Banks Fire Up Their Mortgage Machine for a Refinancing Boom
Bloomberg, Aug. 29, 2019–Hannah Levitt, Claire Boston
Lenders thought it was time to shrink their mortgage businesses. Now they’re finding they were wrong. With rates for home loans sinking to their lowest levels since late 2016, Wells Fargo & Co., the biggest mortgage lender in the U.S., has boosted staffing for the business by about 10% this year and plans to keep hiring. Bank of America Corp. is hiring in areas including sales, processing and underwriting.
