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Home | Tag Archives: Wells Fargo

Tag Archives: Wells Fargo

Builder Confidence Jumps in June

Builder Confidence Jumps in June

The National Association of Home Builders' (NAHB) Housing Market Index (HMI), released Monday in collaboration with Wells Fargo, registered 49 this month, up from 45 in May. A value below 50 indicates more builders view market conditions as "poor" rather than "good." Despite falling one point short of the benchmark, the moderate uptick in sentiment "is a welcome sign and shows some renewed confidence in the industry," said NAHB chairman Kevin Kelly.

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5 of 6 Banks Meet Mortgage Settlement Expectations

5 of 6 Banks Meet Mortgage Settlement Expectations

More than two years after the announcement of an historic settlement between 49 state attorneys general and some of the country's largest servicers, most are living up to compliance standards, a new report shows. According to examination results released by the Office of Mortgage Settlement Oversight, five of the six banks met or exceeded expectations across 29 different compliance metrics in the third and fourth quarters of 2013.

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First Quarter Housing Affordability Edges Higher

First Quarter Housing Affordability Edges Higher

A decrease in median home prices coupled with steady mortgage rates helped contribute to higher housing affordability in the first quarter of 2014, according to the National Association of Home Builders (NAHB). NAHB, coupled with Wells Fargo, recently published their Housing Opportunity Index (HOI), which found 65.5 percent of new and existing homes sold between January through March were affordable to families.

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California Foreclosure Starts Approach 8-Year Low

California Foreclosure Starts Approach 8-Year Low

For three straight quarters, California foreclosure starts remain little changed, hovering at a level last seen in early 2006. According to a market study released by DataQuick, steady economic growth and higher home values are responsible for the steady pace of new foreclosures.

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Wells Fargo, JPMorgan Report Shrinking Mortgage Activity

Wells Fargo, JPMorgan Report Shrinking Mortgage Activity

Two quarterly earnings reports revealed very different results for two major players in the mortgage industry. Wells Fargo and JPMorgan Chase both felt the sting of a shrinking mortgage market, but one bank revealed substantial growth. Wells Fargo reported a record net income of $5.9 billion for the first quarter, an increase of 14 percent from the year-ago quarter and 5 percent from Q4 2013.

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Banks Complete Consumer Relief Obligations

Banks Complete Consumer Relief Obligations

Joseph A. Smith, Jr., monitor of the National Mortgage Settlement, filed final crediting reports with the U.S. District Court for the District of Columbia on Bank of America, Chase, Citibank, and Wells Fargo. The reports confirmed that banks have satisfied their consumer relief and refinancing obligations under the settlement, nearly a full year ahead of schedule.

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