Wells Fargo Exits Wholesale Reverse Mortgage

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Wells fargo quietly exits RM Wholesale Wells Fargo announced plans to cease offering reverse mortgages through their wholesale channel after March 18, 2011. The move comes as little surprise.

 · Wells Fargo Exits Reverse Mortgage Business. Fox Business. Citing the turbulent housing market, banking giant Wells Fargo (WFC) disclosed plans on Thursday to shut down its reverse-mortgage business, ending more than 20 years in the space.

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Wells Fargo Home Mortgage is getting out of the reverse mortgage wholesale production channel, a spokesman confirmed. However, it still will originate these loans through the retail channel. The Wells Fargo & Co unit will accept applications for the product from third-party originators through March 18.

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Using a Reverse Mortgage to Buy a Home Request additional information, schedule a showing, save to your property organizer.Wells Fargo exits wholesale reverse mortgage wells Fargo & Co. [stock WFC][/stock], as of this week, has suspended non-conforming mortgage product offerings through its wholesale channel, due to "low market demand and higher risks.A spokeswoman for Angela Corey.

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which have seen a variety of changes to the Home Equity Conversion Mortgage (HECM) program and the exits of big banks like Wells Fargo and MetLife from the reverse space. There have also been several.

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“All current Wells Fargo reverse mortgage borrowers will continue to be serviced and funds made available,” Bell said in a statement. Ditto those who had one with Bank of America. Why did Wells Fargo.

Wells Fargo is exiting the reverse mortgage business, according to a company press release. The San Francisco-based bank and mortgage.

15 years with this mortgage company, Wells Fargo – I haven’t receive any product or any sort of advertising from to response as business relationship, so I have not much to say. However, all I did.

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.