Lifting of the asset cap could give the bank greater leeway to originate jumbo mortgages that exceed Fannie Mae and Freddie Mac’s $806,500 conforming loan limit in most markets. Continue reading
A $1.95 trillion asset cap that’s limited the bank’s growth could be lifted in Q2 with CFPB and other regulators having closed 12 of 14 consent orders aimed at remedying past business practices. Continue reading
A $1.95 trillion asset cap that’s limited the bank’s growth could be lifted in Q2 with CFPB and other regulators having closed 12 of 14 consent orders aimed at remedying past business practices. Continue reading
Getting out from under $1.95 trillion cap would allow the bank to grow its deposit base, providing more room on the balance sheet to originate jumbo mortgages too big for Fannie and Freddie. Continue reading
Once the nation’s largest home lender, Wells Fargo could be poised for a comeback in the mortgage business this year as it continues to make progress in addressing regulators’ concerns about its past practices. Continue reading
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
Executives said to be concerned about reputational risk of correspondent lending channel, which has historically accounted for as much as half of the bank’s home loan business. Continue reading
Wells Fargo has agreed to pay a $250M fine after an investigation by federal banking regulators found fault with its practices for helping homeowners with mortgage problems. Continue reading