Tag Archives: Wells Fargo

Wells Fargo lays off 140 as it backs out of correspondent mortgages

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In a Worker Adjustment and Retraining Notification, the company outlined its plans to reduce its workforce size. The company began executing the plan Tuesday in Springfield, Illinois. Continue reading →

Wells Fargo exiting correspondent mortgage lending business

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Executives hope to reduce risk by reducing the size and narrowing the focus of bank’s mortgage business to better serve retail customers and minority communities. Continue reading →

The biggest mortgage, lending and housing finance stories of 2022

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The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to “right size” and helped crown a new leader in mortgage lending. Continue reading →

Wells Fargo paying $3.7B to settle mortgage, auto loan allegations

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Federal regulators allege bank improperly denied thousands of mortgage loan modifications over at least seven years, in some cases leading customers to lose their homes. Continue reading →

It’s official: 2022 shows homebuilder sentiment declines for every month

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While December’s data represented the 12th straight decrease in homebuilder sentiment, there is a “silver lining.” The average price reduction was 8 percent, up from 5 or 6 percent earlier this year, report says. Continue reading →

HomeZada wins Wells Fargo Innovation Challenge

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Long-term home management app HomeZada, initially reviewed by Inman in 2015, beat out six other finalists in the Wells Fargo Innovation Challenge, according to a company announcement. Continue reading →

Homebuilders suspect demand for new homes will fall even further

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With sales already slipping off highs from earlier in the pandemic, a survey of builders released Tuesday by the National Association of Home Builders suggests the bleeding may have just begun. Continue reading →

Builder confidence drops to lowest level in 8 years as fall drop-off looms

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Builder confidence in the newly built single-family home market fell three more points in September, to a score of 46 on the Wells Fargo Housing Market Index, according to data released Monday. Continue reading →

Bank of America’s new ‘solution’ helps minorities own homes

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The new zero down, zero closing cost mortgage Community Affordable Loan Solution is part of a $15 billion commitment to help 60,000 individuals and families purchase homes by 2025. Continue reading →