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The company expects to report net income between $205 million and $220 million, with positive servicing results offset by an originations miss, analysts said.
Fitch Ratings, noting the reduction in Wells Fargo's balances and sale of non-agency servicing, said the bank no longer meets expectations at its old grade.
President Donald Trump's support of legislation that would cap credit card interest rates at 10% has flagged in recent weeks, but experts say that the debate has highlighted significant gaps in regulators' understanding of the credit card market and how its risks are priced.
This week the conforming 30-year fixed rate mortgage fell 10 basis points, with Optimal Blue data showing it broke through, at least briefly, the 6% level.
Late last year, commercial bank holdings of mortgage paper reached the highest level since 2023 as these depositories are flush with deposits.
