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> instead showing it as a signal that one of the largest mortgage providers in the world is worried about future home/land values. While that's one possible re
by troydavis 6y ago
> instead showing it as a signal that one of the largest mortgage providers in the world is worried about future home/land values.
While that's one possible reason for this decision, there are other possible reasons. For example, they may not know how future "payment suspensions" will be handled (https://update.wf.com/coronavirus/home-lending/ https://update.wf.com/coronavirus/home-lending/), may not like it (particularly with HELOCs that they keep on their books, unlike most mortgages), and/or may not want the reputation damage or headache of foreclosing on collateral (even if it would cover the debt). Any of those could completely explain this.
- pge 6y agoI agree - I see this as much more of a comment on consumer credit-worthiness than on home/land values.