Reuters first to report Wells Fargo beefs up mortgage division to cope with higher volumes

Reuters broke the news that Wells Fargo & Co is boosting its teams that process mortgage loans to prepare for higher mortgage volumes, changing course after it laid off about 1,000 employees in the division in 2018. Citing an internal company memo, she reported that many of the hires will be in Des Moines, Iowa and Minneapolis, and that the about-face comes as banks brace for a surge in mortgage activity fueled by lower interest rates.