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Another ‘Subprime’ Adventure? Behind Wells Fargo’s Move To Ease Mortgage Lending

Wells Fargo & Co. announced this month it would reduce minimum credit scores for certain mortgages eligible for government backing, prompting some declarations that subprime mortgages were making a comeback.

After everything the mortgage industry has gone through, why would Wells Fargo want to go there again?

The short answer: It doesn’t.

Part of the issue is confusion over what actually constitutes a subprime loan. Unlike a prime mortgage, there isn’t a simple definition of a “subprime” loan.

via Wells Fargo’s Step To Loosen Mortgage Credit Isn’t Subprime Déjà Vu – Real Time Economics – WSJ.

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