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April 14, 2017

Citi continues moving away from mortgages as originations plummet

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By Ben Lane at Housingwire Citigroup continues moving away from mortgages as originations plummet Nearly finished with exit from mortgage servicing Citigroup first-quarter earnings show that the bank is continuing to move further and further away from mortgages and into other lines of business (The bigger question is why is Citi moving away from originating and …

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SEC “Cease & Desist” Reveals Deception – Wilmington Savings Fund Society, FSB as Trustee / “Transfer Agent” Was Acting On Behalf Of Unknown Investors

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SEC “Cease & Desist” Reveals Deception – Wilmington Savings Fund Society, FSB as Trustee / “Transfer Agent” Was Acting On Behalf Of Unknown Investors Posted by Bill Paatalo on Apr 12, 2017 http://bpinvestigativeagency.com/sec-cease-desist-reveals-deception-wilmington-savings-fund-society-fsb-as-trustee-transfer-agent-was-acting-on-behalf-of-unknown-investors/ On September 22, 2016, the SEC issued the following “Cease & Desist” order against “Wilmington Savings Fund Society, FSB” who was the …

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Big US Banks Make Laughable Excuses for Preserving Failed Universal Bank Model

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Posted on April 14, 2017 by Yves Smith at Naked Capitalism In today’s lead story at the Financial Times, Big US banks defy calls that they should be broken up, American megabanks make clear that they don’t think much of the financial savvy of investors or the business press. In quarterly earning calls, bank analysts …

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Wells Fargo loan applications and originations plunge

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by the Lendinglies Team Wells Fargo’s Q4 earnings  last year created an alarm because with rising interest rates, bad publicity, and a slew of lawsuits from investors, governmental entities and homeowners, Wells Fargo appeared to be in for a rough ride.  Residential mortgage applications also plunged in Q4 by $25 billion from the prior quarter, …

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