Breaking News
  • Freddie Mac reports $354M net loss in first quarter

    Freddie Mac reported a $354 million net loss in the first quarter, significantly down from its $2.2 billion net income recorded in the fourth quarter of 2015. The news is a reminder of the GSE's net loss in the third quarter of 2015, which marked the first loss in four years. But despite the news, Freddie CEO Donald Layton remains positive on the results. Click the headline to find out why.

Items Tagged with 'Wells Fargo'

ARTICLES

The digital mortgage revolution is happening now. Are you ready?

The new normal for mortgages
How fast is the digital mortgage revolution happening? Before I could even finish a feature piece for HousingWire’s magazine on digital innovation, get it edited, published and put on the website, let alone delivered in the mail, Wells Fargo rolled out an entirely new, more simplified and streamlined mortgage app for cell phones. Today’s digital pace of change is faster than fast. Are you moving with it?
Read More
From HW Magazine

Digital disruption: How consumer demand is pushing lenders to a new normal

Do legacy lenders or tech startups have the advantage?
Saddled with legacy systems and burdened with changing regulations, the mortgage industry has been slow to adopt digitization compared to many other industries. Now, however, the industry must provide more transparency to regulators and satisfy consumers while managing tighter margins. In this perfect storm, there’s only one lifeboat — a digital process.
Read More

Wells Fargo pledges $220 billion for minority, low-income mortgages

Commitment part of 5-year 'corporate social responsibility' plan
Aiming to use its place as one of the nation’s largest banks to address "global social, economic, and environmental challenges," Wells Fargo announced an ambitious five-year plan that includes massive investments in diversity and social inclusion efforts, environmental causes, and billions of dollars for mortgages in "underserved" communities.
Read More

Five major banks fail bailout test, would need taxpayer money in crisis

Bank of America, JPMorgan Chase, Wells Fargo, others must improve 'living wills'
Five of the nation’s largest banks are not prepared for a financial crisis and would need taxpayer bailouts, the Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation announced Wednesday.
Read More

It’s official: Original NMS servicers pass final metric tests

BofA, Chase, Citi, Wells Fargo, Ditech now done
The original servicers of the National Mortgage Settlement finished the final metric tests, marking the completion of the NMS rules for the servicers. After lot of tests and oversight, these five banks undertook more than 630,000 transactions and provided borrowers with more than $50 billion in consumer relief.
Read More

Wells Fargo LIFT programs help more than 11,000 homeowners get down payments

Gives buyers education plus financial assistance
Since its start four years ago, the Wells Fargo and NeighborWorks America program have given down payment grants to more than 11,000 homeowners across 40 communities. The effort was created with the goal to accelerate local economic recovery in the aftermath of the housing crisis, boost sustainable homeownership and advance neighborhood revitalization.
Read More