John Stumpf News
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Wells Fargo & Co., the largest U.S. home lender and the nation’s most valuable bank, closed at a record high yesterday as strength in the economy and housing markets spurred buyers.
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U.S. banks eased standards and terms on loans to businesses as commercial lending led a credit thaw, according to a Federal Reserve survey.
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Wells Fargo & Co. boosted Chief Executive Officer John Stumpf’s compensation for 2012 by 7.8 percent to $19.3 million, making him the second highest-paid leader among the biggest U.S. lenders.
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Wells Fargo & Co. Chief Executive Officer John Stumpf said there aren’t enough homes for sale in some markets and that a rebound in sales, prices and construction will bolster future earnings.
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Wells Fargo & Co., the largest U.S. mortgage originator, is expanding its home-lending headquarters in Iowa as the firm plans for growth even while the industry predicts a slowing market.
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New-home construction in the U.S. climbed in March to the highest level in almost five years, propelled by a surge in multifamily building that will support economic growth.
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Wells Fargo & Co., the largest U.S. home lender, said lower expenses helped the company post a record profit in the first quarter even as revenue dropped and lending margins narrowed.
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Wells Fargo & Co., the largest U.S. home lender, is turning to former University of Notre Dame football coach Lou Holtz and a captive audience of real-estate agents to attract new business as the pace of U.S. mortgage refinancings is set to drop to the slowest since 2008.
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Builders probably began work on more new homes in March, a sign one of the bright spots of the U.S. expansion is making steady progress, economists said before a report today.
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Builders probably began work on U.S. homes in March at the second-fastest pace in almost five years, a sign one of the bright spots of the expansion is making further progress, economists said before reports this week.
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