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Thrift Industry Posts First Yearly Profit Since 2006
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Thrift Industry Posts First Yearly Profit Since 2006
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Thrift Industry Posts First Yearly Profit Since 2006

March 2, 2011 (Jeff Alan)
mortgage-profits-ahead-image
The Office of Thrift Supervision (OTS) reports that the nation’s thrift industry posted its first profitable year since the beginning of the financial crisis in 2006. The industry showed profits in all four quarters of 2010 totaling $6.6 billion including a $1.75 profit in the fourth quarter which is 0.76 percent of average assets.

In 2009, the industry posted a loss of $34 million for the year and a profit of $442 million in the fourth quarter.

Overall the industry has had six consecutive quarters of profits.

“Although the thrift industry continues to face some headwinds, the first yearly profit since the onset of the financial crisis represents a welcome signal of how far we have come,” said OTS Acting Director John E. Bowman.

The report states that many challenges remain for the thrift industry because of the housing market downturn and high unemployment. Troubled assets and provisions for loan losses remain elevated and the number of problem thrifts has increased but captial remained solid in the fourth quarter of 2010.

The industry added $2.27 billion (0.98 percent of average assets) to loan loss provisions in the fourth quarter. Provisions measured 0.95 percent of average assets in the prior quarter and 1.70 percent in the fourth quarter one year earlier. The substantial additions to loan loss reserves have bolstered the industry’s reserve levels to at, or near, record levels.

Highlights of the report include:

  • At the end of the fourth quarter, 92.1 percent of the industry reported capital exceeding “well-capitalized” regulatory standards.  Only eight thrifts were less than adequately capitalized.
  • Profitability, as measured by return on average assets, was 0.71 percent in 2010, an improvement from breaking even in 2009.  In the fourth quarter of 2010, profitability was 0.76 percent, up from 0.72 percent in the previous quarter and 0.19 percent in the fourth quarter a year earlier. 
  • Troubled assets (noncurrent loans and repossessed assets) were 3.3 percent of assets at the end of the fourth quarter, down from 3.36 percent at the end of the previous quarter, but essentially unchanged from 3.29 percent one year earlier.
  • The number of problem thrifts – with composite examination ratings of 4 or 5 – rose to 58 at the end of the fourth quarter, from 53 at the end of the previous quarter and 43 at the end of 2009.
  • At the end of the fourth quarter, the OTS supervised 731 thrift institutions with assets of $931.7 billion, as well as 437 holding company enterprises with approximately $4.2 trillion in U.S. domiciled consolidated assets.

Tags: OTS, thrifts, housing downturn, unemployment, capital, loan loss, non-current loans, repossessed assets, thrift institutions

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
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March 2, 2011 (Jeff Alan)
mortgage-profits-ahead-image
The Office of Thrift Supervision (OTS) reports that the nation’s thrift industry posted its first profitable year since the beginning of the financial crisis in 2006. The industry showed profits in all four quarters of 2010 totaling $6.6 billion including a $1.75 profit in the fourth quarter which is 0.76 percent of average assets.

In 2009, the industry posted a loss of $34 million for the year and a profit of $442 million in the fourth quarter.

Overall the industry has had six consecutive quarters of profits.

“Although the thrift industry continues to face some headwinds, the first yearly profit since the onset of the financial crisis represents a welcome signal of how far we have come,” said OTS Acting Director John E. Bowman.

The report states that many challenges remain for the thrift industry because of the housing market downturn and high unemployment. Troubled assets and provisions for loan losses remain elevated and the number of problem thrifts has increased but captial remained solid in the fourth quarter of 2010.

The industry added $2.27 billion (0.98 percent of average assets) to loan loss provisions in the fourth quarter. Provisions measured 0.95 percent of average assets in the prior quarter and 1.70 percent in the fourth quarter one year earlier. The substantial additions to loan loss reserves have bolstered the industry’s reserve levels to at, or near, record levels.

Highlights of the report include:

  • At the end of the fourth quarter, 92.1 percent of the industry reported capital exceeding “well-capitalized” regulatory standards.  Only eight thrifts were less than adequately capitalized.
  • Profitability, as measured by return on average assets, was 0.71 percent in 2010, an improvement from breaking even in 2009.  In the fourth quarter of 2010, profitability was 0.76 percent, up from 0.72 percent in the previous quarter and 0.19 percent in the fourth quarter a year earlier. 
  • Troubled assets (noncurrent loans and repossessed assets) were 3.3 percent of assets at the end of the fourth quarter, down from 3.36 percent at the end of the previous quarter, but essentially unchanged from 3.29 percent one year earlier.
  • The number of problem thrifts – with composite examination ratings of 4 or 5 – rose to 58 at the end of the fourth quarter, from 53 at the end of the previous quarter and 43 at the end of 2009.
  • At the end of the fourth quarter, the OTS supervised 731 thrift institutions with assets of $931.7 billion, as well as 437 holding company enterprises with approximately $4.2 trillion in U.S. domiciled consolidated assets.

Tags: OTS, thrifts, housing downturn, unemployment, capital, loan loss, non-current loans, repossessed assets, thrift institutions

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 2, 2011 (Jeff Alan)
mortgage-profits-ahead-image
The Office of Thrift Supervision (OTS) reports that the nation’s thrift industry posted its first profitable year since the beginning of the financial crisis in 2006. The industry showed profits in all four quarters of 2010 totaling $6.6 billion including a $1.75 profit in the fourth quarter which is 0.76 percent of average assets.

In 2009, the industry posted a loss of $34 million for the year and a profit of $442 million in the fourth quarter.

Overall the industry has had six consecutive quarters of profits.

“Although the thrift industry continues to face some headwinds, the first yearly profit since the onset of the financial crisis represents a welcome signal of how far we have come,” said OTS Acting Director John E. Bowman.

The report states that many challenges remain for the thrift industry because of the housing market downturn and high unemployment. Troubled assets and provisions for loan losses remain elevated and the number of problem thrifts has increased but captial remained solid in the fourth quarter of 2010.

The industry added $2.27 billion (0.98 percent of average assets) to loan loss provisions in the fourth quarter. Provisions measured 0.95 percent of average assets in the prior quarter and 1.70 percent in the fourth quarter one year earlier. The substantial additions to loan loss reserves have bolstered the industry’s reserve levels to at, or near, record levels.

Highlights of the report include:

  • At the end of the fourth quarter, 92.1 percent of the industry reported capital exceeding “well-capitalized” regulatory standards.  Only eight thrifts were less than adequately capitalized.
  • Profitability, as measured by return on average assets, was 0.71 percent in 2010, an improvement from breaking even in 2009.  In the fourth quarter of 2010, profitability was 0.76 percent, up from 0.72 percent in the previous quarter and 0.19 percent in the fourth quarter a year earlier. 
  • Troubled assets (noncurrent loans and repossessed assets) were 3.3 percent of assets at the end of the fourth quarter, down from 3.36 percent at the end of the previous quarter, but essentially unchanged from 3.29 percent one year earlier.
  • The number of problem thrifts – with composite examination ratings of 4 or 5 – rose to 58 at the end of the fourth quarter, from 53 at the end of the previous quarter and 43 at the end of 2009.
  • At the end of the fourth quarter, the OTS supervised 731 thrift institutions with assets of $931.7 billion, as well as 437 holding company enterprises with approximately $4.2 trillion in U.S. domiciled consolidated assets.

Tags: OTS, thrifts, housing downturn, unemployment, capital, loan loss, non-current loans, repossessed assets, thrift institutions

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS