Wells Fargo & Co. is said to be auctioning off a $65 million portfolio of sub- and nonperforming residential loans and is set to take final bids next week.
"They've been offering a lot of stuff lately," said one bidder requesting his name not be used. There is more to come, he said. At press time a company spokesman had not returned a telephone call about the auction.
In the past the bank has rarely commented on its offerings. A few years back Wells Fargo Home Mortgage was one of the largest correspondent buyers of subprime loans but eventually exited that business.
