Bloomberg News

Wells Fargo Chief Says Distressed Homes Should Become Rentals

October 21, 2011

Oct. 21 (Bloomberg) -- Wells Fargo & Co. Chief Executive Officer John Stumpf said the housing market could be unclogged by converting distressed properties into rentals.

Credit is getting better “across the board,” Stumpf, whose San Francisco-based company is the biggest U.S. home lender, told Maria Bartiromo on CNBC today.

To contact the reporter on this story: Maryellen Tighe in New York at mtighe6@bloomberg.net

To contact the editor responsible for this story: Rick Green at rgreen18@bloomberg.net


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