TITLE

Wells Encourages Borrowers to Pay Down Mortgages with Reward Points

AUTHOR(S)
Berry, Kate
PUB. DATE
June 2013
SOURCE
American Banker;6/ 6/2013, Vol. 178 Issue 87, p9
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports mortgage lender Wells Fargo plans to market a credit card that lets the company's customers use their reward points to pay down a mortgage. The Home Rebate Card, introduced in 2007 to new borrowers, has been used to pay down about $50 million in mortgage principal, according to Wells Fargo executive Beverly Anderson. The article notes Wells Fargo plans to offer the cash-back card to customers who already have mortgages.
ACCESSION #
88043396

 

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