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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.”
Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in an attempt to mirror what I do. Investments may decline in value and/or disappear entirely. Please be careful!
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