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"Over the last five trading days, performance of the major banking stocks was bullish as lower than expected April trade deficit level, which is likely to drive up Q2 GDP and positive momentum in oil prices, reinforced the chances of the rate hike in June.", www.zacks.com
"With lower down-payment requirements, a simpler application process and expanded assessments for credit history, the YourFirst Mortgage program was developed to serve first-time homebuyers such as millennials and low- to moderate-income homebuyers.", www.bizjournals.com
"The Consumer Financial Protection Bureau took action against a former Wells Fargo employee for an illegal mortgage fee-shifting scheme that allowed him to ultimately increase his commissions. According to the CFPB, David Eghbali referred a substantial number of loan closings to a single escrow company, which shifted its fees from some customers to others at Eghbali’s request. From there, the CFPB said Eghbali could then manipulate loan costs and ultimately increase the number of loans he closed, increasing his commissions. The CFPB, as a result, . . .", www.housingwire.com
"The CFPB alleges that David Eghbali, a loan officer for a Wells Fargo branch in Beverly Hills, Calif., developed a scheme to manipulate escrow fees in order to close more mortgages and boost his bonus. Eghbali says he was forced to sign a settlement because he couldn t afford to fight the CFPB in court.", www.nationalmortgagenews.com
"In a move to spur home ownership for moderate-income families, Wells Fargo said Thursday it will offer fixed-rate, 30-year mortgages to buyers with a down payment of as little as 3 percent.The program, known as yourFirst Mortgage, is available to present homeowners and others meeting modest credit score and other requirements. Buyers will have fewer out-of-pocket costs and be asked to attend a home-buying class.Kurt Hill, Oregon's area sales manager for Wells Fargo Home Mortgage, said qualified", www.mailtribune.com
"[Update: This article is updated with a quote from Chase in regards to the new loan program.] Prospective homebuyers, especially first-time homebuyers who are struggling to save up for a down payment, have a new, and significant, outlet that they can now turn to when seeking a low down payment mortgage — JPMorgan Chase. Earlier this year, Bank of America announced plans to begin offering a 3% down mortgage lending program that did not involve the Federal Housing Administration, important considering how many lenders have recently . . .", www.housingwire.com
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