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Volume 2017 - Number 45

November 22, 2017

Wells Fargo’s Termination of Consumer/Mortgage Chief Shows Executives Are on a Short Leash

The sudden firing late last week of Wells Fargo’s consumer and mortgage chief Franklin Codel for an unspecified personnel matter sent a clear message to the executive ranks of the company that it will not tolerate any behavior that puts the firm in a negative light.

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A weekly "must read" for industry executives. Thoroughly covers regulatory, political, legislative and market issues in the residential mortgage business.

 

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%