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News Briefs

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Moody’s Investors Service increased its assessment of Wells Fargo’s jumbo-mortgage property valuation practices from above average to strong. The rating service said the improvement was due to Wells no longer having an ownership interest in one of the appraisal management companies used by the bank. “During the prior review, Wells had an equity interest in an AMC which received approximately 90 percent of the appraisal orders,” Moody’s said ... [Includes two briefs]
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