Wells Fargo adding to mortgage loan processing teams

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(Reuters) – Wells Fargo & Co (N:) is adding to teams that process mortgage loans to prepare for higher mortgage volumes, according to a memo viewed by Reuters shows.

Banks are anticipating a surge in mortgage activity fueled by lower interest rates.

The hiring initiative is a change in course for Wells Fargo, the largest U.S. mortgage originator, according to Inside Mortgage Finance, which has laid off hundreds of employees in its mortgage division in recent years.

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