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Wells Fargo profit slides on home equity loss (Washington Post)
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NEW YORK (Reuters) - Wells Fargo & Co (
WFC.N
), the No. 2 U.S. mortgage lender, said on Wednesday fourth-quarter profit fell 38 percent, the first decline in more than six years, as more people missed payments on mortgages and home equity loans. |
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Wells Fargo & Co.'s first-quarter profit fell 11 percent as the nation's fifth-largest bank wrestled with rising loan losses and braced for more trouble ahead. |
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Wells Fargo & Co.'s first-quarter profit fell 11 percent as the nation's fifth-largest bank wrestled with rising loan losses and braced for more trouble ahead. The San Francisco-based company said Wednesday that it earned $2 billion, or 60 cents ... |
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Wells Fargo & Co , the No. 2 U.S. mortgage lender, said on Wednesday fourth-quarter profit fell 38 percent, the first decline in more than six years, as more people missed payments on mortgages and home equity loans. |
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Wells Fargo & Co. posted a steep drop in fourth-quarter earnings after setting aside $1.4 billion in loan-loss reserves for expected future losses in its home equity portfolio. |
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