The latest fine from regulators was leveled against the bank on Friday. But it's far from the only penalty it has paid in recent years, and more may be on the way.
Watch this video as Jim Obsitnik of Capsilon discusses how to define a true end-to-end digital mortgage, the importance of automation to the digital mortgage, and the sea of change that's happening in the interoperability of technologies to drive efficiency and a better experience.
According to the Reuters report, which cited unnamed sources, acting CFPB Director Mick Mulvaney is seeking a settlement with Wells over claims related to force-placed auto insurance and improper mortgage fees.
Momentum to overhaul the mortgage finance system had been slipping, and with Democrats divided over the Senate's banking relief bill there's virtually no chance more bipartisan deals can be worked out.
The investigation targeted 36 residential mortgage-backed securities deals involving $31 billion worth of loans, more than half of which defaulted, according to the Justice Department.
After several years of preparation, Fannie Mae and Freddie Mac will start issuing a new, common mortgage-backed security starting June 3, 2019, the Federal Housing Finance Agency said Wednesday.
A bill to allow captive insurance companies to be reinstated as members of the Federal Home Loan Bank System appears to be dividing the FHLB community.
HUD Secretary Ben Carson told lawmakers that overly rigid False Claims Act enforcement had forced lenders to suffer financially for what were just minor errors, but that lenders' fears of being sued were dissipating.
