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Wells Fargo Closes Book on Reverse Mortgages with Final Servicing Transfer

Wells Fargo Closes Book on Reverse Mortgages with Final Servicing Transfer

Once the largest lender in the reverse mortgage industry, the San Francisco-based Wells Fargo shuttered its origination channel in 2011, citing the then-unstable economic climate. The banking giant had a 26.2% market share at the time, with a total of 16,213 endorsements in 2010.

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