Does Wells Fargo Offer Mortgage Life Insurance?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaWells Fargo advertises mortgage insurance or private mortgage insurance, through a third party life insurance company. Mortgage insurance is generally required when the down payment is insufficient for the banking institution to protect their perceived market exposure and is usually paid through the escrow account that manages the mortgage payment.Answered on May 11, 2013+01+1 this answer
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250 POINTSview profileCarl BusseauRoseville, CAWells Fargo (the bank) does not offer/underwrite life insurance as they are a bank. They do, however, have an agreement with at least one life insurance company that underwrites policies that are solicited through Wells Fargo. Meaning, Wells Fargo makes money by passing on information of their new mortgagees to insurance companies and agencies as an extra revenue source. It also broadens their product offering. If you google "wells fargo term life insurance" and you read the fine print it will say the name of a life insurance company in there.Answered on March 5, 2014flag this answer
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