Click on Chart for Larger View The table above lists the leading FHA mortgage originators for January 2010. For each mortgagee in this list, the lending volume for January 2009 is included to illustrate the year over year change. The data shows both Wells Fargo and Bank of America…
Wells Fargo this week becomes the 2nd bank, after Bank of America, to offer 2nd mortgage relief. The Associated Press reports: The program is part of the Obama administration’s mortgage modification program that is aimed at reducing monthly payments to help customers stay in their homes. The modification program offers…
First, in recent foreclosure news: More investors buy at repo auctions O.C. mortgage defaults up 13% Irvine loan mod firm is raided Every week, homes throughout Orange County go to foreclosure auctions. The owners can be millions of dollars in debt, or owe just a few thousand. Often these…
Click on Map Image for Larger View The map image shows the retail mortgage market share rankings of Wells Fargo Mortgage in all counties. The bright red colors represent first position in the market. The mortgage data includes all FHA home purchase mortgages for 2009.
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Wells Fargo said today it will close 25 of Wachovia’s retail locations in Orange County, merging operations with nearby offices often within a mile of each other. The company said it does not plan to cut jobs. Statewide the bank will close 101 Wachovia locations and 21 Wells branches.…
Roughly 9% of eligible borrowers have received a trial loan modification under the Obama administration’s $75 billion foreclosure prevention plan, the Treasury Department said today. The total is for people at least 60 days late on their mortgages — including folks just one month late or current on their…
Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… DesperateforAnswers in Lake Forest asks: Q. My husband and I have been working with our mortgage company, Wells Fargo,…
National Mortgage News reports Wells Fargo recently sold $600 million in distressed subprime loans to Irvine-based Arch Bay Capital. Paul Muolo of NMN says the loans were originally funded by two mid-sized subprime lenders: Accredited Home Loans and NovaStar Financial. Arch Bay co-founder Steven Davis declined to comment on…
First, yesterday I posted a funny article about Wells Fargo NA suing Wells Fargo NA (and other defendants). See: Wells Fargo Sues Wells Fargo, Wells Fargo Denies Allegations (ht Rama) Also gasoline prices fell: U.S. gasoline prices fall to $2.56/gallon According to the nationwide Lundberg survey of gas stations, Americans…
For a little Saturday night amusement … From FoxBusiness: Wells Fargo Bank Sues Itself (ht Rama) … I could not resist asking Wells Fargo Bank NA why it filed a civil complaint against itself in a mortgage foreclosure case in Hillsborough County, Fla. … In this particular case, Wells Fargo…