Tag Archives: Wells Fargo

Wells Fargo is finally putting its past VA refinance issues behind it, agreeing to pay a hefty settlement to the Federal government today. Get the details of the bank’s settlement—and latest legal troubles—now.

Wells Fargo and Housing Opportunities Made Equal are partnering to increase the number of African-American homeowners in Virginia. Watch how they’re doing it here.

An industry veteran recently joined the ranks of the National Mortgage Servicing Association bringing expertise to help improve and sustain homeownership. Read on to see the details of the addition.

Wells Fargo, Citigroup, and JPMorgan Chase all reported their second quarter financial earnings on Friday before the market opened in the morning; but, despite reporting earnings and total ...

Lot and labor shortages are causing home builder confidence to falter—particularly in the single-family market. Builder confidence dropped two points in June, while overall construction starts fell 5.5 percent across the nation. Single-family production fell 3.9 percent in May, and multifamily declined 9.7 percent—nearly three times as much.

Wells Fargo Home Lending announced that Liz Bryant will now lead the company’s retail sales organization reporting to Head of Mortgage Production, Michael DeVito.

On Monday, the City of Philadelphia sued Wells Fargo & Co for predatory lending and violations of the Fair Housing Act. This suit comes just two weeks after the U.S. Supreme Court ruled that cities may sue lenders for alleged discrimination, according to Reuters. Two weeks before this case, the Supreme Court had ruled that Miami could sue Bank of America for predatory lending practices that allegedly increased segregation.

This week, the National Association of Homebuilders and Wells Fargo will release their latest Housing Market Index (HMI) for May, a measure of market conditions based on three factors, with a range of zero to 100. While the March HMI was unusually high, reaching 71, April stayed steady at 65. All three individual components (present single family sales, next six-month single family sales, and prospective buyer traffic) reported losses month over month, but were still strong.

According to an executive at Wells Fargo, the bank will begin issuing private-label bonds—the first time it's done so since 2008. Backed by non-government guaranteed mortgage loans, these bonds offer lower risk to banks and, therefore, lower interest rates for borrowers. JPMorgan and Redwood Trust have also begun issuing these types of bond as of late.

Housing affordability is finally starting to improve. According to a new index, affordability is up from Q4 of 2016. More than 60 percent of all homes sold in Q1 were affordable for the nation's median income of $68K.