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Wells Fargo kept Chief Executive Charlie Scharf's pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals.

Since new policies were implemented following findings of improper influence by employees, some have neglected reporting, but corrective actions still met their intended goal because students and recent grads disclosed ties.

Despite the reduction from last year, "there are some signs that that production is coming back" in mortgage, the bank's CEO said.

Its "enhanced" oversight procedures now include a multilayered review process and if discriminatory bias is confirmed, an appraiser "will be subject to removal," the department said

He replaces Phyllis Caldwell, the former Treasury official who took the position in February 2016 and helped guide the company through the 2017 federal and state lawsuits.

The layoff round, which a spokesperson said represents "less than one quarter of one percent of the roles in the company," comes after Rocket announced a 20-person reduction in the marketing team in early January.

The department wants to make changes to its reconsideration of value process by giving Federal Housing Administration borrowers the opportunity to seek a second appraisal

Marianne Sullivan will be charged with overseeing the start of the second phase in a multi-year plan to develop cloud native technology at the servicing software company.

The majority of the positions impacted at the lending arm of real estate firm Keller Williams were related to loan processing, according to a company spokesperson.

A month after the National Community Reinvestment Coalition blasted KeyBank's mortgage lending record to Black borrowers, the group said it will send letters to the Federal Reserve and OCC about its findings.