Wells Fargo could earn higher profits in mortgage market

10/20/2011 | Bloomberg

Many of Wells Fargo's rivals are reining in their mortgage lending, presenting the bank with an opportunity. In the third quarter, Wells Fargo originated more mortgages than JPMorgan Chase and Bank of America combined. "When you think about being able to grow our mortgage business today, it's a huge opportunity for us," said Wells Fargo Chief Financial Officer Timothy J. Sloan.

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