Items Tagged with 'Wells Fargo'

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Homebuilders keep confident moving into 2017

But less confident than December
Builder confidence came down off December's high, the highest level for more than 10 years, but remains strong headed into 2017. According to the National Association of Home Builders, many builders are excited for the business conditions that the new administration will bring.
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KBW: What Wells Fargo, Chase 4th quarter results mean for the rest of the industry

A deeper dive at the big banks' mortgage banking earnings
While the fourth-quarter results for Wells Fargo and JPMorgan Chase were decidedly mixed, with JPMorgan significantly exceeding and Wells Fargo missing market expectations, there was one common denominator among the big banks’ earnings – lower earnings from mortgage banking. But what should the market make of those results?
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Wells Fargo to close more than 400 branches

Looks to cut $2 billion in costs
After a week of losses for Wells Fargo, the bank announced it will close down more than 400 branches in the next two years. These cost-saving measures could save the company $2 billion, but this isn’t the first time the bank will close branches and denies the move is connected to the fake accounts scandal.
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Wells Fargo misses earnings expectations, continues to clean up after accounts scandal

Wells Fargo CEO: “We have more work to do”
Wells Fargo missed fourth-quarter earnings expectations as it continues to clean up from its massive fake accounts scandal announced back in September 2016. As one of the first banks to report and a major indicator for how the rest of the industry will perform, Wells Fargo recorded a boost in mortgage originations thanks to a huge uptick in refinance volume from last year.
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New York unveils proposal to ban "bad actors" from working in financial services

Would empower NYDFS to boot individuals
The New York of Department of Financial Services could soon have the power to ban individuals from working in the financial services industry for “egregious conduct,” New York Gov. Andrew Cuomo announced Monday. In announcing the proposal, Cuomo cited the recent fake account scandal at Wells Fargo as the kind of action that could get a person banned from working in financial services under the new rule.
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Wells Fargo preparing new pay plan in wake of fake account scandal

Retail employee compensation no longer tied to sales
Last year, Wells Fargo said that it planned to change its employee compensation plan, de-emphasizing the sales goals that led to 5,000 of the bank’s former employees opened as many as 2 million credit card and bank accounts without authorization in order to get sales bonuses. When Wells Fargo made that announcement in September, the details on the changes were scarce, but a new report states that the bank is ready to roll out on its new comp plan, one without sales goals.
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Here are HousingWire's top 10 articles of 2016

Thanks to our loyal readers for making this another great year
The past year was record-breaking for HousingWire in just about every metric we have, and that’s all thanks to you, our loyal readers. You push us to do more, to do better, to reach higher, to dig deeper, to keep fighting, and we have no plans of stopping. So here, as we begin a new year, are HousingWire’s top 10 articles of 2016, as determined by our readers.
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