CHRISTINA REXRODE and DANIEL WAGNER
AP Business Writers

Business
October 15, 2012
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Profits soaring at nation’s biggest mortgage lenders

NEW YORK (AP) — Is the mortgage market really back? The country’s two biggest mortgage lenders, Wells Fargo and JPMorgan Chase, reported Friday that a surge in home lending pushed them to record profits. JPMorgan CEO Jamie Dimon declared that the housing market “has turned the corner.” Wells Fargo CEO John Stumpf said that “every quarter, we have more confidence.” Wells said it issued $139 billion in mortgages from July through September, compared with $89 billion in the same period last year. JPMorgan wrote $47 billion in mortgages, compared with $37 billion last year. There were signs, though, that the …

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The News-Review Updated Oct 22, 2012 10:25AM Published Dec 3, 2012 09:36AM Copyright 2012 The News-Review. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.