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Purchase Mortgage Business Doing OK

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October 14, 2013 – Comments (4) | RELATED TICKERS: WFC

Wells Fargo's recent earnings report was a good excuse for a quick SWOT - Strengths, Weaknesses, Opportunities and Threats - analysis.

Since Wells is the nations leading mortgage lender, it's also a good chance to see how that business is doing.  Higher rates have crimped refinance activity, but the purchase mortgage business is holding up ok, at least so far.

Fool on!  Russ

Disclosure:  Long WFC

4 Comments – Post Your Own

#1) On October 14, 2013 at 8:59 PM, awallejr (81.17) wrote:

Of the major lending centers I prefer WFC the most (even over JPM).  However WFC did decide to withdraw using mortgage brokers so loan originations have and will continue to be under pressure. They, BAC and JPM continue to be pains to deal with too.

Personally I prefer the BDCs over the major banks.  I think Dodd-Frank will have a greater negative impact on profitability for larger lending centers.

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#2) On October 15, 2013 at 7:30 PM, HarryCaraysGhost (99.71) wrote:

Personally I prefer the BDCs over the major banks. 

Which BDC's do you prefer? Been studying this space for the dividends.

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#3) On October 15, 2013 at 8:01 PM, awallejr (81.17) wrote:

Well I own PSEC, ARCC, AINV (that is a good one for low cost with increased distribution expectations over the next few years).  Might check out the asset managers like KKR.  I did give a put play for them and BX.  NCT as a reit for senior living space.  Just to name a few.

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#4) On October 16, 2013 at 10:12 PM, awallejr (81.17) wrote:

Also hoped you followed any of my BBEP plays.  It is still a good buy under $20. 

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