Wells Fargo & Co., the largest U.S. home lender, posted record fourth-quarter and full-year profit that was bolstered by expense cuts and one-time gains, raising concern among some analysts about the quality of the earnings.
Wells Fargo & Co., the largest U.S. home lender, has assigned about 400 underwriters to originate mortgages for the bank to hold, with as many as 40 percent of those loans likely to fall outside government guidelines taking effect this week.
Wells Fargo & Co., the largest U.S. home lender, sought to assure investors its other businesses can make up for flagging mortgage sales after posting a 13 percent gain in profit that partly relied on tapping loan-loss reserves.
JPMorgan Chase & Co. , sued by the trustee for Bernard Madoff’s defunct firm for $6.4 billion for allegedly aiding the con man’s fraud, asked a judge to remove the case from bankruptcy court because it raises “novel and unsettled questions” beyond the court’s scope and expertise.
Wells Fargo & Co., the largest U.S. bank by market value, named Jim Hays to oversee financial advisers in branches and wealth-management offices in a bid for growth and greater cooperation with the brokerage unit.
Malcolm Barnes distributed snacks for 27 years before losing his job in October 2007. After applying unsuccessfully with food companies, he’s taken welding and machining classes and is looking for manufacturing work.
Bank of New Zealand, a unit of National Australia Bank Ltd. , may seek to raise as much as NZ$400 million ($274 million) from the nation’s first sale of covered bonds, according to a person familiar with the plan.