Wells Fargo Portfolio Lending?

[Matt F.]

came across this article and was surprised by it. Basically it says Wells Fargo offers some  portfolio lending in those circumstances where a seemingly qualified borrower or the type of loan doesn't meet fannie / freddie guidelines.  Does anyone know if this is true or is there anyone out there who has done a portfolio loan from Wells?  

link to the article is below

http://www.nationalmortgagenews.com/news/originati...

[Chris Mason]

@Matt F., I can and do broker to Wells from time to time, but they are a bunch of complete idiots that  probably hire underwriters directly from the unemployment line adjacent to the trailer park. Regardless of where there interest rate pricing is on a given day, the ONLY time I send them business is when it's a refi AND it's ok if the refi closes in >90 days. 

0% of my purchase business goes to Wells, even on those (rare) occasions where they are trying to buy the market and have the best interest rate pricing. 

I will give you an example of why that bank is worthless to a mostly purchase-focused lender such as myself.

• 2014 tax returns say she is single and her name is Jane Smith.
• 2015 tax returns say she is married to John Doe and that her name is now Jane Doe with the same social security number that Jane Smith formerly had. 
• Throughout the course of 2015, her bank statements, W2s, paystubs, etc, started reflecting a new last name. Gee, I wonder what happened. 
• YOU IDIOTS ARE GOING TO CONDITION FOR A SIGNED LETTER ON WHY HER NAME CHANGED, DOCUMENTED PROOF OF HER NAME CHANGE, AND MAKE ME WAIT 5 DAYS IN QUEUE TO HAVE IT REVIEWED?! (This is why I think they hire underwriters from the unemployment line next to the trailer park... never heard of marriage, apparently, and it takes 5 business days to contemplate the concept that a woman might get married and change her last name)
• Yup... no. Wells Fargo, you are fired.