Mortgage Financing Bolsters Wells Fargo’s Record Profit
Propelled by its mortgage business – the biggest in the U.S. – Wells Fargo & Co. reported a record 20 percent jump in fourth-quarter profit, exceeding Wall Street expectations.
Through its core consumer ...
Credit Customers Boost Citigroup, But Profit Drops 11%
Citigroup’s loan business improved in the fourth quarter as consumers did a better job of paying down their credit card balances, but the nation’s third largest bank by assets was hurt by investments and missed ...
Lenders Add Bigger Fannie, Freddie Fee – Thanks to Payroll Tax Cut
Lenders are already adding an increase in fees on mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration to new loans – a hike that will pay for the extension of the payroll tax cut.
The ...
Don’t Expect Recovery in Home Prices in 2012: Survey
The long anticipated recovery in home prices will have to wait another year as the housing market weighed down by foreclosures finds a bottom in 2012, according to a Reuters poll of 23 economists and analysts.
The ...
JPMorgan Chase Lending Grows As Charge-Offs Fall 43% in 2011
JPMorgan Chase, the nation’s largest bank by assets and top credit card issuer, saw its profit drop 23 percent in the fourth quarter, mainly from falling trading and investment bank revenue.
But its loan business, ...
Mortgage Rates Set Record Lows, 30-Year at 3.89%
Fixed and adjustable mortgage rates slipped to all-time record lows for the past seven days, with the average for the 30-year loan marking the sixth consecutive week below 4 percent.
The 30-year-fixed averaged 3.89 ...
Suze vs. Walmart: Orman Offers Her Own Prepaid Debit Card
Personal finance author and TV personality Suze Orman has launched her own prepaid debit card that charges low fees, compared to similar offerings on the market, and is tied to a unique pilot program with TransUnion, ...
U.S. Credit Card, Other Borrowing Surges Surprising 9.9%
U.S. consumer borrowing – via credit cards and auto and student loans – made the biggest jump in November since the onset of the financial crisis, surging at a 9.9 percent seasonally-adjusted annual rate, according ...
Sales of Consumer Electronics Down 6% This Holiday Season
Sales of computers, TVs and other electronics dipped 5.9 percent to about $9.5 billion for the five weeks ending Dec. 24, only a slight improvement over the 6.2 decline for the same period in 2010, according to ...
Rents to Rise at Faster Pace Than Home Prices in 2012: Fannie Mae Survey
Americans surveyed said that they expect rental prices to increase in 2012 more than home prices, which will mostly remain stagnant, according to a survey by Fannie Mae.
On average, U.S. consumers expect home prices ...
