1 Articles match "Bank Owned","Houses","Wells Fargo"
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Stumbling Subprimes Spell Opportunity
Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. It’s a downward spiral that threatens to suck down the entire housing market. Even if they don’t plan to buy immediately, The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. This bottom-line reality is forcing many lenders to tighten their
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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The Best from RealtyTrac
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MORE
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Stumbling Subprimes Spell Opportunity
Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. It’s a downward spiral that threatens to suck down the entire housing market. Even if they don’t plan to buy immediately, The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. This bottom-line reality is forcing many lenders to tighten their
www.foreclosurepulse.com
- Tuesday, December 16, 2008
