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Friday, February 16, 2007

Wells Fargo and Subprime Loans

by Calculated Risk on 2/16/2007 02:48:00 PM

From Credit Suisse Financial Services Forum, "[Banks are] Bracing for a challenging year of EPS growth due to tepid net interest income growth and rising credit losses..." and Wells Fargo President and Chief Operating Officer John Stumpf amde it clear that "roughly 72% of the mortgage originations attributed to Wells Fargo Financial in the league tables for the 1H06 were co-issue originations."