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While Fannie and Freddie do not want to raise the conforming loan limit above $417,000, It seems Wells Fargo is liking the HARD MONEY.
In fact, Wells Fargo is the nation largest sub-prime lender above Ameriquest and New Century Funding (both of Orange county California).
It appears the institution does not plan to churn and burn, but actually educate. In fact, it has announced plans to teach financial education to these less than credit worthy borrowers.
The strategy will allow Wells to cross sell these borrowers into other financial products that Wells Fargo recommends.
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