Wells Fargo & Co. will re-enter the private-label residential mortgage-backed securities market with a planned offering of a $441 million bond tied to U.S. home loans without government backing, Bloomberg Quint reported, citing "people familiar with the matter."
The sale of the non-agency bond, which will be the company's first post-crisis mortgage bond, is reportedly expected to be finalized during the week of Oct. 8. The bond will include top portions, which will get an AAA rating, the sources told the news service.