Relevant:
- Wells Fargo's Market Share of U.S. Mortgages Tops 33%
- Wells Fargo, JPMorgan Label More Junior Liens as Bad Assets
- Wells Fargo Financial Consolidates; 683 offices close, 3800 jobs gone
- Wells Fargo Surpasses JPMorgan to Become Biggest U.S. Bank by Market Value
- Mortgage Debacle Costs U.S. Banks $66 Billion as Bad Home Loans Sap Profit
2012-07-25 — bloomberg.com
Wells Fargo & Co. (WFC), the largest U.S. home lender, ranked first among the six biggest U.S. commercial banks with the highest percentage of hard-to-value assets in its securities portfolio, Standard & Poor's said.
So-called Level 3 assets comprised 14.5 percent of holdings the San Francisco-based firm had tagged for sale as of March 31, S&P said yesterday in a report. PNC Financial Services Group Inc. (PNC) ranked second, with 13.6 percent, followed by JPMorgan Chase & Co. (JPM)'s 6.8 percent, the ratings company said.
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