Inside Mortgage Finance has said that Wells Fargo (NYSE:WFC) is leading the US as the largest mortgage originator.
Wells Fargo Tops Mortgage List
Inside Mortgage Finance has reported that Wells Fargo (NYSE:WFC) made 32.4 percent of the total mortgages in the second quarter to become the largest US mortgage originator.
However, its share slipped 1.5 percent lower than the previous quarter.
The bank’s mortgage income increased as homeowners refinanced at low interest rates.
Guy Cecala, Inside Mortgage Finance publisher, said, “Wells Fargo (NYSE:WFC) has a huge lead over other lenders, but the notion that they would take it from 30 percent to 40 percent was a little over optimistic”.
Wells Fargo (NYSE:WFC) stocks were at 33.23 at the end of the last day’s trading. There’s been a 0.5% change in the stock price over the past 3 months.