Financial News for Home Buyers and Home Owners
It’s been an exciting week in finance! Citibank came out and said they want NO help from the government while other banks were flat-out told to raise assets (like GMAC’s need for $11.5 billion — billion!?). When there are banks failing the government’s “stress test” right and left, our clients are asking us: where do we turn for home loans?
In this week’s blog, we wanted to take a moment to highlight a few banks who are in stable financial condition according to the government’s stress test. This will give you and our clients some great resources for beginning your search for a home lender (whether refinancing or buying) or just a trusted place to save your hard-earned assets:
JP Morgan Chase – no need to raise more capital. If you’re a current Washington Mutual account holder, you likely know your bank is in transition to the Chase ownership. Current and new Chase customers can rest assured that your bank has passed a highly rigorous test for solvency and liquidity!
Capital One Finance Corp – no need to raise more capital. Many of us have credit cards issued by this banking behemoth. They’ve historically offered highly favorable rates to A-paper borrowers and been a leader in the market for those looking to rebuild credit. With virtually a zero-tolerance rule for late payments and defaults, it’s no wonder they’ve finished ahead of the crowd during the latest stress test.
Asset Managers Goldman Sachs, Bank of New York Mellon and State Street Corp all passed the stress test as well. If you’re looking to begin a long-term relationship with some anchors in the financial services realm, it may pay to interview these firms as safekeepers for family trusts, retirement assets, inheritances and more.
If you’d like to read more from MarketWatch on today’s stress test results, click here.
The Staff at San Juan Realty, Inc.
your trusted source for real estate in Montrose, Ouray, Ridgway and Telluride, Colorado!
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Tags: banks, financing, mortgage, ouray homes, ridgway homes, san juan realty inc., stress test, telluride homes
