Wells Fargo admits it wrongly foreclosed on over 500 homeowners



Wells Fargo has admitted that a calculation error led to it foreclosing on hundreds of homeowners that were actually eligible for assistance from the bank. In total, some 545 homeowners who were behind on their mortgages had their homes taken from them after requesting assistance with their late payments. Moreover, a total of 870 homeowners […]

Wells Fargo looks to boost African American home ownership



Wells Fargo & Company is hoping to propel a minimum of 250,000 African Americans towards home ownership within the next ten years with a brand new initiative.

Wells Fargo agrees to record-breaking $1.2bn FHA settlement



Wells Fargo set a new record when it agreed to pay the federal government $1.2 billion in settlement fees for the Federal Housing Administration.

Wells Fargo down payment assistance program helps 11,000 homeowners



NeighborWorks America has teamed up with Wells Fargo to offer residents of more than forty communities down payment grants via its newly created Neighborhood LIFT program.

Affordable Homes of South Texas gets $600K to further its mission



Community-based non-profit organization Affordable Homes of South Texas, Inc. (AHSTI) has been given a $600,000 cash injection from Wells Fargo & Company

Wells Fargo wins discrimination lawsuits in L.A. & Chicago



Wells Fargo & Co, the largest U.S. mortgage lender, on Friday won the dismissal of two major lawsuits accusing the banking giant of predatory lending practices.

Are Credit Score Requirements Too Strict?



Executives at FICO, the creator of a credit score widely used in the mortgage industry, say that the high credit score “cutoffs” that mortgage lenders imposed following the housing crisis are stricter than necessary.

Will the New Mortgage Rules Change the Real Estate Market



Bureaucracy may move slowly but it does move. Years after the collapse of the real estate market and another year after its recovery, the Consumer Financial Protection Bureau came out with new rules last week intended to protect consumers from the mortgage industry.

Small Lenders Making a Big Difference



According to Inside Mortgage Finance, smaller banks and nonbank lenders are now dominating the mortgage business. A study found that these previously nontraditional mortgage lenders make up about 60% of mortgages today compared to about 39% in 2009. Of course, this depends on how you define smaller banks and nonbank lenders. When considering those outside […]

Citibank, Wells Fargo Halt Foreclosure Sales Due To New Rules



Two of America’s biggest banks have announced a temporary halt to foreclosure sales in several US states. Citigroup and Wells fargo said that the move was a precautionary measure after federal regulators made changes to guidance on the minimum standards applied to foreclosure transactions in the affected states.

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