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Wells Fargo Focussing on Lending to Builders

August 16, 2012 — CDJ Staff

Few banks are currently lending to builders, a lingering effect of the financial crisis which saw small banks fail due to bad construction loans. The Wall Street Journal reports that Wells Fargo is starting a division that will be making loans to regional and midsize builders. Bird Anderson, who will be heading the division, told the Journal that “in essentially every market we looked at this spring, we saw very real, very tangible pockets of demand.”

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Wells Fargo Focussing on Lending to Builders