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Bank of America Corp, Citigroup Inc.: Will Slowing Mortgage Volumes Hurt Bank Stocks?

Thu, 2013-02-14 07:40 — Mortgage News Ticker

One of the biggest factors spurring profits at many of the nation's largest banks appears to be under threat.

At a conference today, the CFO of Wells Fargo & Company (NYSE:WFC) , Tim Sloan, noted that domestic mortgage lending will likely decline in the quarters ahead as demand for refinancing tapers off and isn't replaced by purchase-money originations.

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