By: Economic & Finance Report
Wells Fargo is scaling down it’s mortgage business. The slashing of services from its mortgage division has to do with the direction of the overall economy. This includes the current status of inflation and the backing up of the global supply chain, that goes along with it.
With factors imploding within the economy, Well Fargo has indicated that the mortgage business will have to be reduced; as well as the closing of many of its bank branches. -SB
Image Source: The New York Times