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Banking & Finance

Wells Fargo Bank Mortgage Moves Downtown

By Jenny Callison, posted Apr 29, 2019
Wells Fargo Bank Mortgage moved to the Wells Fargo Bank building in downtown Wilmington at 300 N. Third St. (Photo by Will Page, courtesy of Cape Fear Commercial)
Wells Fargo Bank Mortgage in Wilmington has moved to new office space.
 
The Port City location, formerly at 1131 Military Cutoff Road at the entrance to The Forum, settled into quarters on the second floor of the Wells Fargo Bank building downtown at 300 N. Third St. earlier this month.
 
"It's nicer, more modern space," branch manager Rhonda White said. "It better suits our needs. And this location has higher visibility than the former location."
 
Enhanced technology has meant greater efficiency for Wells Fargo's mortgage lending process, White said. Her staff of fewer than 10 people can handle a greater loan volume in less time.
 
There is plenty of volume, according to Wells Fargo spokesman Josh Dunn.
 
"Business is good in Wilmington," he said. "We've seen an uptick [in mortgage demand]."
 
One major change is the ease of applying for a mortgage online, Dunn said, adding that currently, 34% of all applications for a Wells Fargo mortgage loan are made online.
 
Across the U.S. in 2018, 140,000 of the bank's mortgage loans were initiated online, and the approval-to-funding process was 18% faster than the traditional in-person loan process, Dunn said. A survey of online mortgage borrowers indicated that 70% were satisfied with the experience.
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