Wells Fargo & Co , the largest U.S. mortgage lender, said on Thursday it will temporarily stop accepting applications for home equity loans given the economic uncertainty fueled by the COVID-19 pandemic.
FILE PHOTO: Warning signs for coronavirus disease are seen on a Wells Fargo bank door in New York City, U.S., March 19, 2020. REUTERS/Lucas Jackson/File Photo
The suspension will stay in place until bank executives have better sense into what the economic recovery will look like, bank spokesman Tom Goyda said in a statement. Earlier this month, Wells Fargo raised its minimum credit score for home equity loans to 720 from 680.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wells Fargo will no longer accept applications for home equity lines of credit
Read more »
Exclusive: Wells Fargo shifts energy bankers to focus on bankruptciesWells Fargo & Co has revived its special group for bad energy loans in recent weeks as the bank braces for more pain from the sharp downturn in oil prices, people familiar with the matter told Reuters.
Read more »
Wells Fargo will no longer accept applications for home equity lines of credit
Read more »
Exclusive: Wells Fargo shifts energy bankers to focus on bankruptciesWells Fargo & Co has revived its special group for bad energy loans in recent weeks as the bank braces for more pain from the sharp downturn in oil prices, people familiar with the matter told Reuters.
Read more »
Comcast is set to report earnings before the bellComcast has seen broadband usage spikes amid the pandemic that's kept Americans at home.
Read more »
Multiple Bodies Found in 2 Unrefrigerated Trucks Outside N.Y.C. Funeral Home amid Coronavirus CrisisThe owner of the funeral home allegedly told officials that their freezer had stopped working
Read more »