Tag Archives: Wells Fargo

A federal judge earlier this week dismissed a bid by Wells Fargo Bank and Citigroup's mortgage unit to have a lawsuit against them thrown out accusing the lenders of violating federal law by inaccurately reporting information about short sales to credit agencies, subsequently hurting consumers' chances of obtaining loans.

J.K. Huey of Wells Fargo was presented with the 2014 Five Star Lifetime Achievement Award at the Women in Housing Leadership Summit September 16 as part of the 11th Annual Five Star Conference and Expo.

While nearly seven in 10 Americans agree that now is a good time to become a homeowner, a large number remain reluctant due to their own misconceptions of the financing process, according to survey results. For example, Wells Fargo reported, 30 percent of respondents expressed belief that only people with high incomes can obtain a mortgage at this point, and 64 percent said they believe only those with a "very good"” credit score can buy a home right now.

The unemployment rate in Florida for July remained unchanged from the previous month at 6.2 percent despite losing 1,600 jobs from the payrolls, according to a report recently released by the Wells Fargo Securities Economics Group.

This week is one of four times a year that the world’s largest corporations report their earnings to their shareholders. It’s time to look back on the second quarter of 2014.

Wells Fargo reported strong financials for the second quarter, driven in part by an uptick in mortgage lending and ongoing improvements in credit quality.

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.

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.

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.

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.