Capital One could lose up to 1.1 billion dollars more in mortgage buyback claims!
NEW YORK - March 2, 2011 - Capital One Financial could lose an additional $1.1 billion on future mortgage buyback claims, the bank said in its annual filing with regulators Tuesday.
That estimate is "the upper end of the reasonably possible future losses from representation and warranty claims beyond the current accrual levels," Capital One said in the filing.
The bank also said it had seen "a recent uptick in negotiation intensity" from mortgage investors who had previously submitted repurchase claims relating to whole loans.