Good News for the Real Estate Market: Wells Fargo exceeds revenue-

Good News for the Real Estate Market: Wells Fargo exceeds revenue-

Wells FargoEarly Wednesday during the Wells Fargo earnings announcement something completely unexpected took place. POSITIVE EARNINGS form a Mortgage Lender!

“Wells Fargo & Company reported diluted earnings per common share of $0.53 for second quarter 2008 compared with $0.60 in first quarter 2008 and $0.67 in second quarter 2007. Net income was $1.75 billion compared with $2.00 billion in first quarter 2008 and $2.28 billion in second quarter 2007. The Company also announced a quarterly common stock dividend of 34 cents per share, up 10 percent from the previous dividend of 31 cents per share.

“Wells Fargo continued to strengthen its franchise during the second quarter…” said President and CEO John Stumpf.

This may represent a change in the market; meaning there is a Home lender willing to do the unthinkable right now. Lend Money!

Subscribe to our daily mortgage market emails.

Have a Question?

Legal Disclaimer
Or give us a call
925-484-5363