Wells Fargo hit with record finds, will pay $1 billion for mortgage, auto lending abuses

Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in years-long, wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion will go directly to the victims of Wells Fargo's abuses.
See Original Article

April 20 (Reuters) – Federal Home Loan Mortgage Corp : * FREDDIE MAC PRICES $1.1 BILLION MULTIFAMILY K-DEAL, K-075. * FREDDIE MAC – EXPECTS TO ISSUE ABOUT $1.1 BILLION IN K CERTIFICATES (K-075 CERTIFICATES), WHICH ARE EXPECTED TO SETTLE ON OR ABOUT APRIL 27,
See Original Article

It was felt that most of the international theatergoers that come to the city wait until they get to the city to buy their tickets. They may not get the best seats. They may not get the shows they want. It's our goal to get them to be aware of how to buy tickets and how to buy their tickets before they get here.
See Original Article

“Our thesis is that the volatility of cryptocurrencies is actually largely blocking mainstream adoption,” Al-Naji said on Fortune's latest episode of Balancing the Ledger, a weekly show about blockchain technology and fintech cohosted by Robert Hackett and Jen Wieczner. “If you look at something like
See Original Article

“Government policy changes have made homebuyers and sellers increasingly uncertain about the outlook for home prices,” said Canadian Real Estate Board (CREA) President Andrew Peck. “The extent to which these changes have impacted housing market sentiment varies by region.” Ontario's Fair
See Original Article

Separately, Wells Fargo, the nation's largest mortgage lender, has admitted that thousands of mortgage customers were forced to pay unnecessary fees to lock in the interest rates on their home loans. “Wells Fargo had achieved a really lofty reputation, but that reputation has now fallen down to average
See Original Article

DENVER–(BUSINESS WIRE)–Apr 20, 2018–CoreSite Realty Corporation (NYSE:COR), a premier provider of secure, reliable, high-performance data … and information security; significant industry competition; financial market fluctuations; and other factors affecting the real estate industry generally.
See Original Article

Many agree that Facebook needs to make some changes. But those changes are a lot more complicated than the public conversation suggests. Let's discuss three of what would seem to be the simplest moves Facebook could make: tighter standards for political speech, user verification, and allowing
See Original Article

Wells Fargo, the lender grappling with fallout over millions of phony accounts and government restrictions on its growth, agreed to pay $1 billion in civil penalties to settle investigations of its automotive- and mortgage-lending practices. The settlement follows talks with the Consumer Financial Protection
See Original Article

Interest rate rises may be gradual, but they won't be glacial, Michael Saunders, a member of the Bank of England's rate-setting committee has said, hinting that homebuyers could see the base rate rise to 2% before long. So what would happen to your mortgage (and savings) if and when rates are hiked
See Original Article

PROVIDENCE, R.I. (AP) — Providence is trying to figure out how create more affordable housing. The City Council passed a resolution Thursday night creating a commission to look at why housing is expensive in Providence and what can be done about it. Spokesman Billy Kepner says the commission
See Original Article

This article first appeared in Data Sheet, Fortune's daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here. Good morning from Chicago, where last night my colleagues and I hosted a dinner to kick-off the Brainstorm Reinvent conference in this great city in September.
See Original Article

News stories about Investors Title (NASDAQ:ITIC) have trended somewhat positive recently, Accern Sentiment reports. The research firm scores the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a
See Original Article

Brunswick County's residential real estate market continued to show steady, strong growth through the first quarter of 2018, with total sales volume outpacing the first quarter of 2017 by 26.2 percent, according to the latest statistics released by the Brunswick County Association of Realtors.
See Original Article

A data validation integration Freddie Mac is adding to its technology platform this summer could also deliver representation and warranty relief to lenders when it verifies self-employed borrowers' incomes. So far the only company Freddie has approved for this type of data validation is LoanBeam,
See Original Article

JACKSON, WY— Jackson Hole Real Estate Associates proudly released 2018's quarter one market report this week. The detailed report presents information on the market segments making up the Jackson Hole area. As the market leader in Jackson Hole, JHREA has developed a more dynamic report
See Original Article

The consent orders from the two agencies described how the bank unfairly disregarded its advertised process of locking-in interest rates for mortgages, as well as unfairly foisting insurance on customers taking out auto loans. If a closing of a mortgage dragged on due to Wells Fargo and not the customer
See Original Article

Hedge-fund billionaires were already struggling to keep investors from heading out the door. Then along came another problem: big tax bills. David Einhorn, John Paulson, Steve Cohen and other high-profile managers cumulatively owed billions of dollars to federal, state and local governments for
See Original Article

SAN FRANCISCO — Wells Fargo agreed on Friday to pay a $1 billion fine to government regulators to settle the banking behemoth's misdeeds over improper practices in its auto insurance and mortgage businesses, the latest scandal to engulf the banking behemoth — but victims of the abuses will
See Original Article

Doug Ducey recently appointed Vice Mayor Mark Clark as a commissioner to the Arizona Water Banking Authority. The Arizona state senate … AWBA stores or “banks” unused Colorado River water for use in times of shortage in order to secure water supplies for Arizona. Clark's appointment fills a seat
See Original Article