Items Tagged with 'Wells Fargo'

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  • Homebuilder confidence increases slightly in October

    Declining material costs and strong economy contribute to gain
    Homebuilder confidence rose one point to 68 in October, according to the National Association of Home Builders/Wells Fargo Housing Market Index. "Builders are motivated by solid housing demand, fueled by a growing economy and a generational low for unemployment," NAHB Chairman Randy Noel said.
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  • Wells Fargo protestors disrupt MBA Annual 2018

    Group shouts "Where's Wells Fargo? Show your face!"
    A relatively quiet day at the Mortgage Bankers Association's annual convention was disrupted by dozens of Wells Fargo protestors for nearly 10 minutes on late Monday afternoon. The protestors were shouting chants accusing the bank of predatory lending practices, chanting "Where's Wells Fargo? Show your face!" and calling the bank "thieves."
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  • Wells Fargo to begin buying eNotes

    Digital mortgage revolution takes big step forward
    Wells Fargo, which began accepting digital mortgage applications earlier this year, is about to take an even bigger step into digital mortgages, as the megabank announced Monday morning that it is going to begin buying eNotes (electronic promissory notes). To facilitate this expansion of its mortgage business, Wells Fargo is partnering with eOriginal, a digital solution provider for the mortgage industry and a HousingWire Magazine Tech100 winner in 2018.
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  • Wells Fargo mortgage originations tumble amid rising interest rates

    Mortgage banking income on the rise, despite declining originations
    As interest rates have risen over the last several months, mortgage originations appear to be trending down, especially in the refinance space. Wells Fargo reported Friday that it originated $46 billion in mortgages in the third quarter, which is down 22% from last year’s total of $59 billion during the same time period.
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  • Wells Fargo is back in the mortgage securitization business

    Prepares to issue first securitization since the housing crisis
    Once an absolute giant in the mortgage securitization space, Wells Fargo has been noticeably absent from the list of issuers since the housing crisis, but that’s all about to change. The lender is preparing to issue its first mortgage-backed securitization since the meltdown, and unlike its past securitizations, this one is backed by the highest of high-quality loans.
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  • Flagstar appoints new SVP of its retail mortgage business

    Scott Bristol will also serve as national production manager
    Flagstar Bank announced Wednesday that Scott Bristol has joined the company as senior vice president and national production manager of its retail mortgage business. In this new position, Bristol will optimize Flagstar's platform to support its loan officers in their expanding business.
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  • Movement Mortgage appoints new regional director

    Yong Choi will serve the Southern California region
    Movement Mortgage has brought on Yong Choi to lead the company’s growth efforts in Southern California. As regional sales director, Choi will be responsible for mentoring originators in the Orange, Riverside, San Bernardino and San Diego counties.
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  • Bernie Sanders wants to break up the nation’s biggest banks (again)

    Sanders repeats campaign call to break up big banks
    Back when he was a presidential candidate, Sen. Bernie Sanders, I-VT, called for sweeping reforms to the nation’s financial system, including breaking up the big banks. And now, he's at it again. On Wednesday, Sanders announced that he is introducing the “Too Big to Fail, Too Big to Exist Act,” which would break up JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley.
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  • Top retail banking exec at Wells Fargo leaves bank

    Lisa Stevens is leaving the big bank later this month
    A top retail bank executive for Wells Fargo is packing her bags and leaving the big bank behind. According to the Wall Street Journal, Wells Fargo Western Region Regional Banking Executive Lisa Stevens is leaving Wells Fargo later this month for unknown reasons.
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