"Wells Fargo has turned its mortgage business into an enormous profit machine. The San Francisco-based bank posted earnings of $5.1 billion in the fourth quarter, a 24 percent increase from the previous year.
its strong gains may not be sustainable, unless interest rates drop
significantly or the housing market recovers substantially. Both are
“Rates really don’t have to go up very much to
discourage a whole swath of people from returning to the housing
market,” said Lance Roberts, chief economist at StreetTalk Advisors, an
investment advisory firm."
This while they still won't help existing homeowners in trouble.