Card issuer Wells Fargo is losing as much as $10M a month as it eats interchange fees for users who are paying off balances after paying their rent, 'The Wall Street Journal' reports
Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the 2007 housing crash, new 0-down loans meet criteria set by mortgage giant Freddie Mac
Gwin, who previously held executive positions at Wachovia Bank and Wells Fargo, is credited with helping to develop some of the first compliance management systems in the mortgage industry
Fannie Mae and Freddie Mac are offering a $2,500 credit this spring that borrowers can put toward their down payment, closing costs, escrow or mortgage insurance premiums
Sixty-five employees are slated to lose jobs when the Atlanta-based lender, licensed in 48 states, ceases operations on March 29, the company confirmed in a WARN Act filing with Georgia officials
Available everywhere except New York, loanDepot's new 'accessZERO' program provides a down payment of up to 5% in the form of a 10-year fully amortized 2nd mortgage
Builder sentiment for newly built single-family homes slid five points to a score of 45, the second straight month of steep decreases
UWM and Rocket Mortgage are also leveraging Fannie Mae and Freddie Mac programs tailored to borrowers earning less than 80% of the area median income
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
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
With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities
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
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
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
The CFPB alleges mortgage servicers charged excessive late fees, assessed 'fake' private mortgage insurance premiums and made homeowners pay for unnecessary inspections