Wells Fargo To Close Edward Jones Mortgage

Posted by Orb Staff on February 15, 2013 No Comments
Categories : Residential Mortgage

13308_wellsfargo Wells Fargo To Close Edward Jones Mortgage Wells Fargo & Co. and the St. Louis-based investment firm Edward Jones are dissolving Edward Jones Mortgage, a joint venture they created in 1998.

The Minneapolis Star-Tribune reports that the venture's office in St. Louis Park, Minn., is expected to close on April 12. Wells Fargo, which did not announce the closure on its website, sent out a media statement saying the decision came ‘after careful analysis of market conditions and the impact of the regulatory environment on business.’

Edward Jones Mortgage employs 210 people, and it is unclear whether they will be offered employment with either Wells Fargo or Edward Jones.

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