Wells Fargo providing $10K in down payment assistance in 8 metros
To qualify for grants being made through Wells Fargo's existing Special Purpose Credit Program, homebuyers can't earn more than 120% of the area median income
by Matt Carter Aug 10
Texas surged during COVID. Now, its luxury markets are being tested
Droves of people have flocked to Texas for new jobs, tax and affordability purposes, and political reasons, and demand from this new class of wealthy buyers is stretching luxury inventory thin
by Lillian Dickerson Jul 28
US Bank, UWM join movement to boost minority lending
With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities
by Matt Carter Jul 13
Builder confidence rises as low inventory hikes new-home demand
New homes now represent a third of all homes on the market, 2.5 times higher than the historical average for the 2 decades leading up to COVID-19, according to the NAHB/Wells Fargo HMI
by Taylor Anderson May 17
Wells Fargo agrees to pay $1B to settle shareholder lawsuit
Investors claimed they were misled about bank's progress in fixing governance and oversight issues that came to light in wake of 2016 'fake accounts' scandal
by Matt Carter May 17
Builder confidence inches up as developers brace for lending anxiety
Builder confidence rose 2 points in the latest National Association of Home Builders' Housing Market Index, but economists fear lending challenges in the wake of bank failures this month
by Ben Verde Mar 15
Wells Fargo lays off hundreds more, including some top producers
The bank says it has racked up $353M in severance expenses, primarily in mortgage, as it closes branches and pursues a 'more focused home lending business'
by Matt Carter Feb 24
Wells Fargo lays off 140 as it backs out of correspondent mortgages
In a Worker Adjustment and Retraining Notification, the company outlined its plans to reduce its workforce size. The company began executing the plan Tuesday in Springfield, Illinois
by Ben Verde Feb 2
Wells Fargo exiting correspondent mortgage lending business
Executives hope to reduce risk by reducing the size and narrowing the focus of bank's mortgage business to better serve retail customers and minority communities
by Matt Carter Jan 11
The biggest mortgage, lending and housing finance stories of 2022
The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to 'right size' and helped crown a new leader in mortgage lending
by Matt Carter Dec 28
Wells Fargo paying $3.7B to settle mortgage, auto loan allegations
Federal regulators allege bank improperly denied thousands of mortgage loan modifications over at least 7 years, in some cases leading customers to lose their homes
by Matt Carter Dec 20
It's official: 2022 shows homebuilder sentiment declines for every month
While December's data represented the 12th straight decrease in homebuilder sentiment, there is a 'silver lining.' The average price reduction was 8 percent, up from 5 or 6 percent, report says
by Ben Verde Dec 19
HomeZada wins Wells Fargo Innovation Challenge
The long-term home management app addressed three of its 'Multi-X Innovation' categories for the competition, including, Assets, Commerce and Care
by Craig C. Rowe Dec 7
Homebuilders suspect demand for new homes will fall even further
With sales already slipping off highs from earlier in the pandemic, a survey of builders released Tuesday by the National Association of Home Builders suggests the bleeding may have just begun
by Daniel Houston Oct 18
Builder confidence in the newly built single-family home market fell 3 more points in September, to a score of 46 on the Wells Fargo Housing Market Index, according to data released Monday
by Ben Verde Sep 19