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Wells Fargo's recent home-equity missteps, combined with the worsening housing market, make it appear unlikely that the bank can avoid a tough year ahead as it builds reserves for bad loans.
Wells Fargo & Company is a specialized financial services company based in San Francisco, and is a provider of insurance, mortgage, investments, banking, consumer finance catering to more than 23 million customers across the United
Wells Fargo & Company is a specialized financial services company based in San Francisco, and is a provider of insurance, mortgage, investments, banking, consumer finance catering to more than 23 million customers across the United
Wells Fargo is the second largest mortgage lender and also the 5th largest U.S. Bank. Wells Fargo said that it was going to take a $1.4 billion charge because of the losses on home equity loans.
It is becoming increasingly difficult in the current housing market to find good mortgage rates. For example, if you apply for a wells fargo home equity loan with bad credit, you will have a much harder time getting a good mortgage rate now than even a few months ago.
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