By KIMBERLEY HAAS Leaders at Rocket Pro TPO have announced a new loan level pricing adjustment tool and the executive vice president says it is the result of listening to feedback from their partners. Mike Fawaz sat down with The Mortgage Note on Monday to talk about Target Profit Control, which eliminates misquoting or loan…
Wells Fargo’s net earnings dropped in Q4 2022, pushed down by a settlement and the pressures of a shrinking economy. The bank announced that its net income fell to $2.86 billion, or 67 cents a share. This is half of its profits from the same time last year, which came in at $5.75 billion, $1.38…
Wells Fargo is reducing its home lending footprint, a move that experts say will have major ramifications in the mortgage industry. Formerly the nation’s largest mortgage lender, the bank announced Tuesday that it is exiting the correspondent lending channel and shrinking its mortgage servicing portfolio. “We are making the decision to continue to reduce risk…
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