Wells Fargo & Co. substantially curtailed its program for making large loans this week, one of the most pronounced signs yet of how the recent market turmoil is cutting off access to some types of mortgages. America’s largest mortgage lender will only refinance jumbo mortgages for customers who hold at least $250,000 in liquid assets with the bank, according to a bank spokesman. The change is effective immediately.

Source: Wall Street Journal April 04, 2020 22:07 UTC