Wells Fargo Is Next Bank To Dump Reverse-Mortgages

Wells Fargo is the next bank to announce that they are pulling out of the market of selling reverse-mortgages, a loan typically sold to to seniors that converts their home equity into a stream of monthly payments. The lender gets paid when the home is sold at the borrower's death or when they move. Without reliably rising home values, it's not a very profitable proposition for lenders.

More »