Wells Fargo has finalized the sale of a $50 billion block of mortgage-servicing rights (MSR), a deal that is expected to close later this year, according to bank officials. One expert in the MSR sector, who […]
Wells Fargo and JP Morgan Chase, the country’s top depository lenders, saw mortgage production volume further decline in the first three months of 2023, signaling another tough quarter for the mortgage industry. Wells Fargo, the […]
The layoffs impacted some of the bank’s top performers – including bankers who exceeded $100 million in loan volumes last year, CNBC says. In an email, a Wells Fargo spokesperson tells FinTech Futures that the “displacements” are part of […]
Wells Fargo, the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I can’t provide any specifics but […]
Wells Fargo cut over a hundred jobs in its mortgage division this week following its decision to exit the correspondent channel and shrink its servicing portfolio. A Worker Adjustment and Retraining Notification (WARN) filed in Illinois […]
Market speculation that Wells Fargo is contemplating a huge bulk sale of mortgage servicing rights (MSRs) may well be a case of a rumor that is all hat and no cattle. Or it could signal a future […]
The post Wells Fargo Steps Back From Mortgage Market appeared first on Weekly Real Estate News.
Pennymac, the country’s largest correspondent lender with about 14% market share, has its eyes fixed on absorbing origination volume that Wells Fargo is leaving behind in the correspondent channel. The California-based lender plans to increase […]
The mortgage servicing rights (MSR) market has opened 2023 with a healthy volume of capital committed to purchasing the assets along with multiple sellers primed for deals — as evidenced by the $60 billion to […]
Source: CNBC — Wells Fargo is stepping back from the multitrillion-dollar market for U.S. mortgages amid regulatory pressure and the impact of higher interest rates. Instead of its previous goal of reaching as many Americans as […]
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