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All About Wells Fargo
The Wells Fargo bank has started Over 150 years ago, by Henry Wells and William G. Fargo company that has become a legendary part of America. is a financial services company in the United states and it has expanded its business in canada Northern Mariana Islands and the Caribbean. Its head quarters is located in Sanfrancisco, California. Wells fargo offers different financial services to their customers. Apart from these the company is acting as a stock brokers in retail
branches, and they are serving banking customers also. Not only these but the company works out in three main areas such as reatial banking, wholesale banking, consumer finance.
Retail Banking: In Retial banking there are segments such as commmunity banking, card services, consumer credit, consumer deposit groups. The customers who are very close to this company are provided with more services to purchase multiple products. Different packages are available to their customers in different form and various discounts are provoided by this company are:
1) "Wells Fargo Membership Account" which has tied to payroll direct deposit from a participating employer.
2) "Wells Fargo Advantage Account" is tied to balances in multiple deposit accounts, loans, or a home mortgage.
3) "Wells Fargo Portfolio Management Account" tied to balances in brokerage accounts, IRAs, deposits, and loans.
Wells Fargo also have around 400 stand alone mortgage branches throughout the country. It also does mortgage wholesale lending through independent mortgage brokers.
Wholesale Banking: In this products are sold to large companies and to thier customers on wholesale basis. In whole sale banking there are treasury management, mutual funds, asset-based lending, commercial real estate, and some investment banking. Wells Fargo historically has avoided large corporate loans, and insisted that borrowers purchase other products with loans. One area that is very profitable to Wells however is asset-based lending: lending to large companies using assets not normally used in other loans. The main brand name for this activity is "Wells Fargo Foothill", which regularly publishes tombstone ads in the Wall Street Journal. is the largest "real estate investment bank", which assists commercial property owners in obtaining funds in the capital markets, as opposed to direct lending by Wells Fargo itself.Wells Fargo has large private equity business, which is still remembered as the Norwest brand name. This was the most successful private equity company in 2003.
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Reviews |
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| Review By: |
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| Location: |
Eau Claire, Wisconsin |
| Type of Mortgage: |
Others |
| Date: |
01-08-2008 |
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| Summary |
Wells Fargo turned-out to be a lousy lender. Admittedly, I was late with a few payments, but Wells always got their money not long after the due date. Wells waited til my loan was 1/2 paid off before threatening to repo my vehicle. Wells cited 'late payments' as their justification (even though at that time I was all caught-up). They threatened legal fees (attorneys and court costs), the loss of my vehicle in repo, and to come after me for whatever balance they couldn't get from auctioning my vehicle (and the other vehicle that I used as loan collateral). I had to borrow $5000 from a relative to fend-off these blood-suckers, so that the loan was satisfied. Basically, Wells waited to go after two vehicles, the $6000 I already invested in loan payments, and they wanted anything outstanding for what they would get by auctioning the two vehicles..and attorney (in-house attorneys!) and court costs. After paying-off the loan, Wells acted like they were still my 'friend', and wished me well and offered future business to me. I will never borrow from these cancerous parasites again. . |
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