Hints and tips:
...In recent quarters the Daily Journal had borrowed on margin to invest in a stock portfolio that also includes stakes in Bank of America, Wells Fargo and South Korean steelmaker Posco, according to public...
...The largest is a $100m loan on Trump Tower, at 725 Fifth Avenue, which accounts for just over 10 per cent of a 2012 deal packaged by Wells Fargo....
...“It’s one thing for a person to add a toilet paper to an Amazon list, it’s another thing to talk to a bank about your mortgage,” says Gorelov. Then, there are concerns about authentication....
..., Wells Fargo, Citi and GMAC) on the other....
...Shortly before the Soho companies bought the apartments, more than $3.1m flowed out of Ms Kudryashova’s Wells Fargo account to the firm of Martin Jajan, a New York lawyer....
...The other members of the consortium are Bank of America Merrill Lynch, BlackRock, Citadel, Citigroup, HSBC, Jefferies, JPMorgan, Maverick Capital, Morgan Stanley and Wells Fargo....
...But a succession of banks — including Wells Fargo, the number one mortgage lender — said that the pace had begun to fade....
...like Wells Fargo....
...In the absence of blowout figures — except a few bright spots in equity trading, asset management and mortgage originations — expect the bank to draw attention to its cost-cutting efforts, so far centred...
...US big bank earnings kicked off on Friday as Wells Fargo reported a 3.8 per cent increase in net income to $5.7bn, ending a 15-quarter streak of record profits....
...plans to buy $39bn of mortgage-servicing rights from Wells Fargo....
...Blighting the results of JPMorgan, and the other large US banks this quarter, is a lacklustre performance in mortgages and soft trading in fixed income, currencies and commodities (FICC) – with revenues...
...The sharp slowdown in mortgage refinancing will affect JPMorgan, the second-biggest mortgage lender behind Wells Fargo, which also announces earnings on Friday....
...Wells Fargo, less renowned for dealmaking than for being the biggest mortgage lender in the US, provided both advice and financing to 3G Capital and Berkshire Hathaway for their bid for Heinz....
...The company has previously bought mortgage servicing businesses from WL Ross & Co, the private equity group, as well as Goldman Sachs and Morgan Stanley, the investment banks....
...The mortgage servicing business is dominated by the large banks, such as Wells Fargo and Bank of America, but new regulations have made the business less attractive to the sector and there is a trend of...
...Wells Fargo, Bank of America and JPMorgan Chase service 46 per cent of mortgage debt. However, private equity-backed groups have been making steady inroads....
...Nationstar also originates mortgages, as well as providing services for delinquent loans, managing loans in foreclosure, title insurance, loan settlement and valuation services....
...However, the size and complexity of a deal would limit the pool of potential buyers to the likes of Wells Fargo, JPMorgan and perhaps Canadian bank TD Securities....
...Wells Fargo originated just over a third of all US mortgages in the first quarter. Wells’ 30.1 per cent fourth-quarter market share rose to 33.9 per cent in the first three months of 2012 (Bloomberg)....
...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....
...“I think there’s so much risk clustered around BofA and, to a much lesser extent, Wells [Fargo] that both of them have severe problems.”...
...Whether the taxpayer will be well rewarded will depend on both entities. Looking at just one will give a distorted picture,” he said....
...Wells Fargo, the second-biggest US mortgage servicer, has become the latest leading lender to acknowledge problems with its foreclosure procedures, reports the FT....
...As of September 30, Wells Fargo had $101bn of mortgage applications in its pipeline, up from $68bn at the end of June....
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