Newsfeed: Wells Fargo Cuts Back on Mortgage Lending
The company strived to be No. 1 and once churned out a third of all U.S. mortgages. But it’s cutting ties to outside lenders after years of regulatory struggles.
The company strived to be No. 1 and once churned out a third of all U.S. mortgages. But it’s cutting ties to outside lenders after years of regulatory struggles.
Wells Fargo & Co. said it’s weighing the size of its mortgage business in the face of a “dramatically smaller originations market” as home buyers retreat from higher interest rates and lending capital grows more scarce.
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