The Ticker
Wells Fargo mortgage lending volume remains sluggish
2/13/13 2:03pm
Wells is the largest U.S. mortgage lender, and investors have been concerned lately about whether the bank can sustain profits spurred by a boom in mortgage refinancings at low interest rates.
Sloan reiterated that the bank still has a "good opportunity" to refinance eligible homeowners in its $1.9 trillion mortgage servicing portfolio. The bank also has experience in cutting costs when mortgage volume drops off, he said.
