Wells Fargo unveiled new corporate social responsibility goals that are intended to address global social, economic, and environmental challenges, including a multibillion-dollar mortgage pledge to minority and low-income communities.
Read More »Wells Fargo Settles for $1.2 Billion Over ‘Shoddy’ Mortgage Practices
The settlement stems from Wells Fargo’s participation in the Direct Endorsement Lender program, a federal program administered by the Federal Housing Administration. It is the largest recovery for loan origination violations in FHA history.
Read More »Homeownership Rate Below Peak Levels Across All Ages
Which age group's homeownership rate is the furthest from its peak 10 years ago?
Read More »Wells Fargo Facing Continued Investigation from DOJ
Federal and state regulators are still probing the bank even after Wells Fargo agreed to a $1.2 billion settlement earlier this month over underwriting practices on FHA-insured loans.
Read More »Wells Fargo Faces Challenges to Start 2016
So far this year, the bank has had to cut nearly 600 mortgage jobs and agreed to a $1.2 billion settlement with regulators over underwriting practices.
Read More »Wells Fargo Agrees to Pay a Steep Price for FHA-Insured Defaults
Regulators accused the bank of engaging in "reckless" underwriting practices on mortgage loans insured by the FHA.
Read More »Citigroup Posts Best Yearly Income Since 2006; Wells Fargo Holds Steady
While the approaching date of December 25, 2015, meant it was beginning to look a lot like Christmas for many, for Citigroup it was beginning to look like the pre-crisis year of 2006.
Read More »Bucking the Trend
Conventional wisdom says that keeping rehab costs at a minimum is the best was to recoup losses on vacant and abandoned properties. The conventional wisdom may be wrong. This special print feature originally appeared in the December 2015 issue of DS News magazine.
Read More »Wells Fargo Welcomes New President & COO
Wells Fargo & Company recently announced that Timothy J. Sloan will now serve as President and COO, reporting to Chairman and CEO John G. Stumpf. Sloan has been with Wells Fargo for 28 years, and since 2014, he has served at the head of Wholesale Banking—a role he will remain in. Prior to this position, he was Wells Fargo's CFO from 2011 to 2014.
Read More »Foreclosure Plaintiffs Win Against Wells Fargo
The court agreed with the borrowers that the 2013 foreclosure action by Wells Fargo is time-barred by the state’s five-year statute of limitations; however. . .
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