search

The Real Deal Logo

Trending

Housing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsHow Hochul played the “good cause eviction” game, and wonHow Hochul played the “good cause eviction” game, and wonTides Equities faces three foreclosures in Fort WorthTides Equities faces three foreclosures in Fort WorthLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
South Florida

BankUnited Financial struggles

Sign Up for the undefined Newsletter

The need to set money aside for bad loans pushed BankUnited Financial, the parent company of Coral Gables-based BankUnited, to a loss of $3.35 per share for the quarter that ended June 30, compared to a $23.2 million profit, or 62 cents per share, for the same quarter a year ago. The loss was worse than Wall Street estimates of 98 cents per share. The bank had to set aside $130 million for bad loans, and also announced a new plan to allow customers to convert hybrid adjustable-rate mortgages into more traditional home loans. It now has $309 million in reserve for future possible loan defaults.