The MReport Webcast: Friday 1/22/2016

Bank of New York Mellon saw profits rise substantially in the fourth quarter of 2015 and for the year, despite a residential mortgage-backed securities lawsuit filed by the FDIC August 2015. BankUnited, who recently confirmed that it will discontinue retail mortgage originations as of January 15, 2015 due to a "lack of scale," still managed to have a profitable fourth quarter.

Although BNY Mellon's earnings fell quarter-to-quarter from 820 million dollars, or 74 cents per share in the third quarter of 2015 to 637 million dollars, or 57 cents per share in the fourth quarter, year-over-year earnings are way up from 209 million dollars, or 18 cents per diluted common share in the fourth quarter of 2014. For the 2015 year, BNY Mellon earned 3 point 1 billion dollars. The company reported net income of 56 point 3 million dollars, or 52 cents per share for the fourth quarter of 2015, compared to 46 point 8 million dollars, or 45 cents per share for the fourth quarter of 2014. For the 2015 year, BankUnited's net income totaled 251 point 7 million dollars.

Home prices in the U.S. housing market has seen some major gains over the last few years, but you will be surprised to know that much of this growth is stemming from homes that are priced 75 percent or less of the median home price. CoreLogic's MarketPulse Report found that out of four home price tiers, the low-end tier is leading home price gains, rising 8 point 2 percent year-over-year in November 2015 and 8 point 4 percent for the entire year. This tier has also recovered 48 point 8 percent since its all-time low in March 2009, and is the only segment to pass its pre-crisis peak.