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The nation's largest bank indicated Monday that it may again offer home equity lines of credit to a wide audience. Rising mortgage rates have made the product more attractive after a long drought when low rates suppressed demand.
May 23 -
The central bank also signed off on Webster Financial’s acquisition of Sterling Bancorp and WSFS Financial’s purchase of Bryn Mawr Bank Corp. The moves come amid a political fight over the bank merger approval process.
December 17 -
The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.
July 14 -
CEO Charlie Scharf disappointed investors by failing to provide either a detailed road map for long-term expense reductions or say when he might release such a plan.
October 14 -
Altisource Portfolio Solutions cut its previous-quarter net loss by 49% in its most recent fiscal period, when property maintenance revenue and new Hubzu real estate auction site inventory increased.
July 25 -
Borrowers were more than twice as likely to use a lender they found online in 2018 as they were in 2017, making search engines the mortgage industry's top source of referrals.
March 12 -
The company will shutter the offices it inherited when it bought EverBank in 2017 and focus on lending to existing customers through digital channels. U.S. Bank will assume the leases on about 25 properties.
February 21 -
Altisource Portfolio Solutions plans to discontinue its buy-renovate-lease-sell business for single-family homes and sell its short-term inventory in order to cut costs and repay debt.
November 26 -
Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.
November 15 -
The company is facing criticism after a big chargeoff on two properties, showing that investors have little patience when a risky business model shows signs of distress.
October 19