The Wells Fargo representative said servicing team members “have been informed that their work sites are being relocated from multiple locations in Charlotte to our Fort Mill servicing center early next year.”
Read More »Whistleblower Attempts to Revive RMBS Suit Against Wells Fargo
A former Wells Fargo subprime loan officer has asked the Second Circuit Court of Appeals to revive her suit against the bank, claiming that Wells Fargo engaged in a scheme to knowingly sell toxic mortgage-backed securities to investors to qualify for city and state tax exemptions.
Read More »Wells Fargo Settles With DOJ Over Bankruptcy Rules Violations
Wells Fargo Bank and the Department of Justice’s U.S. Trustee program have entered into a settlement agreement over the bank’s acknowledged violation of federal bankruptcy rules that took effect in December 2011, according to an announcement from the DOJ.
Read More »Wells Fargo Promotes New Head of Home Lending Servicing
As head of Home Lending Servicing, Hilzendeger will be responsible for leading more than 17,000 of the bank’s team members who service mortgage loans and home equity products for more than 10 million Wells Fargo customers, and mortgage loans for investors totaling more than $1 trillion.
Read More »Wells Fargo Cuts Nearly 500 Mortgage Jobs Due to Distressed Inventory Reduction
Wells Fargo told DS News that the reason behind the massive amount of job cuts was "the result of continuing market changes, including improvements in delinquency and foreclosure rates and reduced demand for mortgage financing."
Read More »Wells Fargo and Bank of America Post Positive Q3 Financial Reports
Wells Fargo and Bank of America posted strong 2015 third quarter financial results, with net incomes reaching $5.8 billion and $4.5 billion, respectively.
Read More »City of Oakland Lawsuit Accuses Wells Fargo of Reverse Redlining
The lawsuit alleges that Wells Fargo refused to refinance these high-cost loans to minorities on the same terms for which they refinanced loans to white borrowers, which resulted in a disproportionate number of foreclosures that subsequently led to abandoned properties and neighborhood blight
Read More »Circuit Court Revives Predatory Mortgage Lending Suits Against Three Large Banks
The lawsuit, originally introduced to a lower court by the City of Miami on December 13, 2011, alleged that each bank in question had participated in a decade-long pattern of discriminatory lending by targeting blacks and Hispanics for predatory loans.
Read More »Ocwen Enjoys Favorable Week With Wells Fargo Outcome
Thursday's outcome of the Wells Fargo vote stood in contrast to what happened in February, when Wells Fargo bondholders ousted Ocwen from two mortgage servicing deals after a downgrade of Ocwen's ratings.
Read More »Wells Fargo Head of Home Lending Mike Heid Announces Retirement
To ensure a smooth transition, Heid will remain in his current position with Wells Fargo until September 30 and will stay with the company until the end of the year.
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