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Wells Fargo Mortgage Income Surges, Reflects Stabilizing Housing Market

Fri, 2012-07-13 09:42 — Mortgage News Ticker

Wells Fargo says it beat estimates for quarterly profit on a spike in mortgage income, suggesting signs of a stabilizing housing market.

Net income was $4.6 billion, 82 cents a share, from $3.9 billion, 70 cents a share, a year earlier. Analysts expected Wells Fargo, the fourth largest U.S. bank and biggest mortgage lender, to earn 81 cents a share...

 

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