While not exiting it entirely, they'll be focusing on only providing mortgages to their existing customers, and those in minority communities.

Higher Interest Rates, Loans to Aid BofA (BAC) Q4 Earnings

11:40am, Wednesday, 11'th Jan 2023 Zacks Investment Research
Higher interest rates, decent loan demand and robust trading performance are expected to have supported BofA's (BAC) Q4 earnings.
The US bank will now offer home loans only to existing customers and minority communities, after mortgage rates followed interest rates higher and hit demand.
Wall Street seems to agree that we'll be entering a recession. I just can't accept that at face value.

Wells Fargo Pulls Back From Mortgage Market

10:10am, Wednesday, 11'th Jan 2023
Wells Fargo, once the number one player among major banks in the U.S. mortgage market, has said it will step back from the mortgage business ahead of its latest earnings report.

Why AT&T Stock Topped the Market on Tuesday

10:34pm, Tuesday, 10'th Jan 2023 The Motley Fool
Although macroeconomic factors are producing drag at the moment, one pundit believes there is plenty of reason to be bullish on the company.

Jefferies stock rises on merchant banking strength

07:56pm, Tuesday, 10'th Jan 2023 MarketWatch
Analyst sums up Jefferies as a decent result in an overall messy quarter as the company kicks off earnings season for Wall Street banks
Wells Fargo & Co (NYSE: WFC) just revealed plans of trimming its footprint in home lending. Moving forward, it will offer home loans only to existing customers and “minority” borrowers.
CEO lambastes FTX as a 'decentralized Ponzi scheme' and says JPMorgan continues to add staff as it opens more branches around the globe.
Wells Fargo has stated that it will be pulling back on its real estate offering operations while Franchise Group, the parent company of Vitamin Shoppe, is reportedly considering taking its company pri

Wells Fargo Is Shrinking Its Mortgage Business

05:40pm, Tuesday, 10'th Jan 2023
Once the nation's biggest mortgage lender, the bank will lend primarily to existing customers and minority borrowers.
CNBC's Hugh Son joins 'Closing Bell: Overtime' to report that Wells Fargo has decided to take a significant step back from the mortgage market.
Wells Fargo said late Tuesday it was shrinking its home-mortgage business, aiming to serve its own bank customers as well as people in “minority communities.”
It's the latest, and perhaps most significant, strategic shift that CEO Charlie Scharf has undertaken since joining Wells Fargo in late 2019.
Upgrades Morgan Stanley upgraded the previous rating for Stem Inc (NYSE:STEM) from Equal-Weight to Overweight. In the third quarter, Stem showed an EPS of $0.22, compared to $0.15 from the year-ago qu
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