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Loan Mods at Wells Cutting Principal.

Source :
American Banker; 12/11/2009, Vol. 174 Issue F317, p11-11, 1/9p
Publication Year :
2009

Abstract

The article discusses that banking company Wells Fargo & Co. has cut the principal for delinquent modified loan borrowers. Wells is using strategies such as interest rate reductions, term extensions and interest-only loans to assist borrowers. Wells wants to help the most troubled customers and has offered principal discounts as high as 30 percent.

Subjects

Subjects :
MORTGAGE loans
ADJUSTABLE rate mortgages
INTEREST rates
BANKING industry customer services

Details

Language :
English
ISSN :
00027561
Volume :
174
Issue :
F317
Database :
Complementary Index
Journal :
American Banker
Publication Type :
Periodical
Accession number :
45707935

Tools

Authors Abstract Subjects Details