Single-family mortgage production this year is expected to be 3% higher than anticipated last month, according to Fannie Mae, which revised its estimates based partly on a stronger housing outlook.

Homebuilder sentiment climbed to the highest level since February of last year as cheaper borrowing costs and a still-sturdy job market lifted measures of prospective buyer traffic, sales and the demand outlook.

Origination volumes continued to drift upward at JPMorgan Chase and Wells Fargo in the third quarter as mortgage servicing rights values fell more sharply than some analysts expected.

Charles Scharf’s most immediate priorities will be mending fences with regulators and getting the bank out from under a Fed-imposed asset cap. But he also must come up with strategies for spurring revenue growth and reining in expenses.

Scharf next month will become the fourth leader at Wells Fargo in three years. Meanwhile, Bank of New York Mellon has named Thomas P. "Todd" Gibbons as acting chief executive.

Sentiment among homebuilders climbed to the highest in almost a year on stronger current sales momentum, adding to signs that lower mortgage rates are giving the industry a boost.

California Attorney General Xavier Becerra filed a brief Thursday in support of Oakland's lawsuit against Wells Fargo, alleging that the bank illegally discriminated against minority borrowers.

For the third time in five months, the San Francisco bank made a downward revision Monday to its guidance on net interest income. An executive cited the impact of lower interest rates.

Sentiment among homebuilders rose in August to match its 2019 high as mortgage rates tumbled, though a weaker outlook signaled concern that any gains will be temporary as investors fret about an economic downturn.

Two key economic forces are responsible for driving single-family housing forward, but their potential is limited, according to the National Association of Home Builders.

Wells Fargo and JPMorgan Chase recorded stronger mortgage originations in the second quarter as rates fell, but profits from single-family loans were lower than a year ago due to decreased servicing revenue.

Homebuilders' optimism increased as low mortgage rates fueled demand. However, affordability constraints and the continuing scarcity of construction workers and land parcels remain concerns.

Almost two-thirds of consumers think they must be debt-free to get home financing when in fact they can have debt-to-income levels as high as 43% or greater, according to Wells Fargo.

The bank has hired Brandee McHale away from Citigroup to head its charitable foundation and implement a new strategy that will place a greater emphasis on rental housing and combating homelessness.

Wells Fargo hired two seasoned veterans for their mortgage technology and data security expertise amid a digital era for financial industries.

Affordability got better for mortgage borrowers at the start of 2019, but housing inventory constraints limited the degree of improvement, according to the National Association of Home Builders and Wells Fargo.

The transaction represents one of the biggest mortgage-backed bond offerings of large-balance home loans this year — behind only Wells first prime jumbo RMBS in January.

JPMorgan Chase's Corporate Client Banking and Specialized Industries Mortgage group is now accepting electronic promissory notes as collateral to fund warehouse loans.

A renovated office complex in Florida and a recently built Great Wolf Lodge resort in Orange County make up two of the largest loans in Wells Fargo's latest conduit.

Even after integrating the 52 Wells Fargo branches acquired in December as part of its efforts to diversify beyond home lending, Flagstar Bancorp's first-quarter earnings were driven by increased mortgage revenue.