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News Summary: Mortgages propel Wells Fargo

By The Associated Press
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ALL ABOUT MORTGAGES: Mortgages originations more than doubled from the year before, to $131 billion from $64 billion, confirming Wells Fargo’s dominance in home lending.

THE DOWNSIDE: The bank’s large mortgage business carries its own risks. Wells Fargo added $669 million to its reserve for buying back soured mortgages. It added $242 million in the same period a year ago.

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