Is Wells Fargo getting back into subprime mortgages? Yes
Is Wells Fargo getting back into subprime mortgages? Yes:
Wells Fargo is once again setting sail on subprime mortgage waters, despite how choppy they were several years ago. The bank will now consider mortgage applicants with credit scores as low as 600.
The “We didn’t learn anything edition:” Wells Fargo returns to subprime mortgages. The bank, which absorbed Wachovia, a company nearly destroyed by subprime lending, will consider mortgages to those with 600-649 credit scores (the official subprime range). Reports also state that lending is considered to those whose credit score is as far down as 500. Terrifying.
