Shaky housing market about to get even shakier

Shaky housing market about to get even shakier

When will we all stop kidding ourselves?

Yahoo launches feature-heavy mortgage calculator

Joins Google in developing native mortgage tool

Home eviction leads to grisly, tragic discovery

Police discover two children’s bodies in freezer
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Items Tagged with 'Wells Fargo'

ARTICLES

Wells Fargo cutting 1,000 mortgage servicing jobs

Will shutter Milwaukee office by July
Trey Garrison
The bad news? Wells Fargo is cutting about 1,000 mortgage servicing jobs. But the good news is that the job cuts mean there are fewer legacy and problem mortgages to service.
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Monday Morning Cup of Coffee: ‘Rehab recovery’ an opportunity for MBS investors

More voices join call for GSE recapitalization; Some not bad news for Ocwen
Trey Garrison
The opportunities for MBS investors are apparent in the economic fundamentals, and investors need to get used to the new normal.
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From HW Magazine

Big banks, big returns?

Some of the nation's largest financial institutions offer better deals at low risk
The real no-brainer, however, is to look at how the bank performed in the last downturn. Invest in one that not only didn’t need a bailout but one that didn’t take major risks for the sake of short-term versus long-term gains.
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Things at Ocwen just went from bad to much, much worse

Embattled company hit with an avalanche of bad news
Ben Lane
Just when it looked Ocwen Financial may finally be getting some good news, the nonbank was hit with an avalanche of bad news. A new report from Compass Point says that Ocwen was just terminated as servicer on two RMBS deals, and worst of all, Ocwen now stands accused of costing mortgage bond investors $26 billion.
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Danger ahead from lenders courting subprime borrowers?

One former lender says credit score not enough of a metric
Trey Garrison
With news that some lenders have ramped up loans to subprime borrowers, there may be some warning signs of a possible repeat of banking issues.
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Military members to receive $123 million for unlawful foreclosures

Relief is part of National Mortgage Settlement
Ben Lane
According to the U.S. Department of Justice, Bank of America, JPMorgan Chase, Citi, Wells Fargo and GMAC Mortgage will send payments to 952 service members and their co-borrowers for conducting non-judicial foreclosures conducted in violation of the Servicemembers Civil Relief Act.
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Wells Fargo ordered to pay $4 million for HELOC violations

NYDFS investigation shows falsified mortgage loan origination files
Ben Lane

Wells Fargo will pay a $4 million penalty after an investigation by the New York Department of Financial Services found that a former affiliate of the bank falsified mortgage loan origination files, made loans to customers that were secured by an interest in the borrower’s home, and committed other infractions in violation of New York State law.


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DC Judge: Mortgage Servicing Settlement does not require "absolute perfection"

New York AG’s claim on 97 of 450,000 mortgages ‘penny-ante’
Trey Garrison
In a withering opinion, U.S. District Judge Rosemary Collyer slapped down allegations from the New York attorney general that Wells Fargo violated the National Mortgage Settlement. Here's how it played out.
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CFPB goes after Wells Fargo, JPMorgan for mortgage kickback scheme

Mega banks will pay $35.7 million total
Brena Swanson
The Consumer Financial Protection Bureau has taken action on two of the country's biggest banks: Wells Fargo and JPMorgan Chase. Both banks were investigated for an illegal marketing services kickback scheme they participated in with Genuine Title.
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Mortgage business mixed at the Big Four banks in 4Q

A roundup of how the TBTFs fared in the mortgage space
Trey Garrison
The Big Four banks have reported their fourth quarter and full year earnings, and here’s a look at what happened in their mortgage space.
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