112: Is Wells Fargo really backing out of the mortgage industry?

Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The  bank announced a significant shift on Tuesday to focus its mortgage business on serving bank customers and minority homebuyers instead of acquiring new customers...  Wells Fargo said it will also exit its correspondent business, which buys loans made by other lenders, and reduce the size of its mortgage servicing portfolio.

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