Wells Fargo To Stop Giving Home Loans To Whites And Focusing On Funding To Minorities Communities!

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Wells Fargo, once the No. 1 player in lending out mortgages, announced it was taking a step back from its previous goal of reaching as many Americans as possible. Instead, it will now focus on home loans for existing bank and wealth management customers — and borrowers in minority communities.

The financial services company highlighted its plans to leave the “Correspondent business with plans to reduce the size of its Servicing portfolio.” The bank will focus its Home Lending business to “individuals and families in minority communities.”
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