Mortgage Origination JVs Prepare for Life After Wells Fargo; Megabank Blames Exit on Dodd-Frank
August 1, 2013
When Wells Fargo recently pulled the plug on its remaining loan-production joint ventures, it downplayed the significance of the move, explaining that in the scheme of things these unique partnerships mostly with real estate companies account for just 3 percent of its total production. But for some of the eight JVs that were shoved aside, it could be a big deal because it means they may now have to find either a new partner or raise additional capital. Still, not all of the JVs are fretting...