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Wells Fargo Eyes Retreat from Mortgage Business

Wells Fargo is looking to cut back its sprawling mortgage operations. So reports Bloomberg.

wells fargo 150x150The retreat will likely begin with the bank’s links to outside mortgage firms that accounted for about a third of its new home loans in 2021, sources told the news service.

“Like others in the industry, we’re evaluating the size of our mortgage business to adapt to a dramatically smaller originations market,” Wells Fargo said in a statement.

Read the full article from Bloomberg.

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