Items Tagged with 'Wells Fargo'

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Wells Fargo officially reaches $1.2B settlement over its FHA lending

Resolves claims for the time period between 2001-2010
Wells Fargo finally wrapped up its settlement with the federal government to resolve claims related to its Federal Housing Administration lending program. The lawsuit was originally filed in 2012 but hit a roadblock back in November 2014 when both sides’ talks of negotiating a settlement started to slow down.
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From HW Magazine

Global reach: Exploring the risks and rewards of offshore mortgage servicing

Do perks outweigh the pitfalls?
Sometimes offshoring sounds like a bad word. In reality, offshore mortgage servicing simply means using remote staff, usually to take advantage of lower labor and overhead costs and round-the-clock staffing availability. But legitimate questions remain. In the midst of increasing compliance pressures, is offshoring a sound strategy for mortgage servicers looking to stay competitive, or a fast track to dissatisfied customers and trouble with the CFPB?
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Wells Fargo 4Q15 earnings fall in-line with expectations

Originations drop to $47B
Wells Fargo released its fourth-quarter earnings early Friday morning, giving investors a better pulse on the American economy. According to its report, the major bank met market expectations and posted a fourth-quarter net income of $5.7 billion, or $1.03 per share.
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Is HELOC demand about to skyrocket?

Homeowners look to tap available equity
Demand for Home Equity Lines of Credit started to surge last year. And given the future increases in mortgage interest rates, a new report from Black Knight predicts that demand is only going to grow.
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Wells Fargo Home Lending Default Servicing promotes new SVP

Carmen Bell fills position
Bringing 12 years of experience at the company, Wells Fargo promoted Carmen Bell to senior vice president of Wells Fargo Home Lending Default Servicing. In her new role, she will lead teams dedicated to helping customers prevent and resolve delinquencies, oversight of collections, single point-of-contact initiatives, underwriting, short sales and mediations.
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CoreLogic buys rest of RELS from Wells Fargo

Continues company’s expansion in property valuation
In what marks its third significant acquisition in the property valuation and appraisal space in the last six months, CoreLogic announced Tuesday that it plans to acquire total ownership of RELS, a provider of property valuation and appraisal services, from Wells Fargo.
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Bernie Sanders unveils foundation-shattering Wall Street reform plans

Vows to break up Wall Street’s biggest banks; sweeping reform of credit ratings agencies
It’s not exactly a stretch to say that Sen. Bernie Sanders is not the biggest fan of Wall Street. In a wide-ranging speech on Wall Street and the economy given Tuesday, Sanders detailed just how different life would be for the “too big to fail” banks under a Sanders administration. In fact, there would be no life for the “too big to fail” banks if Sanders is elected president, only death.
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