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Wells Fargo CEO Charlie Scharf hired Mike Weinbach in 2020 as part of a broader organizational shake-up. The former JPMorgan Chase executive is leaving in mid-September as the consumer lending group transitions to a new leader.

The outspoken former Trump administration official recently made headlines when he referred to the mortgage industry as a “ticking time bomb.”

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

At least 300 workers were told they were terminated in a videoconference last week that ended abruptly and they were not given information about severance, according to the lawsuit.

Higher rates are also affecting the share of loans that actually go all the way to closing, Black Knight found.

The affordability crisis is giving buyers more reason to exit contracts, another sign of a cooling market.

The company’s introduction of other strategic initiatives, including a new technology partnership, will lead to the elimination of 17% of current staff.

A lawyer for the former head of sales alleged that the company is close to losing its warehouse line of credit while unnamed sources in a media report say the plaintiff was slacking off at the end of her tenure with the lender.

The move aims to help workers who experienced interruptions in employment due to the public health emergency qualify for Federal Housing Administration-insured mortgages.

After a turbulent period of layoffs, financial losses, allegations of misconduct and other public gaffes, the digital lender attempts to start anew with the hiring of Sushil Sharma as chief growth officer and others.