Explore the evolving landscape of mortgage origination, influenced by shifting interest rates, housing market dynamics, and regulatory changes. Discover strategies for lenders to adapt and thrive in this dynamic environment.
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Wells Fargo, once America’s largest mortgage lender, has signaled a retreat from the industry. So reports CNN.
The bank announced that it plans to reduce the size of its servicing business and exit its correspondent business, which acquires loans originated by other lenders.
The pullback from trying to acquire new mortgage customers will probably lead to at least some layoffs, though none were specified and a spokesperson reportedly declined to comment on the matter.
