Wells Fargo to reduce mortgage servicing, exit correspondent business By Reuters


© Reuters. FILE PHOTO: A man uses an automated teller machine (ATM) at a Wells Fargo Bank branch on a rainy morning in Washington January 17, 2012. REUTERS/Gary Cameron

(Reuters) – Wells Fargo (NYSE:) said on Tuesday the bank is exiting the Correspondent business and plans to reduce the size of its Servicing portfolio to sharpen its focus towards its mortgage business.

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