Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated

Bloomberg, Aug. 14, 2022–Hannah Levitt
Wells Fargo & Co. plans to shrink its vast mortgage empire, which once churned out one of every three home loans in the US and for a time made the bank the most valuable in the nation. No longer committed to ranking No. 1 in the business, Wells Fargo’s leadership is preparing a retreat that will probably start with the bank’s ties to outside mortgage firms that generated roughly a third of its $205 billion in new home loans last year.
https://www.bloomberg.com/news/articles/2022-08-14/wells-fargo-to-cut-back-mortgage-business-after-scandals-take-toll#xj4y7vzkg