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Wells Fargo Reports Decline in 4Q Originations, Higher Income

JAN 11, 2013 10:19am ET

Wells Fargo reported a 10% decline in mortgage originations in the fourth quarter but mortgage banking income was up 9% from the third quarter.

Single-family originations totaled $125 billion in the fourth quarter, compared to $139 billion in the third quarter, the nation’s largest mortgage lender reported Friday morning.

HARP refinancings comprised 12% of originations, down from 14% in the third quarter.

Wells Fargo had $81 billion in mortgage applications at yearend, down 16% from the last quarter.

Mortgage banking income total totaled $3.1 billion in the quarter, up 30% from a year ago.