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Home » Store » Personnel » ‘High Pressure’ Wells Fargo Put on Retail Bankers Wasn’t Exactly Evident in the Mortgage Unit

‘High Pressure’ Wells Fargo Put on Retail Bankers Wasn’t Exactly Evident in the Mortgage Unit

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Wells Fargo – no doubt – is taking it on the chin for its “account fabrication” scandal tied to credit cards and deposits, but so far the damage has yet to seep into its mortgage business in a major way, but reports suggest certain correspondents are balking at doing business with the megabank. Dave Akre, managing director of Five Oaks Investment Corp., said he knows some loan officers working for Wells correspondents who are no longer offering the megabank’s jumbo products “due to recent issues.” Those “issues,” he pointed out in an interview with Inside Mortgage Finance, involve...
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