Mortgage lending should continue to decline, Wells Fargo CFO says
Thursday, February 14, 2013 2:56 PM
Mortgage lending will likely continue to decline as an increase in mortgages for home purchase fails to offset a slowdown in refinancings, Wells Fargo & Co. Chief Financial Officer Tim Sloan said yesterday.
According to Reuters, Sloan reiterated that the bank still has a "good opportunity" to refinance eligible homeowners in its $1.9 trillion mortgage servicing portfolio. Wells Fargo is the largest U.S. mortgage lender.