Wells Fargo expects drop in mortgage originations

NEW YORK (MarketWatch) — Wells Fargo & Co. /quotes/zigman/239557/quotes/nls/wfc WFC -0.75% is expected to post a decline in mortgage originations in the third quarter and will continue to cut jobs, according to a report in The Wall Street Journal. Chief Financial Officer Tim Sloan said the bank expects about $80 billion in third-quarter mortgage originations, compared to $112 billion in the second quarter. Well Fargo has eliminated 3,000 positions since July and will continue to cut jobs, he said in remarks at an analyst conference Monday. Wells Fargo shares were down 0.7% in recent trade.

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One Response to “Wells Fargo expects drop in mortgage originations”

  1. Lala says:

    Are you located in MA? Or did you just get the pirtcue somewhere else? I actually live in Berkshire County, MA where that pic is from and was surprised to see it!I thorougly enjoyed this entry, so much so, that I actually shared a link to your blog and also used that quote from Berry on Cummins hope you don’t mind! Thanks!

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