Organization Root Tag

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.

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

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.

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.

The appointment of eight new company leaders comes after months of bleak news including allegations of misleading investors, massive layoffs and a still-unfinished effort to go public.

The agency issued an advisory opinion warning that credit reporting bureaus and other entities using credit checks can no longer use disclaimers to bypass privacy protections.

The 30-year average has made a steep reversal over the past two weeks following a large acceleration in mid-June.

Average purchase-loan amounts shrank for the second week in a row and are currently 12% below their record size in March.

California counties must now work to remove decades-old racist language in property records that once banned people of color from buying homes in neighborhoods across the state.

Congressional authorization for credit-preference programs in the Equal Credit Opportunity Act could mitigate disagreements that might arise from the equitable housing finance plans, write two partners at K&L Gates.

Borrowers condemned the company's disclosures, which came six months after the incident and omitted details about the hack and subsequent investigation.

Although the Federal Housing Finance Agency did move ahead with a controversial upfront charge aimed at covering commingled securities risk, it also committed to exploring alternatives that would address concerns from trade groups.

One of the secondary market alternatives the Federal Home Loan Banks of Chicago and Indianapolis offer has a new servicing partnership with PHH, and interest in further cultivating their community lending potential is growing.

The 30-year average dropped for the first time in four weeks after surging more than 70 basis points earlier in the month.

In a new interpretative rule filed Tuesday, the agency gave states a green light to expand on federal laws that protect consumers from unfair treatment by credit reporting agencies.

The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.

Overall mortgage volumes flattened last week, but average loan amounts, particularly for purchases, are shrinking according to the Mortgage Bankers Association.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, is laying the groundwork to potentially declare that Facebook and another Big Tech firms pose risks to consumers.

The company’s new head held the role of chief operating and growth officer before being elevated to the leadership positions on an interim basis earlier this year.

The Federal Housing Finance Agency is moving forward with the charge but also pledged to ensure it doesn’t undermine the uniform security’s advantages the way trade groups say it could.