Wells Fargo closes correspondent biz, will shrink servicing portfolio
Housing Wire
JANUARY 10, 2023
Wells Fargo , the largest depository mortgage lender in America, announced Tuesday that it will officially exit the correspondent channel and also reduce its servicing portfolio, the country’s largest. . The move isn’t much of a surprise. Executives have hinted at it over the past year and Bloomberg reported in August that Wells Fargo would likely shrink or eliminate the correspondent channel.
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