With intense pressure stemming from falling oil prices, historically low interest rates, and volatile financial markets profits at San Francisco-based Wells Fargo did not come in strong for the first quarter of 2016.
Read More »Wells Fargo Settles for $1.2 Billion Over ‘Shoddy’ Mortgage Practices
The settlement stems from Wells Fargo’s participation in the Direct Endorsement Lender program, a federal program administered by the Federal Housing Administration. It is the largest recovery for loan origination violations in FHA history.
Read More »Homeownership Rate Below Peak Levels Across All Ages
Which age group's homeownership rate is the furthest from its peak 10 years ago?
Read More »Will Homebuilding Uptick Solve Supply Problems?
The rebound in homebuilding is expected to continue throughout the year, but will it solve persistent inventory issues?
Read More »DOJ Still Probing Wells Fargo After Billion-Dollar Settlement
The bank stated that it “has responded, and continues to respond, to requests from these agencies seeking information regarding the origination, underwriting and securitization of residential mortgages, including sub-prime mortgages.”
Read More »Wells Fargo to Settle With FHA Over ‘Reckless’ Mortgage Claims
Since 2012, Wells Fargo has been battling the U.S. government regarding allegations that it was "reckless" in certifying the credit and underwriting quality of FHA loans it originated, but the legal issues could soon be over.
Read More »Citigroup Posts Best Yearly Income Since 2006; Wells Fargo Holds Steady
While the approaching date of December 25, 2015, meant it was beginning to look a lot like Christmas for many, for Citigroup it was beginning to look like the pre-crisis year of 2006.
Read More »Wells Fargo Moves 350 Servicing Employees Out of Charlotte
The restructuring of mortgage servicing shops continues with Wells Fargo confirming Monday that the bank is moving approximately 350 home loan servicing members out of its offices in Charlotte, North Carolina.
Read More »Wells Fargo Promotes New Head of Home Lending Servicing
Wells Fargo & Company announced this week that the bank’s head of Home Lending Default, Perry Hilzendeger, has been named the new head of Home Lending Servicing.
Read More »Wells Fargo Slashes Almost 500 Mortgage Jobs
Wells Fargo recently announced that the company has cut nearly 500 mortgage employees for housing market-related changes.
Read More »