by Calculated Risk on 9/10/2008 12:40:00 PM
Wednesday, September 10, 2008
BofA: Builder Portfolio "Not Pretty"
BofA Presentation material is here.
Webcast here.
BofA just concluded a presentation. No story yet, but here are some headlines (hat tip Joshua and Brian):
BofA sees some softening on Commercial Asset Quality
Q3 to be "a little choppy" in capital markets.
BofA sees higher loss rates.
BofA's $13B home builder portfolio "not pretty"
BofA home builder losses grew faster than expected.
BofA see elevated credit costs, no "major pain"
BofA other commercial / industrial loans show weakness.