Freddie Mac rebounds with $2.92b net income in Q1
Freddie Mac reported net income of $2.92 billion for the first quarter, an increase of $5.84 billion from a net loss of $2.92 billion in the fourth quarter and up $715 million from…
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Banks are working to woo new doctors into home mortgages
When Dr. William Ngo was shopping for his first home two years ago, he ran into a problem: He got rejected for a mortgage because he had about $250,000 in student debt and little…
Read more →Are you behind the curve in the tech revolution?
New American Funding CEO Rick Arvielo has a reputation in the mortgage business as a technology pioneer – and he’s also a big proponent of the industry embracing the tech…
Read more →Wells Fargo ordered to pay $97mn for Calif. labor law violations
Wells Fargo is on the hook for $97 million after a Los Angeles federal judge found that the bank committed violations of California’s labor laws, according to a Bloomberg report.…
Read more →Banking giant to fork over $4.9 billion to settle mortgage-bond probe
An international banking giant will fork over nearly $5 billion to settle a federal probe into its sale of mortgage-backed securities during the run-up to the 2008 financial…
Read more →Trump names nominee for Ginnie Mae president
by Francis Monfort17 May 2018 President Donald Trump intends to nominate Michael Bright to be the president of the Government National Mortgage Association (Ginnie Mae) under the…
Read more →Banking giant to slash 260 mortgage jobs
by Ryan Smith17 May 2018 One of the nation’s largest banks will be handing about 260 mortgage professionals their walking papers in July. U.S. Bank – the nation’s fifth-largest…
Read more →Wells Fargo investigation raises concerns about internal controls
Another week, another reason for Wells Fargo execs to reach for the antacid. In the latest in a series of scandals for the embattled bank, an internal investigation found that some…
Read more →Mortgages push increase in total household debt
by Francis Monfort22 May 2018 A $57 billion increases in mortgage balances drove the first-quarter increases in total household debt, according to the Quarterly Report on Household…
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