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May 23, 2008
Wells Fargo Tightens Home Loan Policies
In response to rising defaults and changes in mortgage insurers' requirements and pricing, Wells Fargo & Co. is requiring higher credit scores on mortgages for 95 percent or more of the property value. Additionally, it will no longer permit cash-out refinancings for loans for 80 percent or more of the home value.
Posted by S. Germain at May 23, 2008 08:24 AM