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t1215s

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Wednesday, 01/11/2023 7:30:33 AM

Wednesday, January 11, 2023 7:30:33 AM

Post# of 729541
Wells Fargo to shrink mortgage business, exit correspondent lending

Wells Fargo & Co will slim down its home lending business by reducing its mortgage servicing portfolio and exiting the correspondent lending business, the company said on Tuesday.

“We are making the decision to continue to reduce risk in the mortgage business by reducing its size and narrowing its focus," Kleber Santos, the bank's chief executive for consumer lending, said in a statement.
Updated Jan 11, 2023, 4:31 PM IST

Complete story
https://www.businesstoday.in/latest/world/story/wells-fargo-to-shrink-mortgage-business-exit-correspondent-lending-359817-2023-01-11

( Also mortgage applications numbers out today around 10:30 AM.)
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