Wells Fargo is reducing the size of its home-mortgage business
Wells Fargo said late Tuesday it was shrinking its home-mortgage business, aiming to serve its own bank customers as well as people in “minority communities.”
The stock edged lower in the extended session after ending the regular trading day down less than 0.1%. Mortgage is “an important relationship product,” hence the decision to continue to be a lender to Wells Fargo bank customers as well as minority home buyers, Kleber Santos, chief executive of consumer lending, said.
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