital. His boss Thomas Kalaris, chief executive of
Barclays Wealth also came from an investment banking background.

Other notable examples include Rory Tapner, head of RBSs
wealth management arm and a one time joint global head of
investment banking at UBS (UBSN.VX).

Stephen Russell, chief of staff at UBSs wealth management
arm in the UK, says the few private banking jobs on offer in his
business are routinely inundated with applicants.

In the context of this year, weve made eight hires and
interviewed about 140 people … The challenge for us is
getting a fit with what we and our clients expect from people
and what exists in the market, he said.

Investment banking remains potentially more lucrative,
paying up to 40 percent more in total compensation according to
Sophie De Ferranti, head of private wealth management at
ValensGoldberg, a headhunter based in London.

But private banking pay is less volatile, Byrne says, and
attracts many former capital markets staff looking for an escape
from the increasingly technical and narrowly focused word of
investment banking.

Its not an easy option, Its a different lifestyle, he
said.

(Editing by Sinead Cruise and Mark Potter)

(For the Funds Hub blog: blogs.reuters.com/hedgehub)
(For Global Investing: here)

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Banking regulator to launch mortgage stress testing

• Source: Global Times
• [04:08 April 21 2011]
• Comments

By Zhao Qian

The countrys banking regulator will launch a new round of stress tests for property loans to minimize the financial risks, while a senior researcher at a government think tank said on Wednesday that further credit tightening policies may be needed.

The China Banking Regulatory Commission said in a statement on its website late Tuesday that banks should start stress tests on lending in the property market, citing a speech by commission chairman, Liu Mingkang.

Banks should strictly control financial risks, both in mortgage loans for homebuyers and in lending to developers, the China Banking Regulatory Commission statement said.

No more details about the test procedure were released.

In the middle of last year, the commission twice ordered banks to carry out stress tests on property lending. The results of these tests found that banks could sustain a drop in house prices of up to 30 percent.

There are signs that there is still a risk of a property bubble, and further credit tightening policies may be the most effective measure to cool down the over-heated market, judging by the current excess in liquidity, said Wang Jun, deputy director of the research department with the China Center for International Economic Exchanges, a government think tank, on Wednesday.

Some policies, like limiting home purchases for homeowners of multiple properties, is a short-term strategy since money being squeezed out of the property market can enter into other areas like commodities, thus adding to the countrys inflationary pressure, Wang said.

Minimum down payments for multiple home purchases could be higher, for instance, Wang added.

In January the State Council raised the minimum down payment requirement for second-home purchases to 60 percent from 50 percent.

The central bank revealed that new yuan loans in the first quarter totaled 2.24 trillion ($343 billion) yuan, down 352.4 billion yuan from the previous quarter, but no data about property loans was disclosed.

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The Federal Housing Administration wants to stay flush. One step its taking is increasing its annual mortgage insurance premium by 25 basis points on 30-year and 15-year mortgages. The change takes effect April 18.

The move was announced in February in the Department of Housing and Urban Developments Mortgage Letter 11-10, which stated that the move will ensure that FHA will continue its historic role of providing a home financing vehicle during periods of economic volatility and its mission of helping underserved borrowers. The HUD letter also said FHA anticipates this increase will have minimal impact on borrowers but will significantly strengthen the capital position of FHAs Mutual Mortgage Insurance Fund. FHAs up-front mortgage insurance premium of 1 percent of the loan amount remains unchanged.

In the letter, HUD provided an example of the size of premium increases FHA borrowers could expect this spring: For borrowers who purchased a $163,000 home with 3.5 percent down, the FHA annual MIP monthly payment would increase $33.

This increase applies to all mortgages insured under FHAs Single Family Mortgage Insurance Programs, except the following:

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By Shira Ovide

EPS: $1.28.

Estimates had been at $1.16 a share, according to Thomson Reuters roundup of analysts

Revenue: $25.2 billion compared to the average of analysts estimates of $25.3 billion, according to Thomson Reuters.

The housing market continues to be a serious drain on the bank. In its news release, JP Morgan singled out about 26 cents a share in cumulative losses and charges related to mortgages and foreclosure-related matters. JP Morgan also took a $1.1 billion provision for future credit losses tied to its mortgage operations.

CEO Jamie Dimons statement said that the banks strong quarter in consumer-finance operations was more than offset by the extraordinarily high losses we still are bearing on mortgage-related issues.

As is becoming typical for the US banking giants, JP Morgans jump in profits from a year ago was largely driven by the bank setting aside less money to cover soured loans. In the first quarter, JP Morgan set aside $1.2 billion for possible loan losses, down by $5.8 billion from the prior years first quarter.

JP Morgans compensation and headcount increased, the bank said, but total non-interest expenses were flat as the company held down other costs.

Shares of JP Morgan are moving about 1% higher in pre-market trading. Remember that bank stocks have been relatively lackluster since last month, when investors were briefly excited by a wave of dividend announcements and other stock holder givebacks announced by financial institutions.

Theres an earnings conference call at 9 am ET with Jamie Dimon amp; Co. Catch the Webcast HERE.

Check back to Deal Journal for more coverage throughout the morning.

(This post has been corrected. An earlier version included a non-GAAP revenue number.)

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By Alistair Barr, MarketWatch

SAN FRANCISCO (MarketWatch) — When the housing market was raging, servicing mortgages was a gold mine. But these days, handling delinquent home loans isn’t so profitable for J.P. Morgan Chase & Co. and other big players in the business.

J.P. Morgan

/quotes/comstock/13*!jpm/quotes/nls/jpm JPM
+1.57%

 wrote down the value of its mortgage-servicing business by $1.1 billion Wednesday, leaving its retail financial-services unit with an unexpected first-quarter loss.
Read more about the megabank’s earnings results.

The move suggests mortgage servicing won’t be as attractive as it used to be — and that’s bad news for other big banks in the business such as Wells Fargo & Co.

/quotes/comstock/11i!wfrc WFRC
0.00%

J.P. Morgan earnings top forecasts

The nation's second-biggest bank by assets reports a solid first quarter in its investment bank and marked improvement in credit quality, driving a 67% jump in profit.

J.P. Morgan’s write-down was driven by expectations that the business of servicing mortgages will get more expensive, partly because of new requirements imposed Wednesday by the Federal Reserve and the Office of the Comptroller of the Currency, Doug Braunstein, chief financial officer of the bank, said during a conference call with analysts.
Read about the new regulatory requirements.

Shares of J.P. Morgan slipped 1.6% at $45.91 in afternoon trading Wednesday, despite the bank’s first-quarter results topping analysts’ expectations.

Wells Fargo stock fell 1.8% at $30.85, while Bank of America Corp.

/quotes/comstock/13*!bac/quotes/nls/bac BAC
-0.64%

 and Citigroup Inc.

/quotes/comstock/13*!c/quotes/nls/c C
+2.49%

 declined more than 1%.

J.P. Morgan’s $1.1 billion write-down suggests mortgage-servicing rights, or MSRs, will be worth a lot less than then used to be, according to Christopher Whalen of bank-industry research firm IRA Advisory Service.

“All MSRs are going away,” Whalen wrote in an email to MarketWatch. “Expenses are up and accounting treatment is increasingly hostile.”

That wasn’t always the case.

Steady profits

Home-loan servicers collect loan payments and send the money to investors in mortgage-backed securities. This generated steady profits, while giving the owners of these businesses a useful window into the market.

Goldman Sachs Group Inc.

/quotes/comstock/13*!gs/quotes/nls/gs GS
-1.25%

 bought Litton Loan Servicing in 2007 to generate revenue from servicing mortgage portfolios bought by the investment bank.

In about 2006, Och-Ziff Capital Management

/quotes/comstock/13*!ozm/quotes/nls/ozm OZM
-0.32%

, one of the largest hedge-fund firms, bought a controlling interest in a subprime mortgage-servicing company called Residential Credit Solutions.

The deal gave the firm better insight into the mortgage market. By 2008, when the housing market was crumbling, Och-Ziff bought mortgages through RCS. The strategy was a pure play on the equity of the servicing firm.
Read more about Och-Ziff’s effort in residential mortgages.

MetLife Inc.

/quotes/comstock/13*!met/quotes/nls/met MET
-0.21%

, one of the largest U.S. insurers, owns a mortgage-servicing business through its MetLife Home Loans unit.

Downside

The downside of mortgage servicing, however, is that companies also have to work with troubled borrowers on behalf of investors in mortgage-backed securities.

When house prices slumped and mortgage defaults surged, these businesses were in a tight spot.

Servicers are obligated to maximize the value of mortgage securities for the investors. Any restructuring that dented the value of these securities would put servicers in legal hot water.

Regulators and politicians wanted lenders to restructure mortgages to help struggling homeowners, but servicers are obligated to maximize the value of mortgage securities for the investors. Any restructuring that dented the value of these securities would put servicers in legal hot water.

Then there’s the extra cost of dealing with so many troubled home loans. Calling borrowers to offer complicated restructuring and ushering mortgages and properties through drawn-out foreclosures requires a lot more staff.

Last year, efforts to streamline foreclosures resulted in the “robo-signing” controversy. That, in turn, forced regulators to take a hard look at the way mortgage-servicers do business.
Read more about how robo-signing spread across the banking industry.

Goldman is now exploring strategic options for Litton, including a possible sale. The firm bought the business for $428 million plus $916 million in debt payments that Litton had outstanding at the time, according to The Wall Street Journal.

/quotes/comstock/13*!jpm/quotes/nls/jpm

Add JPM to portfolio

JPM

JPMorgan Chase & Co

$
44.65

+0.69
+1.57%

Volume: 26.72M
April 19, 2011 4:00p

/quotes/comstock/11i!wfrc

Add WFRC to portfolio

WFRC

Wareforce.com Inc

$
0.00

0.00
0.00%

Volume:
July 12, 2010 12:00a

/quotes/comstock/13*!bac/quotes/nls/bac

Add BAC to portfolio

BAC

Bank of America Corp

$
12.34

-0.08
-0.64%

Volume: 182.64M
April 19, 2011 4:00p

/quotes/comstock/13*!c/quotes/nls/c

Add C to portfolio

C

Citigroup Inc

$
4.53

+0.11
+2.49%

Volume: 542.83M
April 19, 2011 4:00p

/quotes/comstock/13*!gs/quotes/nls/gs

Add GS to portfolio

GS

Goldman Sachs Group Inc

$
151.86

-1.92
-1.25%

Volume: 13.47M
April 19, 2011 4:00p

/quotes/comstock/13*!ozm/quotes/nls/ozm

Add OZM to portfolio

OZM

Och Ziff Capital Management Group LLC

$
15.80

-0.05
-0.32%

Volume: 213,383
April 19, 2011 4:02p

/quotes/comstock/13*!met/quotes/nls/met

Add MET to portfolio

MET

MetLife Inc

$
43.28

-0.09
-0.21%

Volume: 6.96M
April 19, 2011 4:01p

Alistair Barr is a reporter for MarketWatch in San Francisco.

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