Industry News

Wells Fargo tightens home equity loan standards

$1.4 billion on losses expected on high-LTV loans
Published on Nov 28, 2007

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by CareyBot

Wells Fargo & Co. said it is tightening underwriting standards on home equity loans as it takes a $1.4 billion fourth-quarter write-down on loans originated through wholesale and correspondent channels. The San Francisco-based bank said it will no longer originate ...