Tag Archives: Wells Fargo

US Bank, UWM join movement to boost minority lending

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With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities. Continue reading →

Builder confidence rises as low inventory hikes new-home demand

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New homes now represent a third of all homes on the market. That’s 2.5 times higher than the historical average for the two decades leading up to COVID-19, according to the NAHB/Wells Fargo HMI. Continue reading →

Wells Fargo agrees to pay $1B to settle shareholder lawsuit

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Investors claimed they were misled about bank’s progress in fixing governance and oversight issues that came to light in wake of 2016 “fake accounts” scandal. Continue reading →

Builder confidence inches up as developers brace for lending anxiety

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Builder confidence rose 2 points in the latest National Association of Home Builders’ Housing Market Index, but economists fear lending challenges in the wake of bank failures this month. Continue reading →

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 →