Ben Eisen
Wall Street Journal
New York, NY, United States
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Recent articles by Ben:
Rising Mortgage Rates Shift Lenders’ Focus to Home Buyers
Mortgage lenders are refocusing on home buyers to drum up business during a slowdown in refinancing. → Read More
Bank of America Quarterly Profit Rises 58%
The second-largest U.S. bank earned $7.69 billion in the third quarter, as it benefited from a rebound in net interest income. The quarterly result topped analysts’ expectations. → Read More
The College Dropout Who Took Merrill Lynch Global
David Komansky, who as CEO of Merrill Lynch turned it into a global business just before its downfall, died Monday. → Read More
Rust Belt City’s Pitch for a Hot Housing Market: Free Homes
The mayor of Monessen, Pa., is trying to reverse the city’s long decline by giving away vacant homes to people who are willing to fix them up. → Read More
Bank of America Overhauls Top Management Ranks
The bank named a new chief financial officer and added three women to its senior ranks in its biggest leadership reshuffling in more than a decade. → Read More
Wells Fargo Fined $250 Million for Problems in Its Mortgage Business
The Office of the Comptroller of the Currency, one of the bank’s top regulators, said the lender had failed to fix problems first identified in 2018. → Read More
Scarce Credit Hinders Homeownership on Tribal Land
It takes patience and persistence to write a mortgage on Native American reservations, and most lenders don’t even attempt it. → Read More
Bank of America Says Two Top Executives to Retire
Chief Operating Officer Tom Montag and Vice Chairman Anne Finucane will remain in advisory roles. → Read More
New Appetite for Mortgage Bonds That Sidestep Fannie and Freddie
Wall Street firms are again packaging and selling mortgages that the government-backed firms can’t or won’t back. → Read More
Wells Fargo’s Black Takes Over as Chairman From Noski
The lender said that Charles Noski had stepped down as chairman and will be succeeded by Steven Black, a former JPMorgan Chase & Co. executive who joined the board last year. → Read More
Wild Housing Market Made His Modest Home a Hot Property
The real-estate boom has bargain-hungry property investors looking for deals in nondescript suburbs and small towns. → Read More
Bank of America to Raise U.S. Minimum Hourly Wage to $25 by 2025
Just over one year after raising its U.S. minimum wage to $20 an hour, Bank of America said it plans to raise its hourly minimum to $25 by 2025. → Read More
Housing-Market Surge Is Making the Cheapest Homes the Hottest
The red-hot U.S. housing market is giving an extra boost to the cheapest houses, including many in historically stagnant neighborhoods that have suffered from a lack of investment. → Read More
Bank of America Profit Doubles After It Releases Reserves for Bad Loans
Bank of America posted earnings of $8.05 billion in the first quarter, compared with $4.01 billion a year earlier. → Read More
Banks, After Bracing for Disaster, Are Now Ready for a Boom
Analysts expect banks to post a big increase in first-quarter profits, propelled by the release of rainy-day reserves. → Read More
Two Mortgage Titans Are in a Brawl. The Winner Is Michigan State Basketball.
Billionaire alums battle each other for business, but both support the Spartans who play in the NCAA tournament tonight → Read More
Wells Fargo’s $8 Billion Question: How to Slash Costs Without Angering Regulators
Wells Fargo is trying to slash at least $8 billion from its budget, while also spending billions to meet regulators’ requirements after its fake-account scandal. → Read More
America Went on a Borrowing Binge, but Banks Were Left Out
Lenders are flush with cash they want to put to use, and banks hope loan growth will pick up in 2021. → Read More
Wells Fargo CEO Charles Scharf Gets a 12% Pay Cut
The pay cut was for a year in which the bank’s profitability and stock both declined sharply as the pandemic took a heavy toll on the economy. → Read More
Biggest U.S. Banks Embrace ‘Rooney Rule’ Policies in Diversity Hiring Push
The commitment to mandating a diverse slate of applicants when hiring employees comes in response to shareholder proposals from the AFL-CIO's reserve fund. → Read More