Wells Fargo & Co. (WFC), the largest U.S. home lender, has assigned about 400 underwriters to originate mortgages for the bank to hold, with as many as 40 percent of those loans likely to fall outside government guidelines taking effect this week.
The bank is training the group as a way to increase lending without losing control of quality, according to Brad Blackwell, head of portfolio lending for the San Francisco-based lender.
via Wells Fargo Creates SWAT Team to Keep Loans In-House: Mortgages – Bloomberg.
DO YOU HAVE THE "WRITE" STUFF? If you’re ready to share your wisdom of experience, we’re ready to share it with our massive global audience – by giving you the opportunity to become a published Contributor on our award-winning Site with (your own byline). And who knows? – it may be your first step in discovering your “hidden Hemmingway”. LEARN MORE HERE