Wells Fargo & Co. is planning its first post-crisis offering of bonds tied to U.S. home loans without government backing, Bloomberg reported. The $441 million non-agency bond will include top portions, which will be rated AAA, and the sale will be finalized next week. Wells Fargo Chief Executive Officer Tim Sloan hinted over a year ago that the lender planned to originate a non-agency securitized mortgage offering in the near future and help kick-start the market, which cratered in 2008. Wells Fargo was one of the top issuers of private-label residential mortgage-backed securities in the run-up to the financial crisis. More than $1 trillion of mortgage bonds without government backing were issued in 2005 and 2006 each, according to Sifma.
