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Wells Fargo pulls out of correspondent lending

The company will also be reducing its servicing portfolio.

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Wells Fargo pares back mortgage operations to focus on existing customers (NYSE:WFC)

As interest rates rise and demand for mortgages declines, Wells Fargo (WFC) said Tuesday it will exit the Correspondent business and reduce the size of its Servicing portfolio in order.

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Wells Fargo closes correspondent biz, will shrink servicing portfolio

Wells Fargo is exiting the correspondent mortgage channel and shrinking its servicing portfolio, the bank announced on Tuesday.

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Wells Fargo Announces Large-Scale Withdrawal From Mortgage Market

A long-expected move, the bank appears to have abandoned its once lofty position in the home lending sector.

Kleber santosKristy ferchoConsumer financial protection bureauPurpose credit programWells fargoNational urban leagueConsumer lendingConsumer financial protectionHome lending businessHome lendingDiverse segmentsSpecial purpose credit program

2 Stocks Dealing With Housing Market Fallout

Markets rallied sharply on Wednesday, but the outlook still is cloudy for companies with exposure to residential real estate.

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