Wells Fargo CFO: Accounts scandal hit our #mortgage referral business

Referrals accounted for approximately 9% of #mortgage originations in 2016, Wells Fargo CFO Tim Sloan said during an earnings call. He added that the bank expects lower referrals in the fourth quarter will reduce funding volumes in the first quarter by approximately 2.5%. http://www.housingwire.com/articles/38955-wells-fargo-cfo-accounts-scandal-hit-our-mortgage-referral-business ❤️ #share #mortgage