Where's the Hole In Bank of America's Balance Sheet?
Everybody knows Bank of America is swimming upstream in terms of profitability. Last year, the nation's second largest lender by assets earned $4.2 billion. Meanwhile, JPMorgan Chase and Wells Fargo reported net incomes of $21.3 billion and $18.9 billion, both of which were records for the respective companies. In the video below, Motley Fool contributor John Maxfield identifies one of the primary explanations for this disparity: mortgage-servicing rights related to toxic mortgages.
The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock it is in the brand-new free report: "The Motley Fool's Top Stock for 2013." Just click here to access the report and find out the name of this under-the-radar company.
The article Where's the Hole In Bank of America's Balance Sheet? originally appeared on Fool.com.John Maxfield owns shares of Bank of America. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.