Next Level Loan Officers

Wells Fargo Credit News: How it impacts your borrowers!

July 15, 2021 Next Level Loan Officers Season 1 Episode 117
Next Level Loan Officers
Wells Fargo Credit News: How it impacts your borrowers!
Chapters
Next Level Loan Officers
Wells Fargo Credit News: How it impacts your borrowers!
Jul 15, 2021 Season 1 Episode 117
Next Level Loan Officers

On this episode David Luna of MEC sits with Sean and Kellen to discuss how the Wells Fargo Personal Line of Credit news can impact your borrowers. David also discusses the market outlook and the opportunities that Loan Officers have in front of them right now. 

2:30 Market outlook

5:35 Wells Fargo Personal Line of Credit

12:32 MEC

Quotes:

“Wells Fargo’s closure of personal line of credit could hit people’s credit scores by 50 to 60 points.”

“The industry needs to be more proactive with the fallout of Wells Fargo’s closure of personal lines of credit.”

“In 2023 you will need to fasten your seatbelts because it is going to be a crazy year in the market.”

Key Takeaways:

Rates are likely to be lower going into the fall. 

Pay attention to borrowers who have a Wells Fargo personal line of credit, as credit scores and DTI will be affected. 

Take this opportunity to become an expert on the Wells Fargo news to advise your clients. 

Links:

Next Level Loan Officers - www.BecomeNL.com

Loan Officer Events - loanofficerevents.com

Next Level Coaching Call - https://nl.nextlevello.com/schedule-consultationebk1Ea8h 

Social Media:

Facebook - https://www.facebook.com/NextLevelLoanOfficers/

YouTube - https://www.youtube.com/channel/UCwSyHzkvBri1YWJSH7df1CQ

LinkedIn - https://www.linkedin.com/company/next-level-loan-officers/about/

Text the word: nextlevel to 36260 to download our app

Show Notes

On this episode David Luna of MEC sits with Sean and Kellen to discuss how the Wells Fargo Personal Line of Credit news can impact your borrowers. David also discusses the market outlook and the opportunities that Loan Officers have in front of them right now. 

2:30 Market outlook

5:35 Wells Fargo Personal Line of Credit

12:32 MEC

Quotes:

“Wells Fargo’s closure of personal line of credit could hit people’s credit scores by 50 to 60 points.”

“The industry needs to be more proactive with the fallout of Wells Fargo’s closure of personal lines of credit.”

“In 2023 you will need to fasten your seatbelts because it is going to be a crazy year in the market.”

Key Takeaways:

Rates are likely to be lower going into the fall. 

Pay attention to borrowers who have a Wells Fargo personal line of credit, as credit scores and DTI will be affected. 

Take this opportunity to become an expert on the Wells Fargo news to advise your clients. 

Links:

Next Level Loan Officers - www.BecomeNL.com

Loan Officer Events - loanofficerevents.com

Next Level Coaching Call - https://nl.nextlevello.com/schedule-consultationebk1Ea8h 

Social Media:

Facebook - https://www.facebook.com/NextLevelLoanOfficers/

YouTube - https://www.youtube.com/channel/UCwSyHzkvBri1YWJSH7df1CQ

LinkedIn - https://www.linkedin.com/company/next-level-loan-officers/about/

Text the word: nextlevel to 36260 to download our app