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Has the mortgage market turned a corner?

Mortgage lending still below norms and signs point to...

Quicken Loans sues DOJ, HUD for “shake down”

Says agencies demanding unwarranted penalties, false public admissions
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Items Tagged with 'Wells Fargo'

ARTICLES

Wells Fargo breached national mortgage settlement

Judge finds bank did not properly evaluate homeowners
Trey Garrison
A federal judge has found that Wells Fargo breached a nationwide 2010 legal settlement involving adjustable-payment mortgages, finding that the bank did not properly judge and evaluate borrowers who applied for help to avoid foreclosures.
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Homebuilder confidence rises in April on spring weather

Navy Federal forecasts jump in housing starts for March
Trey Garrison
Builder confidence in the market for newly built, single-family homes in April rose significantly. Rose-tinted glasses, or a knowing confidence? We’ll see soon.
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Wells Fargo posts $5.8 billion in net income

Mortgage banking non-interest income rises to $1.5 billion
Ben Lane
Wells Fargo reported net income of $5.8 billion in the first quarter, a slight drop from $5.9 billion in the first quarter of 2014. While Wells Fargo’s net income did drop slightly year-over-year, the bank’s net income rose over the fourth quarter of 2014, when the bank reported net income of $5.7 billion.
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GE sells $23 billion in real estate assets

Blackstone and Wells Fargo agree to purchase
Brena Swanson
General Electric Capital Real Estate is exiting a significant portion of its commercial real estate platform, as Blackstone and Wells Fargo announced they are purchasing a total of $23 billion in assets.
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Twitter roundup of this week's top housing articles

CFPB heads up the list
Brena Swanson
The list of the most-read HousingWire stories for this week is filled with some of the normal names in the mix, like the CFPB. However, another big name joined the list this week — Yahoo. This time we deliver the top-five list via Twitter. Happy Friday, everyone!
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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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