New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For JPM;BAC;WFC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
<< 1 | 2 | 3 | all recent news | >>
November 13, 2014
17:35 EDTWFCOcwen unit signs mutual termination agreement with Wells Fargo
Subscribe for More Information
17:32 EDTWFCWells Fargo, Ocwen agree to cancel sale of mortgage servicing rights
Wells Fargo & Co. (WFC) announced that its subsidiary, Wells Fargo Bank, N.A., and Ocwen Loan Servicing have mutually decided to cancel a previously announced sale to Ocwen of certain Wells Fargo residential mortgage servicing rights. Cancelation of the transaction is not expected to be material to Wells Fargo’s consolidated financial results.
12:53 EDTWFCWells Fargo sees Q4 mortgage originations to decline from Q3
Expects Q4 mortgage originations to decline from Q3, reflecting normal seasonality in purchase market, while gain on sale margin is expected to remain within range of last four quarters. Expects to operate within targeted efficiency ratio range of 55%-59% in Q4. Wells Fargo said that while there is potential for continued net interest margin pressure, focus remains on growing net interest income over time. The comapny said it expects future reserve releases absent signification deterioration in the economy, but expect a lower level of future releases as the rate of improvement in credit loans and loan portfolio grows. Expects share count to continue to decline in Q4 as result of anticipated net share repurchases. Says mortgage business profitable and very pleased with that segment. Comments taken from slides for presentation at Bank of America Merrill Lynch Banking and Financial Services Conference.
08:33 EDTWFCWells Fargo sells federal student loans to Navient
Wells Fargo & Co. (WFC) Education Financial Services announced that Navient (NAVI) will purchase a principal balance of $8.5B of Federal Family Education Loan Program loans, which are included in Wells Fargo’s held-for-sale loan portfolio. Due to a change in federal law, Wells Fargo has not issued federal student loans since June 30, 2010. This sale supports Wells Fargo’s ongoing strategic focus on its private student lending business. “By selling these FFELP loans to Navient, Wells Fargo will be in a position to focus more on meeting the needs of our private student loan customers,” said John Rasmussen, head of Wells Fargo’s Education Financial Services. “We are deeply committed to the private student loan business because next to purchasing a home or saving for retirement, paying for an education is one of the most important financial events for our customers.” ). The sale is expected to close in a series of transactions, substantially all of which are expected to be completed in fourth quarter 2014, subject to customary closing conditions. Terms of the transaction were not disclosed and the sale is not material to Wells Fargo.
07:38 EDTJPMBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
November 12, 2014
16:23 EDTBAC, JPMOn The Fly: Closing Wrap
Subscribe for More Information
12:38 EDTJPM, BACOn The Fly: Midday Wrap
Subscribe for More Information
10:19 EDTJPMJPMorgan pays $1.01B to settle FX charges, says litigations ongoing
Subscribe for More Information
10:14 EDTJPM, BACOCC fines Bank of America, Citigroup, JPMorgan $950M over FX trading
Subscribe for More Information
10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:36 EDTJPM, WFCInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
08:57 EDTJPMBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
Subscribe for More Information
08:13 EDTJPMBoston Biotech to hold a conference
Subscribe for More Information
07:28 EDTBAC, WFC, JPMBofA/Merrill to hold a conference
Subscribe for More Information
07:02 EDTJPMJPMorgan makes changes in response to foreign exchange probe, Reuters says
Subscribe for More Information
06:12 EDTJPMCFTC fines five banks $1.4B for manipulation of FX benchmark rates
Subscribe for More Information
06:05 EDTJPMFCA fines five banks $1.7B over FX trading operations
Subscribe for More Information
06:04 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Bernstein
Subscribe for More Information
November 11, 2014
14:30 EDTJPMBanks to be hit with billions in fines for currency manipulation, Telegraph says
Subscribe for More Information
11:56 EDTBACAmerican Commercial weighs sale with value of over $1B, Financial Times says
Subscribe for More Information
<< 1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use