Wells Fargo & Co , the largest U.S. mortgage lender, said on Thursday it will temporarily stop accepting applications for home equity loans given the economic uncertainty fueled by the COVID-19 pandemic.
FILE PHOTO: Warning signs for coronavirus disease are seen on a Wells Fargo bank door in New York City, U.S., March 19, 2020. REUTERS/Lucas Jackson/File Photo
The suspension will stay in place until bank executives have better sense into what the economic recovery will look like, bank spokesman Tom Goyda said in a statement. Earlier this month, Wells Fargo raised its minimum credit score for home equity loans to 720 from 680.
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