All the major banks Wells
Fargo, Bank of America, Chase, Citigroup, etc. have minimum credit score
requirements. When you apply for a mortgage at a major bank and they tell you their
minimum credit score requirement is 640. This does not mean that it's the minimum credit score to qualify for a mortgage. It means that they are the bank's minimum credit score requirements.
After the financial crisis of 2008 all the major banks raised their standards for approving loans they will refinance. Because the banks make the rules for loans they will approve they may require a minimum credit score of 640 for their loans. These guidelines are the bank's guidelines.
What this means is that all the major banks including Wells
Fargo, Bank of America, Chase, Citigroup, etc. banks make the rules for the loans they approve.
Mortgage World Home Loans, L.L.C.
326 Ramapo Valley Road
Oakland, NJ 07436
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Nationwide Mortgage Licensing System ID 499903
Florida License Number - MBR1007
Licensed in the State of Florida.