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Wells Fargo Mortgage Originations Tumble Amid Rising Interest Rates - Latest News

Wells Fargo mortgage originations tumble amid rising interest rates

As interest rates have risen over the last several months, mortgage originations appear to be trending down, especially in the refinance space. Wells Fargo reported Friday that it originated $46 billi... read more

Wells Fargo's third quarter revenue tops expectations amid bank revamp

Wells Fargo ... originations rose 10 percent from the third quarter last year, and small business loans rose 28 percent. Wells said its net interest margin ticked up to 2.94 percent from 2.93 percent ... read more

Wells Fargo Earnings: Record Income, Strong Mortgage Business, And Economic Implications

Did the Company Beat Expectations and Have Expectations Been Rising/Declining ... we're able to grow net interest income and that's really the driver." Wells Fargo's mortgage business showed strong re... read more

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Wells Fargo shares rise after revenue tops expectations amid bank revamp

But mortgage activity was down as loan applications and originations ... Wells said its net interest margin ticked up to 2.94 percent from 2.93 percent in the second quarter. With interest rates ... read more

Wells Fargo hit by surprise charge from pre-crisis mortgages

Nearly a decade after the financial crisis, Wells Fargo ... Financial. Mortgage banking fees tumbled for the fifth straight quarter to $1.05 billion as demand from homeowners for refinancing continued ... read more

JPMorgan to Trim Mortgage Banking Division, Slash 400 Jobs

Reasons Behind Layoffs The primary reason for slashing workforce in the bankā€™smortgage banking division is the rising interest rates, which have resulted in increase in mortgage rates. This, in turn, ... read more

Wells Fargo eclipses JPMorgan as most profitable U.S. bank

Both banks have been buffeted by downturns in mortgage originations as long ... JPMorgan's stock added 4 cents to $57.74. Wells Fargo shares gained 3 cents to $45.59. Bove, the bank analyst, predicted ... read more

Mortgage Mix Morphing As Volume Falls

Meanwhile, the volume of mortgage loans is falling. That could affect mortgage lenders such as Wells Fargo ... low interest rates. Lending Shift Approaches Mortgage Bankers Association figures show th... read more

Wells Fargo, More than $1 Billion Per Day; State Examiner Guides Could Be Useful; MERS Training; Conference Talk

For a mortgage bank, what is your warehouse cost of funds versus the average mortgage rate for your originations? If your mortgages are at 4%, and your warehouse is at 3%, you're earning a 1% spread. ... read more

Homebuilders approach bear market on rising U.S. mortgage rates

Wells Fargo & Co., the largest U.S. home lender, is offering a 30-year mortgage at 4.75 percent today, according to its website. An extended rise in rates may hurt homebuildersā€™ mortgage- origination ... read more

Digital Products, New Book for LO's; Big Bank Mortgage Earnings

Bank and M&A News Higher interest rates have ... but mortgage and other lending, fixed-income trading, completed mergers and acquisitions, and bond and stock offerings appear to be slowing. Citigroup, ... read more

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