US Bank

Wells Fargo vs. Bank of America: Advantage Wells

Comparing performance of Bank of America vs. Wells Fargo is interesting study, and is much more than an $8.8 billion loss compared to a $3.95 billion gain. Bank of America “trimmed roughly 151,000 loans from its portfolio of delinquent and discontinued mortgages in the second quarter through foreclosure or short sales. However, there are still

Bank Earnings Roundup

Lee Farkas, the former chairman of Taylor, Bean and Whitaker Mortgage Corp., was found guilty on all 14 charges stemming from a seven-year, multibillion-dollar fraud scheme that led to the collapse of his firm and Colonial Bank. Even the photo can make you cringe. At this point Mr. Farkas is probably not interested that Cantor

Rates Slightly Better on Bank Earnings, Housing Starts

Rates are generally even on today’s market news which includes bank earnings and some housing data, as follows: Wells Fargo’s earnings came out as expected at $3.2 billion (61 cents per share). Initial reads show that Wells’ loan growth was better than expected. Credit quality improved dramatically, allowing Wells to release some $850 million in

Rates Slightly Better on Bank Earnings, Housing Starts

Rates are generally even on today’s market news which includes bank earnings and some housing data, as follows: Wells Fargo’s earnings came out as expected at $3.2 billion (61 cents per share). Initial reads show that Wells’ loan growth was better than expected. Credit quality improved dramatically, allowing Wells to release some $850 million in

Latest On The Death of Mortgage Brokers

Mortgage brokers have always been quick to point out that rumors of their death are greatly exaggerated, but the stats on mortgages done by direct lenders vs. brokers suggest otherwise. National Mortgage News reports that: The wholesale/broker loan channel accounted for 11.6% of originations in 3Q, compared to 10.5% in the second quarter, a period

Wells Repurchasing of Bad Loans Falls, US Bank and other Earnings

Wells Fargo Bad Loan Repurchases Fell In 3Q Yesterday we learned that Wells Fargo’s repurchase obligations fell in the third quarter. Wells Fargo, who has not stopped foreclosure processes, reduced its reserve for repurchases to $1.3 billion from $1.4 billion in the second quarter, and outstanding buyback requests fell to $3.8 billion of loans from