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Wells Fargo & Co. announced in the last week of February that it has made plans to reduce close to 700 jobs in its home and mortgage finance division in the next few weeks, as it anticipates demand for new housing slowing down further.
In an effort to strengthen lending programs under the Federal Housing Administration, officials announced this week with the release of the Obama Administration’s 2015 fiscal year budget plan that a new, proposed administrative fee will apply to all FHA lenders.
Deutsche Bank AG (DBK) sold the first securities backed by bonds tied to U.S. energy-saving projects in a deal that follows a federal agency’s objections to the underlying homeowner borrowing.
The Federal Reserve Board, the Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency jointly issued on Wednesday final guidance for supervisory expectations for stress tests undertaken by financial firms whose assets total between $10 billion and $50 billion.
Even though they stated in a news release two weeks ago that institutional investment was waning, RealtyTrac has released a report on its impact on the housing market.
On Feb. 28, 2014, we issued an updated research report on one of the major regional banks - Wells Fargo & Company. The company recently reported impressive fourth-quarter 2013 results with lower operating expenses and lower provision for credit losses, which were partially offset by a decline in revenue.
In a Feb. 19 speech before the nation’s largest association representing real estate finance, Steven Antonakes, Deputy Director of the Consumer Financial Protection Bureau (CFPB), updated the Bureau’s recent achievements before addressing how new mortgage servicing standards will be implemented.
In a mortgage investigation led by the federal government, it was found that Atlanta-based SunTrust Bank made alleged mistakes processing applications for loan modifications under the Home Affordable Modification Program.
A top executive at mortgage servicer Ocwen Financial Corp. went on the defensive in an interview this week about his firm’s growth strategies and relationships with companies that are coming under regulatory scrutiny.
New York state's banking regulator on Wednesday requested information from Nationstar Mortgage LLC about its portfolio and mortgage servicing practices, saying that it has received hundreds of complaints from consumers as Nationstar's business has seen explosive growth.
The Federal Housing Administration begins 2014, and going into the fiscal year 2015, on more solid financial footing, according to the latest projections from the White House, and it doesn’t believe it will need taxpayer subsidy to deal with losses from defaulted loans.
Home prices, including sales of distressed homes, increased nationally by 12 percent in the 12 months ended in January CoreLogic said today.
When the Federal Reserve talks about buying mortgage-backed securities, it’s referring to the To-Be-Announced (or TBA) market.
Following the first-ever Treasury draw required by the Federal Housing Administration this year, the agency says it is back on stable footing and does not anticipate requiring Treasury assistance in fiscal year 2015.
Nearly 783,000 homeowners whose mortgage rates were reduced under the government's Home Affordable Modification Program are going to see their rates increase over the next few years, which will likely lead some borrowers to re-default, a federal watchdog warned.
Bank of America and Wells Fargo Bank drew the most fire from Floridians who complained to financial regulators in 2013, according to a study by Miami-based bank analysis firm K.H. Thomas Associates.
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