Mortgage Lenders News

Wells Fargo Exits Wholesale Reverse Mortgage

 · Wells Fargo is exiting the reverse mortgage business, according to a company press release.. The San Francisco-based bank and mortgage lender said it will discontinue the loan origination of Home Equity Conversion Mortgages (HECM) on June 30, 2011.. After that date, the company will no longer accept reverse mortgage applications, though it will continue to service existing loans for clients.

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Wells Fargo Quietly Exits RM Wholesale – housingwire.com – Wells Fargo announced plans to cease offering reverse mortgages through their wholesale channel after March 18, 2011. The move comes as little surprise considering Wells Fargo has made very little.

Wells Fargo Exits Reverse Mortgages – Nasdaq.com – Wells Fargo is getting out of the reverse mortgage business, the san francisco-based lender has announced. The company cited unpredictable home values in the current market in its decision to no.

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Wells Fargo Exits Reverse Mortgage Business – Wells Fargo, the leading originator of reverse mortgages, announced today that they will discontinue offering Home Equity Conversion Mortgages (HECM). This comes after their March 1, 2011 announcement that they were exiting the wholesale reverse mortgage business. There is a lot of speculation as to why Wells Fargo reverse mortgage would make this move.

Wells Fargo to Exit Wholesale Reverse Mortgage Business. – Wells Fargo will exit the wholesale reverse mortgage business and will no longer accept applications through its broker channel after March 18th. "After a detailed review of evaluation of volume and goals for 2011, Wells Fargo Wholesale Mortgage lending (our broker channel) has decided to discontinue offering reverse mortgage loans," said Veronica Clemons, spokesperson for [.]

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Chase Latest to Exit Wholesale Lending; Anyone Left? – (Update 1 clarifies the statement made last week by Wells Fargo.). Chase Latest to Exit Wholesale Lending; Anyone Left?. Citi exits wholesale mortgage lending. Exit, Stage Left: MetLife to.

Well Fargo Exits Reverse Mortgage – Reverse.org – Within less than a year both Bank of America and now Wells Fargo have exited reverse mortgage market. The reasons for the departures may have more to do with infrastructure set-ups, being able to achieve profitability, and getting in compliance with changing regulations from the Department of Housing and urban development (hud) than with the product [.]

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