Flagstar Bancorp (FBC) Post Wide Q3 Loss

After the clsoe, Flagstar Bancorp (NYSE: FBC) reported Q3 EPS of ($0.61), which may note compare to the analyst estimate of $0.11.

Alessandro P. DiNello, president and chief executive officer, commented, "We remain intensely focused on improving the operations of the Bank. At the same time, we continue to improve our compliance and risk management, while also prudently managing expenses and continuing to grow in a measured fashion."

Mr. DiNello continued, "We took significant action during the quarter to reduce risk. First, we settled with the Consumer Financial Protection Bureau ("CFPB") for claims arising out of loss mitigation practices and default servicing operations dating back to 2011. We also recognized additional expense related to certain government insured loans. Adjusting for these items, we would have achieved a modest profit in a difficult mortgage market, reflecting our sustained commitment to both growing operations and controlling noninterest expenses."

For earnings history and earnings-related data on Flagstar Bancorp (FBC) click here.

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