Wells Fargo is no longer in love with the mortgage business. We all know that, but is the bank contemplating large-scale sales of its massive MSR portfolio? Not likely.
The Consumer Financial Protection Bureau wants nonbanks to submit information about terms and conditions they use in form contracts that might restrict consumer rights and protections.
Earnings season has arrived for the largest publicly traded depositories. Included in the results: home lending, where a brutal correction continues and depositories are rethinking their roles.
In a reissued bulletin, the mortgage giant said it will allow some duty-to-serve cash-out refinances to receive 0% credit fee caps because of the confusion caused by an earlier notice.
Plaintiffs hope that a pattern of illegal contract interference and the theft of trade secrets will justify RICO charges — and treble damages — against the Ohio lender.
Proposed updates to rules governing VA interest rate reduction refinance loans drew asks from VA lenders and trade groups around loosening eligibility requirements for borrowers to maintain access to the product. (Includes data chart.)
A Ginnie SVP allegedly leaked information regarding an agency issuer to a private-sector firm, breaking the rules. A referral was made to the DOJ, but nothing ever came of it. Details? There aren’t many.
Wells Fargo was a major player in the jumbo correspondent channel, with a nearly 20% market share. A handful of banks have a strong presence in this category, while nonbank competitors have faced hurdles.
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