Items Tagged with 'Wells Fargo & Co.'


  • Financial purge: Big bank stocks plunge

    Dramatic crash in oil prices to blame
    The DOW is not looking good as financial names took a big hit Thursday. Reeling off a 400-point loss, oil prices dropped below $27 a barrel for the second time in recent weeks. It settled at $26.21, the lowest point since 2003.
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  • Wells Fargo posts $5.8 billion in net income

    Mortgage banking non-interest income rises to $1.5 billion
    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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  • From HW Magazine

    Wells Fargo: time to head for the exits?

    The bank rode refis to new heights, but it's unclear where the next step will be
    Now is about the death of the mortgage refinancing business, a huge driver of Wells Fargo’s revenues in the post-crisis period; in fact, Wells Fargo had surpassed Bank of America to become America’s lender, funding more mortgage volume than any other large commercial bank in the country in 2012 and 2013. With the refi boom now over, what’s next?
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  • Fannie inks $591M settlement with Wells Fargo

    Deal resolves most legacy repurchase claims at the GSE
    As part of the deal, Fannie will receive $541 million in the fourth quarter of this year after adjusting the settlement based on prior repurchases. In addition, the deal releases Wells Fargo from repurchase obligations on toxic loans once sold off to the government-sponsored enterprise.
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  • HW 30 stocks plummet across the board

    Trulia is the big mover, falling more than 10%
    The HW 30 had a rough day Wednesday as housing and mortgage stocks reacted to Mel Watt's FHFA confirmation and data that showed younger Americans steering clear of the housing market for now.
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