Wells Fargo originated $48.1 billion worth of mortgages in the fourth quarter, down from $51.9 billion in the previous quarter.
The bank’s mortgage lending gain on sale margin — the earnings stemming from its originations — tumbled from 204.5 basis points in the third quarter of 2021 to 162.16 basis points in the fourth quarter. A year ago this time, Wells Fargo’s gain on sale margin was 215.96.
In the fourth quarter, the depository’s retail business originated $32.8 billion in mortgages, a decrease from its $35.2 billion in retail originations in the third quarter. The bank’s correspondent leg also originated less than details ⇒
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