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Wells Fargo

Wells Fargo to offer 50-bps incentive for ICON 3D-printed homes

Construction, Homebuilders, Housing Market, HWmember, Mortgage, Technology, Wells Fargo /

Wells Fargo has reached an agreement with construction technology company ICON to serve as the preferred lender for its new 3D-printed residential properties. As part of the partnership, the bank will offer a 50 basis-point interest rate incentive to borrowers. “The housing market is looking for new ways to increase supply and improve affordability, and this technology is […]

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LA wildfire recovery aftermath draws Trump scrutiny

California, Donald Trump, Forbearance, Housing Market, HWmember, Los Angeles, Mortgage, Wells Fargo, Wildfire /

Donald Trump said last week that his administration will examine how banks are treating homeowners affected by the last year’s Los Angeles wildfires, singling out Wells Fargo for criticism after meetings with local officials. In a post on Truth Social, Trump said he met with Los Angeles Mayor Karen Bass and Los Angeles County supervisor

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Study finds racial gaps in Wells Fargo mortgage denials

Originations, Politics and policy, Racial bias, Wells Fargo /

Wells Fargo’s mortgage lending patterns exhibit racial disparities that hurt minority families, multiple activist organizations say. Processing Content The mega bank denied Black, Latino and Asian mortgage applicants roughly twice as frequently as white applicants, according to a new study that analyzed almost 25,000 North Carolina mortgage applications and more than 16,000 loans at Wells

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Strong consumer results push Wells Fargo profits higher

Consumer lending, Earnings, Wells Fargo /

Forward look: Wells Fargo is projecting $50 billion in 2026 net interest income, a 5% increase over the 2025 result. Expert quote: “The cash flow, the spending levels, the credit performance has all been quite good so far.” — Chief Financial Officer Mike Santomassimo, commenting on Wells’ consumer results Supporting data: Wells’ total assets reached

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Wells Fargo taps head of consumer banking to lead on AI

Wells Fargo taps head of consumer banking to lead on AI

Artificial Intelligence, Industry News, Technology, Wells Fargo /

Key Insight: Wells Fargo has tapped its head of consumer and small-business banking, Saul Van Beurden, to lead its expanding efforts in artificial intelligence. Supporting Data: Just in the past year, Wells Fargo has trained over 90,000 employees to use new AI tools, according to CEO Charlie Scharf. Expert Quote: The new appointment is “a

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Newrez boosts Rithm Capital’s Q3 earnings

Earnings, HWmember, LendingLife, Mortgage, Mortgage Servicing, NewRez, Origination, Wells Fargo /

Multichannel mortgage lender Newrez continued to contribute positively to parent company Rithm Capital’s earnings in the third quarter of 2025, during which the company closed an agreement with Wells Fargo in the private-label securities (PLS) space. In the third quarter, Newrez posted pretax income of $295 million — excluding a net hedge mortgage servicing rights

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Wells Fargo’s earnings aided by consumers, capital markets

Consumer banking, Earnings, Wells Fargo /

Bottom line: Wells Fargo’s third quarter profit jumped 9%, eclipsing analysts’ expectations by a wide margin.  Expert quote: “Wages have kept up with inflation for many folks, and we continue to see unemployment be quite low historically,” Chief Financial Officer Mike Santomassimo said.  Forward look: Wells Fargo increased its target for return on tangible common

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Wells Fargo’s asset cap is gone, but loan demand stays tepid

Earnings, Non-interest income, Wells Fargo /

`UPDATE: This story now includes commentary from Wells Fargo executives and analysts. The regulatory shackles are off at Wells Fargo, but that new reality doesn’t necessarily mean that rapid growth is in the offing. Though the bank’s assets climbed above their longtime $1.95 trillion limit during the second quarter, Wells continues to be constrained by

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Lawsuit claims Xactus, Equifax, others violated Fair Credit Reporting Act

California, Citigroup, Credit, Equifax, HWmember, Lawsuit, Legal, Mortgage, Wells Fargo, Xactus /

A plaintiff in California is claiming that Xactus and Equifax did not conduct a “reasonable” investigation into claims of identity theft, which harmed her credit and violated the Fair Credit Reporting Act.  The suit was filed in late May in the Superior Court of San Bernardino County, California, by plaintiff Junnan Guo, who is representing

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Wells Fargo: End of asset cap is not a “light-switch moment”

Wells Fargo: End of asset cap is not a “light-switch moment”

Deposits, Regulation and compliance, Wells Fargo /

Regulators decision to lift Wells Fargo’s asset cap after seven years leaves the San Francisco-based bank better positioned for growth but won’t result in significant near-term gains, CFO Michael Santomassimo said.Eric Thayer/Bloomberg Wells Fargo has more flexibility, and its bankers can go about their business in a more “front-footed” fashion, now the Federal Reserve has

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