Wells Fargo says it will no longer accept applications for home equity lines of credit
Chris Helgren | Reuters
Wells Fargo, one of the largest home lenders in the U.S., said it it stepping away from the market for home equity lines of credit because of uncertainty tied to the coronavirus pandemic.Wells Fargo Home Lending will temporarily stop accepting applications for all new home equity lines of credit after April 30.
The temporary suspension of HELOC applications will continue until our analysis of market conditions indicates that it is appropriate to resume the responsible extension of HELOCs to homeowners.
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