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Reported net income of $4.4 billion in the first quarter, down 15% from fourth quarter of 2022 and down 12% from first quarter of last year.
March numbers are strongest month-to-month growth since August 2021
March inflation reports were heavily impacted by the energy price spike caused by Russia’s invasion of Ukraine.
Home prices increased another 5% in the first quarter.
Board elects Wells Fargo exec Michael Heid to succeed Chairwoman Sheila Bair; President David Benson will serve as interim CEO.
Sale consists of approximately 7,600 loans with an unpaid principal balance of approximately $1.49 billion.
