Page Body

Page Main

Post Main

Post Article

Living With Parents

Just last week we reported that Wells Fargo was reintroducing 3% down mortgages on its own, without going through the FHA. The reason we said, was that due to Wells' mortgage origination pipeline drying up, the bank was desperate to find new and innovative ways to boost lending.

Now we have direct confirmation that indeed Wells Fargo is desperate, and the plan to boost mortgage lending is to... drum roll... lure millennials out of the comfort of their parents home and into a house of their own.

The fact that millennials don't make much money and are drowning in debt apparently doesn't bother Franklin Codel, head of home lending for the bank.

Paul Ciano

Enjoyed this post?

Let me know you appreciate it by signing up for my newsletter.