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...The average price of a home sold by E&V last year was up 29 per cent on the year before. New buyers and existing owners are using their homes for longer....
...In the US, $9.5bn of credit charges — including loan loss provisions — pushed Wells Fargo to a $2.4bn loss, while profit fell more than 50 per cent at Citi, Bank of America and JPMorgan....
...Yes, the numbers are bigger, but the shock, while not a V is shorter and sharper than that crash, and the pre-crisis fiscal situation was strong....
...Sign up to receive a daily digest of the big issues straight to your inbox. Once again, Wells Fargo is in trouble....
...(FT) Shareholders rebel at Wells Fargo Directors at Wells Fargo were in the line of fire for their alleged lack of action over illegal practices at the bank during a turbulent board meeting on Tuesday night...
...He may well bring the UK to front of the queue for a trade deal, but such a deal will still take years to agree....
...Large banks including Wells Fargo, the biggest home lender, Bank of America and Bank of the West have said they will continue to offer some non-“qualified mortgage” loans once the rules take effect....
...On Tuesday, Wells Fargo and Goldman Sachs said they may face SEC charges relating to their sale of mortgage securities....
...This was expected but it’s still a potentially damaging blow to Bank of America, Wells Fargo, JP Morgan Chase, Citi, and GMAC, and to a housing recovery that is yet to even begin....
...However, Franklin Codel, executive vice-president of Wells Fargo Home Mortgage, said that even borrowers with negative equity could refinance and there was no blanket demand from banks for big downpayments...
...home upgrades....
...in mortgage rates....
...And some analysts expressed considerable doubt about Wells Fargo’s assumptions, as well as other accounting issues....
...Fargo acquiring struggling competitors on favourable terms....
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