Wells Fargo to Pay $3.7 Billion Civil Penalty According To CFPB

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In: Mortgage News

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Wells Fargo, the largest depository lender in the United States, has agreed to pay a $1.7 billion civil penalty to settle several consent orders related to auto loans, consumer savings accounts, and mortgages with the Consumer Financial Protection Bureau (CFPB).Continue Reading

JPMorgan Chase and Wells Fargo Reported A Significant Decline In Home Lending Revenues

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In: Realtor News

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JPMorgan Chase and Wells Fargo, the nation’s largest mortgage lender, reported third-quarter results on Friday. Both banks reported a significant decline in home loan income due to high-interest rates. Wells Fargo’s home loans in Q3 2022 totaled $21.5 billion, downContinue Reading

Mortgage Staff Layoffs Confirmed By Wells Fargo

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In: Mortgage News

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Wells Fargo affirmed Friday it’s laying off an undisclosed number of home loaning employees because of mortgage economic situations, multi-week after revealing a significant decrease in beginning volume. The bank in a short explanation didn’t indicate which employees were impactedContinue Reading

Incorrectly Denying Mortgage Modification Costs $12M to Wells Fargo

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In: Mortgage News

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Last updated on January 31st, 2022 at 09:49 amWells Fargo consented to pay $12 million to more than 1,800 home loan borrowers to determine a legal claim that supposed the bank’s customers had credit alterations improperly denied because of estimationContinue Reading

#Housingdc21 Ropes In Wells Fargo, Corelogic And Volly For Its Virtual Summit

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In: Realtor News

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Last updated on June 24th, 2021 at 04:25 pmFor a 100% virtual housing summit that will be held on September 20-21, 2021, three new sponsors having joined #HousingDC21, announced the President at Housing Finance Strategies -Faith Schwartz. He said thatContinue Reading

Wells Fargo Bank In Soup Because They Paused Customers Mortgage Payments Without Their Consent

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In: Mortgage News

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Last updated on August 3rd, 2022 at 09:21 amWells Fargo bank has paused their mortgage payments without their consent say about 1600 customers. According to a letter the bank had sent to two U.S. senators in August and September theContinue Reading