Marketing

Wells Fargo & Co. charged some homebuyers fees to extend promised interest rates when the bank failed to process their mortgage applications on time, ProPublica reported, citing four former employees from the Los Angeles area.

The Virginia bank has agreed to buy Tidewater Mortgage's majority stake in Old Point Mortgage.

Rising mortgage rates are offsetting higher demand and stifling the market potential for existing-home sales, according to First American Financial Corp.

The Connecticut bank said a spike in business lending and residential mortgages gave its fourth-quarter earnings a boost.

As the country's homes for sale inventory declines, prices and the percentage of homes going under contract quickly are rising, according to Redfin.

The increase for the month represented the fastest annual pace of appreciation recorded in 2016.

Builders broke ground on more homes than forecast in December as a jump in apartment construction helped cap the seventh straight yearly increase, a report from the Commerce Department showed Thursday.

Rising interest rates typically cause lenders to relax underwriting guidelines. The incoming administration promises to deregulate. Sounds like a combustible mix, but there's ample room to loosen credit without returning to the practices that caused the crisis.

The Justice Department claims the bank, which has received "satisfactory" ratings in its last four CRA exams, is failing to serve minority neighborhoods around Minneapolis.

Confidence among homebuilders retreated in January from an 11-year high, suggesting optimism has plateaued following Donald Trump's election victory, a report from the National Association of Home Builders/Wells Fargo showed Wednesday.