Articles Tagged with ''Wells Fargo''

Wells Fargo Securities promotes Ari Kavour, Mike Llodra to lead mortgage finance group

Will head up warehouse and term financing efforts
Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo, announced Thursday that it promoted Ari Kavour and Mike Llodra to co-heads of the mortgage finance group. Wells Fargo Securities’ mortgage finance group provides warehouse and term financing to companies and investors that own, originate or invest in residential real estate mortgages or securities.
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Builder confidence slips for third consecutive month

But remains at strong level
Builder confidence dipped in March, falling for the third consecutive month, however it is still at a high level historically. The National Association of Home Builders cautioned builders are reporting challenges in finding buildable lots, which could limit their ability to meet demand.
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Wells Fargo board shakeup continues: Longest-serving directors set to retire

Four board members will retire next month
Four members of Wells Fargo’s board of directors, including its three longest-serving directors, will retire next month as the bank continues to clean up from its troubles of the last 18 months. On the way out are John Chen, Lloyd Dean, and Enrique Hernandez, each of which has served on the Wells Fargo board for at least 10 years, along with Federico Peña.
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Sacramento sues Wells Fargo over lending discrimination

Lawsuit accuses bank of targeting minority borrowers with high-cost loans
For the second time in less than a year, a major city is suing Wells Fargo for alleged discriminatory lending practices against minority borrowers. Last year, the city of Philadelphia sued Wells Fargo. Now, Sacramento is suing Wells Fargo as well for allegedly steering minority borrowers to high-cost loans.
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Wells Fargo hires former New York Fed exec to improve regulator relations

Sarah Dahlgren named head of regulatory relations
It’s probably safe to say that Wells Fargo has had a rough relationship with its various regulators over the past few years. Now, as part of an effort to improve its relationships with regulators, Wells Fargo is naming a new head of regulatory relations. Sarah Dahlgren, a long-time executive at the Federal Reserve Bank of New York will fill the role at Wells Fargo.
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Wells Fargo picks Michael DeVito to lead home lending efforts

Removes "interim" tag from DeVito, who took over after Franklin Codel was fired
Wells Fargo has found the next leader of its home lending efforts, naming one of its own as the permanent replacement for Franklin Codel, who was fired late last year for misconduct. After Codel was fired, the bank named Michael DeVito, who served as head of mortgage production, to serve as the interim head of home lending. Now, Wells Fargo is taking the "interim" tag off of DeVito's title.
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