Wells Fargo Exits Canadian Mortgage Market

Date: Thursday, July 30th, 2009

Effective July 30th, 2009, Wells Fargo will no longer be originating new mortgages in Canada, according to a recent press release from company president, Rick Valade.

It will still be honouring any existing Canadian mortgages as well as old and new personal loans, but that’s about it. According to the press release:

“Please treat this writing as notification of immediate cancellation of any mortgage broker origination agreement or other real estate lending agreements you may have with Wells Fargo Financial Corporation Canada or Wells Fargo Financial Corporation Canada HomePlan Mortgage.”

Lawrence Kobescak

Lawrence Kobescak

Lawrence Kobescak, the creator behind OntarioMortgageSuperstore.com is a real estate sales representative, mortgage agent and real estate investor. OntarioMortgageSuperstore.com has reached over 240,000 Canadians since 2009. Lawrence has been quoted in the Globe & Mail and MortgageBrokerNews.ca.

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