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Closure of mortgage business lowers Capital One 4Q profit

Closure of mortgage business lowers Capital One 4Q profit

This is a discussion on Closure of mortgage business lowers Capital One 4Q profit within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; 's fourth-quarter profit fell 42 percent, hurt by charges from shutting down its GreenPoint Mortgage business, the credit card company ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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01-23-2008, 10:48 PM

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Closure of mortgage business lowers Capital One 4Q profit

's fourth-quarter profit fell 42 percent, hurt by charges from shutting down its GreenPoint Mortgage business, the credit card company said Wednesday Capital One said its fourth-quarter profit totaled $226.6 million, or 60 cents per ...

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