Archive for October, 2007
Wells Fargo Whacks Brokers Again on Jumbo Loans
Wells Fargo continues to show its disdain for jumbo loans originated by brokers by putting in another excessive fee hike for all jumbo loans originated by brokers. The interesting thing about the fee hike is the LTV range is between 80-90% which show an increased sensitivity to the declining home prices seen around the country.
From [my] Wells Fargo [rep]:
Jumbo loans with a cltv between 80.01% - 89.99%
Pricing adjuster is going from .500 to 1.500 to the fee
You have until 5pm today to lock at the lower fee
What do you think?