"[Morggage] Repurchase losses were $667 million, compared with $255 million in the prior year and $432 million in the prior quarter."
Interesting trend, especially in comparison with:
"The provision for credit losses was $1.4 billion, compared with $3.1 billion in the prior year. The current-quarter provision reflected improved delinquency trends and reduced net charge-offs, while the prior-year provision included an addition to the allowance for loan losses of $930 million in the home equity and mortgage loan portfolios."
"The net loss in Home Loans and Insurance increased $808 million compared to the year-ago period. Revenue decreased 37 percent largely due to lower mortgage banking income. The year-over-year decline in mortgage banking income was driven by the $802 million increase in representations and warranties expense, ...."
Similar to JPM, the money is coming MBIA's way. Soon.