Replies to post #29388 on Cowboys and Cowgirls (WWWEST)

[MOPAR10R/T]

G'm PeggySue,


Yep, the weather this year is CRAZY World wide!
Did you see the flooding in England?
...and a internet friend in SO/CA said their in a terrible draught and water rationing is in efect already.

Yes, Heddy flew home on 7-17...and she said, she had a great time in OR and CA.

[SkeBallLarry]

Wells Fargo to close subprime wholesale lending business

By Gabriel Madway
Last Update: 12:29 PM ET Jul 26, 2007


SAN FRANCISCO (MarketWatch) -- Wells Fargo & Co.'s (WFC : Wells Fargo & Company
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Last: 34.01-0.56-1.62%

12:28pm 07/26/2007

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WFC34.01, -0.56, -1.6%) Wells Fargo Home Mortgage said Thursday it will close its nonprime wholesale lending business, which processes and funds subprime loans for third-party mortgage brokers. In 2006, the business represented 1.6% of Wells Fargo's total residential mortgage loan volume of $397.6 billion. "Wells Fargo will continue to offer nonprime loans in channels where the company has direct relationships with consumers" said Cara Heiden, Wells Fargo Home Mortgage division president, in a statement. Heiden added that "the decision to close our nonprime wholesale lending business has no effect on Wells Fargo's robust prime lending business." As part of the move, Wells Fargo will close its nonprime wholesale operations in Baton Rouge, La., and Des Moines, Iowa. In Baton Rouge, 170 positions will be affected, while in Des Moines, 67 employees will be affected. Shares of San Francisco-based Wells Fargo fell 58 cents to $33.99 in Thursday afternoon trade.