Wells Fargo Home Mortgage, Des Moines, Iowa, has decided to "temporarily suspend" the purchase of nonconforming mortgage loans through its wholesale channel. The move was effective on Jan. 5. A statement from a company spokesman said "Wells Fargo has long been the nation's No. 1 retail mortgage lender and a leading third-party lender. Due to low market demand and higher risks, we have decided to temporarily suspend nonconforming product offerings through our wholesale channel."
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