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Wells Fargo finance chief says mortgage lending slowing

Wells Fargo & Co. Chief Financial Officer Tim Sloan said Wednesday that mortgage lending continues to slow as the pace of financing home purchases doesn’t fully offset a slowing in refinancings of existing mortgages, the San Francisco Business Times reported.

The bank is making one-third of the nation’s mortgages, making it by far the dominant player in home financing. So all eyes are on how the bank’s substantial mortgage business is faring. The bank’s recent conference calls with investors at times seem to be a game of how many different ways analysts can ask about the strength of mortgage lending.


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